We’re stumbling into a pit

7.22.2012 Leave a comment

Alexander Cockburn on the significance of the Libor Scandal and what the latest offence suggests about our future:

Is it possible to reform the banking system? There are the usual nostrums — tighter regulations, savage penalties for misbehavior, a ban from financial markets for life. But I have to say I’m dubious. I think the system will collapse, but not through our agency.

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