Matt Taibbi: Libor Rate-Fixing Scandal "Biggest Insider Trading You Could Ever Imagine"
(Multimedia) Rolling Stone’s Matt Taibbi joins us to discuss the pattern of systemic corruption by 16 banks accused of rigging a key global interest rate used in contracts worth trillions of dollars. The London Interbank Offered Rate, known as Libor, is the average interest rate at which banks can borrow from each other. Some analysts say it defines the cost of money. Barclays was recently fined $453 million for rigging Libor, and a number of other banks are under ... Full Story »
Posted by Dwight Rousu
...as far as "the guru of financial journalism" Larry Kudlow is concerned, for years he' s been making a living as the obsequious apologist for the financial fun house.