The Libor scandal continues to grow, yet is making little in the way of waves in the US, in contrast to the full blown coverage in the UK. So far in the US this is all a Barclays story (see CNN Money, Bloomberg) when it really is a massive financial industry credibility/fraud story.
If you want to read a bit I am including a few recent links. Spend a few moments on these and I can guarantee that the outrage will surface. This is a major, massive event that is being swept under the carpet, because it fundamentally undercuts the credibility of the banks, the major contributors to both Presidential campaigns.
Remember too LIBOR is set by a private group, the British Bankers Association ... so the next time a right winger praises free markets, throw this in his/her face. The banks colluded and cheated under a free market system with lax regulation.... Amazing, no?