We’re stumbling into a pit

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.

Related articles

• Libor scandal explained and what rate-rigging means to you – USATODAY.com (tribuneofthepeople.com)