LIBOR: There is an international banking conspiracies, and it's run by dumbasses

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LIBOR: There is an international banking conspiracies, and it’s run by dumbasses

Lately, the news news and internet news have picked up on LIBOR, the international banking interest rates standard and how’s it’s set by a group of chaps in London to suit their own whims. There is in fact an international banking conspiracy, but it’s not run by Bond villains or Lex Luthor, trying to build some gigantic sun laser… it’s run by a small group of old tweed jacket lunch buddies in London who are just trying to be cool around each other.

There’s a lot you can read on LIBOR and how it affects every single bank transaction in the entire world, and how it’s run by a couple of guys with the improbably hilarious comic book names of Rich Ricci and Mr. Diamond.

Oh, I’ll just let Jon Stewart sum it up.