> if you insist "it can't happen here" (in the USA) It can certainly happen. But absent some obvious incentives, I prefer to give the benefit of the doubt. (T

> if you insist "it can't happen here" (in the USA) It can certainly happen. But absent some obvious incentives, I prefer to give the benefit of the doubt. (The Libor manipulation was done by people employed by the private sector, who had their career advances and their compensation linked to the way the Libor was marked.) You are right that some non-obvious group dynamics can happen in Government organizations, but based on this generic statement alone, we should refrain to accepting any conspiracy theory without at least a modest amount of intellectual due diligence.