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Libor must be scrapped–not fixed
Oct. 2, 2012 by Lauren Rubenstein
In an interview with Law360, Professor of Economics Richard Grossman said recently proposed reforms to the London Interbank Offered Rate (Libor) following a rigging scandal are insufficient to prevent future tampering with the rate. Instead, he says, Libor should be scrapped and replaced with a new, market-based rate to prevent cheating.
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