It may very well be the end of the world....as we know it, but that could be a good thing.
We never sorted out what happened in 08. No one lost their job. No one went to prison. No one forfeited their assets...not even their fucking bonuses. But that's all about to change. Bankers are resigning in record numbers to avoid the shit storm headed their way.
This LIBOR scandal....the one everyone in the world is screaming about except Americans because we have Tom and Katie....and the Joker...it's gonna take it all down. Barclays is the tip of the iceberg. There is no way they did this on their own. The feds have all the intercepted emails.
LIBOR, the basis for 800 trillion in debt instruments has been a casual construct based on which way the heavy hitters were betting. Profit or loss; life or death; retirement or greeter at Walmart; all based on a handful of arrogant assholes playin a game.
We're entering a new era of revelation and revolution. Watch for mass arrests...return of looted assets from offshore accounts...an implosion of this whole corrupt to the core financial system.
Amazingly the day this scandal broke, congress finally authorized a full audit of the fed...after three years of resistance and then a gutting of the bill they did pass. Of course you'll have to read the results in the foreign press, but at least it's happening.
Here's one mainstream journalist who broke the story in Rolling Stonehttp://www.youtube.com/watch?v=0oV2mI0IYp8