The Libor scandal has made it apparent to all that the most widely used interest rate index in the world rests on shaky foundations: on a survey, not actual transactions, and moreover, on a survey subject to attempted collusion and manipulation. The scandal has also highlighted the irony in the fact that the key interest rate index for America’s currency is set by a process controlled in Britain, with the British Wheatley Review recommending that Libor be brought under British regulators.
Can Libor be reformed? If so, how? Should it be replaced? If so, with what? How should Libor relate to the huge American mortgage market? Our panel of experts will address these issues.
If you are unable to attend, we welcome you to watch the event live on this page. Full video will be posted within 24 hours.
For more information: http://www.aei.org/events/2012/11/27/libor-scandal-reform-replace-how/