What I love about the LIBOR scandal:
It’s more proof that conspiracies actually do happen.
People at the top have each other’s emails and phone numbers. They talk to each other. And they strike deals.
The LIBOR, a benchmark for interest rates around the world, is determined by surveying 16 banks on what they think the LIBOR should be, throwing out the 4 highest and the 4 lowest, and averaging the estimates in the middle. It’s determined this way every day.
To rig it, you need pretty much all 16 banks in on it.
Literally the definition of an international banking conspiracy.