Critical Analysis: “Radical Reforms” Likely in the Wake of LIBOR Scandal

In the wake of the London Interbank Offered Rate (LIBOR) scandal that cost Barclays Bank 290 million pounds ($455m) in fines and the bank’s CEO and chairman their jobs, world financial leaders are calling for reforms to the interest rate system that affects $800 trillion worth of financial instruments.  Sir Mervyn King, governor of the … Read more