Conspiracy theorists of the world, believers in the hidden
hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you
an apology. You were right. The players are a little different, but your basic
premise is correct: The world is a rigged game. We found this out in recent
months, when a series of related corruption stories spilled out of the
financial sector, suggesting the world's largest banks may be fixing the prices
of, well, just about everything....
You may have heard of the Libor scandal, in which at least
three – and perhaps as many as 16 – of the name-brand too-big-to-fail banks
have been manipulating global interest rates, in the process messing around
with the prices of upward of $500 trillion (that's trillion, with a
"t") worth of financial instruments.
That was bad enough, but now Libor may have a twin brother.
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