"Why has the scandal created outrage in Britain? Because it truly is outrageous. They weren’t supposed to be fixing that rate — no matter what the reason. If I give you my money, I need to be able to trust you with it. If you can only be trusted via regulation, then you might as well be a utility. And if banks can’t be trusted to manage their trading desks, then we need to rethink our whole model of banking."
— Karen Petrou, the managing partner of Federal Financial Analytics, regarding Barclays’ LIBOR scandal
