Jul 04, 2012

http://www.youtube.com/watch?v=1UG8RowZcks&feature=youtu.be

The LIBOR scandal involving Barclays and other banks is the tsunami of all banking scandals, because it affects the entire monetary system for hundreds of trillions of dollars of trades every day. Barclays Bob Diamond thought he could get away with it, but yesterday was forced to step down.

This is a short but excellent interview that Eliot Spitzer did, which explains the enormous significance of this scandal.