![Gambling in the House?](https://images.mauldineconomics.com/uploads/newsletters/mwo072812_lg.jpg)
- July 28, 2012
Gambling in the House?
Rick: How can you close me up?
On what grounds?
Captain Renault: I'm shocked, shocked to find that gambling is going on in
here!
– From the classic scene in Casablanca,
made in 1942
The latest scandal du jour seems to be about what is now called LIBORgate. But is it a scandal or is it really just business as usual? And if we don’t know which it is, what does that say about how we organize the financial world, in which $300-800 trillion, give or take, is based on LIBOR? This is...
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