"either an idiot... or possessed of a dangerous agenda and very cunning"
Wednesday, 26 November 2008
Looking into Libor
A quick plug for a really interesting post on the TUC blog Touchstone, which looks at how Libor gets set. As Adam suggests, most people probably assume that Libor - the rate at which banks lend to each other - is some free-floating measure over which no-one has any control. Not so. This is an area that definitely deserves a bit more scrutiny, so go and have a read.