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Anyone Who Might Have Done A Little LIBOR Manipulation Might Want To Get A Lawyer Or Move To The Transit Zone Of The Moscow Airport

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If you're ready to have LIBOR return to meaning simply "a very important interest rate" rather than "a scandal over a very important but easily-manipulated interest rate that for some reason NYSE Euronext wants responsibility for calculating," you are out of luck. There are simply too many British regulators desperate to build/rebuild their credibility to allow those dregs to go undrunk.

Britain's leading fraud prosecutor hopes within months to charge more individuals over the Libor rate rigging scandal as it tries to reassure critics it won't hesitate to pursue senior industry figures or even institutions….

The Serious Fraud Office (SFO), under pressure to nail those responsible for manipulating the benchmark interest rate that helps oil the wheels of global finance, said on Thursday it would not shy away from high legal hurdles to punishing corporations.

"We will go where the evidence takes us, but we will always want to focus on more senior people and those with the greatest culpability when we can," an SFO spokeswoman said, adding that institutions remained part of its investigation.

"We anticipate making the next charging decisions (against individuals) in the Autumn."

UK prosecutor sees more Libor charges within months [Reuters]


Libor Probably Not Worth The Fixing

Should we just consign this thing to the scrapheap of corporate history?