How Will We Know the Credit Crisis and Banking Fiasco Are Truly Over?
June 12, 2008 at 01:43 AM EDT
How will we know the credit crisis and banking fiasco are truly over? We won’t. But there’s a damn good indicator that will show us the way - the London Interbank Offer Rate , usually referred to as LIBOR . And right now LIBOR tells us that this financial mess still has room to run. As indicators go, recent developments have demonstrated that the LIBOR system is arguably corrupt. Until now, LIBOR always has been constructed by industry insiders - with little in the way of oversight or regulation. It drives billions of dollars of trades and transactions a day. And it’s publicly available at 11:30…
