> I'm not sure where that point came from. It's not only a crime, it's an extremely serious crime. What on Earth are you talking about? The OP never said it wa

> I'm not sure where that point came from. It's not only a crime, it's an extremely serious crime. What on Earth are you talking about? The OP never said it wasn't illegal, just that no one thought it was a serious crime. Kind of like how sodomy is illegal for DoD personnel under UCMJ law, no one gives a damn and no one enforces it. > You can't tell investors that the rate is based on a daily measurement of interbank risk, and then just go ahead and base that rate on something entirely different when it suits you. But it's not based on interbank risk, it's based on how much you THINK you can get an interbank loan for. How much you THINK the risk is worth. They base the Libor rate off a lot of thoughts and few facts. The fact that they base it entirely off of thoughts and few facts gives these bank personnel a lot of incentive to lowball, giving whatever number is necessary to get the lowest loan possible and profit the most. Libor rigging will continue at all levels until they change HOW they get to the Libor rate.