Black Swan Event: The LIBOR Fiasco

According to Wikipedia, a black swan event is a metaphor that describes an event that is a surprise (to the observer), has a major impact, and after the fact is often inappropriately rationalized with the benefit of hindsight. When I fist learned of the LIBOR (London InterBank Offered Rate) scandal, I initially thought “business as usual – these fat cats know how to rob & steal under the cloak of night & know full well that the politicians they have bought & the media they have hijacked will deflect attention away to other events that don’t carry as much weight”. After digging some more into this fiasco, I shuddered at the global implications. Keep your eye on this one, folks. You may want to check out these other sources about LIBOR to get up to speed:

Stay alert



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