The Libor Scandal and the Price of Prosperity
Harvard Business Review
JUNE 29, 2012
Let me couch this for you in the pedestrian terms of financial hydraulics — the tawdry terms which seem to substitute for thinking in what's become of our thin, shallow economic and political discourse. Faintly, in the distance, we protest, we shout, we object. The most basic function of a financial system is to price money.
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