Libor scandal as explained by Jon Stewart

Lately, it seems scandals have been hitting the finacial world one after the other. The most unbelievable, though, has to be the latest revelations about manipulation of the London Interbank Offered Rate (Libor). Barclays was the first to be fined, but we know that other banks are being probed over the scandal.

Jon Stewart discussed the Libor scandal on last night's "The Daily Show." As he says, it turns out it's not six members of the Illuminati controlling the world's finance, it's 16 London bankers that are lunch buddies.

About the Author
Michael McFarlin

Michael McFarlin joined Futures in 2010 after graduating summa cum laude from Trinity International University, where he majored in English/Communication. With the launch of the new web platform, Michael serves as web editor for the site and will continue to work on the magazine, where he focuses on the Markets and Trading 101 features. He also served as a member of the Wisconsin National Guard from 2007 to 2010.

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