Continuing LIBOR Scandal Reveals The Farce Of ‘Light-Touch’ Regulation

Continuing LIBOR Scandal Reveals The Farce Of ‘Light-Touch’ Regulation: London became one of the globe’s primary financial hubs partly through its so-called “light touch” regulatory approach — effectively trusting some of the world’s largest and most powerful banking enterprises to manage their own affairs without much government intervention. As a result, the U.K. central bank alternately ignored the burgeoning business of LIBOR-rigging and actively [...]/p