Swear to God, I thought EVERYBODY knew LIBOR was rigged:
My only question is why is this suddenly news? The only thing I’m sure of is it has nothing to do with a desire to return to honest markets. Maybe Jamie Dimon’s comment that JPM is positioned to profit from rising rates didn’t flush out enough suckers. Maybe the spectre of rising mortgage interest rates will spook buyers into the housing market, which has now “bottomed” for 63rd time by my count.
I don’t really care, but I know bad theatre when I see it.