LIBOR met the mainstream decades ago, in the 80s and 90s a nice guideline, and ended up pre-financial crises with adoption of financial models that balanced on

LIBOR met the mainstream decades ago, in the 80s and 90s a nice guideline, and ended up pre-financial crises with adoption of financial models that balanced on the edge of single basis points that depended on a single digit that a not very well paid team calling traders, that might or might not answer their phones, and might or might not care to give an accurate number, but when a number it was not to single basis-point accuracy, just a number from the floor. The people playing with complex quantitative systems that depended on single basis points had no idea of the integrity of the data they were playing with if they were using LIBOR. The conclusion I got was: Get out of your code and check your data and how much you trust it. Then get back in with a whole load of caveats.