We here aren’t jumping on the kill Barclays bandwagon, but this was too good to pass up.
By now, most readers are aware that Barclays and probably many other banks have been caught red-handed gaming the London Inter-Bank Offer Rate (LIBOR).
No, I am not going to analyze the “cause”, call for more regulation, propose lawsuits, or lament that “banksters” today are “greedy”. I have a simpler and subtler point.
In the [...]