Matt Taibbi on the Libor Rigging Scandal
With Christmas now in the rear-view mirror, the financial media has entered wall-to-wall “look back at 2012/look ahead to 2013″ coverage that, of course, will occasionally be interrupted by the latest example of dysfunction in Washington as lawmakers attempt to forge a last minute fiscal cliff deal.
Here’s Rolling Stone’s Matt Taibbi on what he saw as the year’s biggest story of the year - Libor.
I missed this over the summer as, according to this HuffPost story, Taibbi called out CNBC’s Larry Kudlow when he referred to Libor as a victimless crime. Somehow, it seems that the world’s 16 biggest banks rigging the world’s most important interest rates just isn’t that big of a news story.