How many times have you been asked to explain why fiddling the LIBOR rate is so important?
I have lost count, and I even had a few sad characters asking me in the middle of last week’s European football final. Maybe it was because Spain were playing with a fake centre forward (Fabregas) it made them realise there is something fake about our banks. Or maybe it was because it was a match between two of Europe’s weakest financial nations who, despite their fiscal shortcomings, are football giants? Or maybe it was because we all knew at half time the game was over and it was going to be hard to begrudge the Spanish their moment of glory as within a few days it would be back to bei...
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