Economist: Allegations that LIBOR (the London inter-bank offered rate) has been manipulated are a serious worry. LIBOR is meant to be a measure of banks own borrowing costs, and is used as the foundation for a host of other interest rates. Everyone is affected by LIBOR: it influences the payments made on mortgages and personal loans, and those received on investments and pensions. Regulators should cross-check submissions against hard data on banking-sector risk, and publicly report LIBOR abusers.”]
Source: https://taosecurity.blogspot.com/2012/04/clowns-base-key-financial-rate-on.html