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As a little side note, Libor is so idiotic that I don't understand how the general public allow it to underpin most of the financial products they buy. We need
by osrec 9y ago
As a little side note, Libor is so idiotic that I don't understand how the general public allow it to underpin most of the financial products they buy. We need a bit of a revolution in the rates/banking space. The current financial system is inherently unstable, frought with moral hazard and serves the rich to make them richer still.
- osrec 9y agoMaybe one solution is to actually start teaching some simple economics at school. The curriculum in the UK conveniently skips over the details of banking. If people knew how it really works, I'm certain they would feel taken advantage of.