Wall Street Journal - Michael J. Casey, 10/4/12
The idea of your local priest peppering his Sunday sermon with references to “the London Interbank Offered Rate” might sound far-fetched, but you may want to be prepared for it. The Libor scandal has entered the religious realm.
In fact, a multi-faith coalition of activist organizations doesn’t want to stop there. According to a statement Thursday, it believes average Americans are being deprived in their television news of coverage of the sweeping story of how banks allegedly rigged a benchmark interest rate that’s used to price everything from student loans and adjustable-rate mortgages to money market funds, credit cards and business credit lines.
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