There have been several recent Posts on this Blog regarding the LIBOR (Rate) Manipulation Scandal. This scandal might effect a number of the Largest Banks Around-the-World, the so-called “Too Big to Fails”. Also, it effects the very most important of the Characteristics of the Financial Services Industry–TRUST. The linked Interactive Chart , from the NY Times, might make the LIBOR Scandal a little easier to understand, http://www.nytimes.com/interactive/2012/07/10/business/dealbook/behind-the-libor-scandal.html?scp=4&sq=LIBOR&st=Search. As the Chart shows, LIBOR effects many consumer and business loan rates–Around-the-World.
You will, no doubt, find additional Posts on this Blog regarding LIBOR. It is a Major Problem that will not go away anytime soon.