Ugly is ugly no matter where it occurs:
Johan Goldberg points out a major high echelon bank swindle in Libor- Today's Columbus Dispatch Forum page.Barclay's , thye seciond largest bank in Britain admitted that it manipulated the London interbank offered rate, or Libor.
It is estimeated that $350 trillion in bonds and loans are pegged in Libor worldwide. That's more than 20 times the US GDP.
The left predictably pounds the table about corruption, the need for more regulation and the inherent sinfulness of capitalism.
Goldberg says: "They're entirely right about the first, possible right aout the second, and deeply confused about the third."
"If you don't think sociaslists or beaurocrats are just as likelyto rig the rules to their benefit, you're quite simply ignorant of as lot of history and current events."
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