FROM George Nilson
Barclays, LIBOR and Banking Culture The latest global financial scandal may be the biggest of all, involving a benchmark used to set interest rates for contracts worldwide. It's the London Interbank Offered Rate, or LIBOR . As the world learns more about international banking, one public policy expert calls it a "cheating culture." We hear about the growing LIBOR scandal and what it might mean for $350 trillion in contracts -- from multi-national business and municipal government bonds down to mortgages and student loans. Photo: Bob Diamond, then-CEO of Barclay's UK, speaks at the World Economic Forum Annual Meeting in Davos, Switzerland, January 27, 2012.
The LIBOR and Why It Matters The London Interbank Offered Rate , or LIBOR, is what banks charge each other to borrow money, and it's not just for financial wonks and accountants. It's also used as a benchmark to set rates for $350 trillion in contracts: commercial loans, home loans, car loans and credit cards, including yours. Now it turns out that major banks may have manipulated the LIBOR for their own profit. Are they being run by a "cheating culture?" Would regulation of the latest global financial scandal help or should bankers be required to risk their own money, not everybody else's?
The 'deconstruction' of the administrative state President Trump has failed to fill high-level positions in important agencies — and some people he has named want to phase out the agencies they're supposed to lead. We look at the possible consequences for delivering services and providing security — and at top aide Steve Bannon's plans for "deconstructing the administrative state."
Cover-up or witch hunt?: The latest on the WH ties to Russia Less than two months into his Presidency, Donald Trump is struggling to get his agenda under way, making it harder himself with tweets that dominate public attention. Meanwhile, important questions are going unanswered: why have staff members and the Attorney General lied about contacts with Russian officials?
Trump's travel ban and the long-term agenda The Trump Administration's revised travel ban may be good news for some visa holders and others, but it's still being challenged as unconstitutional. Some reporters call it the beginning of a long-term effort to change the demographic make-up of the United States.