STOCK MARKET WATCH -- Monday, 2 July 2012

[Demeter]

31. The Libor Scandal and the Price of Prosperity

http://blogs.hbr.org/haque/2012/06/the_libor_scandal_and_the_pric.html

To the long, dismal list of fatally broken institutions — GDP, governments, schools, corporations — we can add the mysterious Libor, and its conveniently comfortable calculation. It's difficult to overstate what a pillar of the global economy Libor is — it's used in setting interest rates that affect the daily lives of pretty much every citizen of every advanced economy across the globe. And it's difficult to overstate how troubling it is that this, too, is an institution rigged by the few, for the few; that this institution too, is, corrupted.

This scandal isn't about price-fixing. It's not about a bank. It's not even about power and privilege, corruption and compromise. It's about life, tragedy, and human potential. It's about the capacity to create a worthwhile future. It is, in short, about you and I, and the places we seek for ourselves in the world...

BUT OTHER THAN THAT, HOW DID YOU LIKE THE PLAY, MRS.LINCOLN?