LIBOR, PFGBest Scandals Of The Week

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Published on Jul 10, 2012

The lack of meaningful financial regulation appears to have claimed another scalp this week, as Iowa based commodity trader PFGBest is accused of losing over $200 million in customer money. But its not a surprise that consumers are getting screwed again: it was also revealed today that the New York Fed may have known about LIBOR manipulation as far back as 2007. What does this teach us about the way business is done in America? Joining us is Anthony Randazzo, director of economic research for Reason Foundation and Richard Eskow, senior fellow with Campaign For America's Future and host of The Breakdown on We-Act Radio in Washington, DC.

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