Could a LIBOR-style scandal happen again?

The LIBOR scandal finally came to an end this week, after two London traders had their convictions overturned. But could interest rates be manipulated like this again?

This week, the UK’s Supreme Court quashed the convictions of two traders accused of manipulating the LIBOR benchmark rate that was once used to price loans around the world.

Tom Hayes and Carlo Palombo each spent time in custody for their role in the scandal, although both were released in 2021 and have been fighting for a decade to clear their names.

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