“When you’re one step ahead of the crowd you’re a genius.
When you’re two steps ahead, you’re a crackpot.”
– Rabbi Shlomo Riskin (Feb. 1998)
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A worrying but informative article by Carrick Mollenkamp (Wall Street Journal, April 16th) about how “one of the most important barometers of the world’s financial health could be sending false signals.”
LIBOR, the London Interbank Offered Rate, is becoming unreliable because, so the article speculates, banks are sending in false reports. In other words, banks are […]
