If you’re not really aware of or only half paying attention to the Libor scandal, this piece at the BBC might make you get into it a bit more:
The chairman resigns to save the CEO. The CEO makes a public threat to drag the central bank into the mire. And the previous government. And the Treasury.
Next morning, the CEO resigns and the chairman re-installs himself to “oversee transition”. The police, who said they could not prosecute, now say they might.
You have just seen the British establishment operating at a level of panic and indecision on a par with the Norway disaster in 1940. And it is not over.
Or how about this one, from the inside:
An anonymous insider from one of Britain’s biggest lenders – aside from Barclays – explains how he and his colleagues helped manipulate the UK’s bank borrowing rate. Neither the insider nor the bank can be identified for legal reasons.
Oh shit, keep reading: