LIBOR

Banks are still huge, financial scandals still break -- even after the recession revealed flaws in the financial system. A commentator gives his short-and-sweet solution.

The LIBOR rigging scandal extends beyond Wall Street. Local governments allege fake rates made budget shortfalls worse and hit public services.

Today as Treasury Secretary Timothy Geithner was officially presenting a report from the Financial Stability Oversight Council on the state of the economy, he was grilled about British banks' manipulation of the LIBOR interest rate.

Secretary Geithner is expected to tell the committee that the U.S. economy is starting to regain its footing, but still faces threats from uncertainty about government spending and taxes, and instability in Europe.

In the ongoing LIBOR interest rate rigging scandal, European lawmakers have proposed making interest rate rigging a crime.

According to the Financial Times newspaper, four big European banks have joined Barclays in the not-so-prestigious club of financial institutions being investigated for rigging a benchmark lending rate called LIBOR.

Senators are likely to question Federal Reserve chairman about what banking regulators knew about manipulation of key lending rate.

As the scandal into rate-rigging grows, more theories and information are emerging about how, exactly, banks may have manipulated an important interest rate called LIBOR.

In the U.K. today, lawmakers are highlighting an overlooked G20 report that says oil price-reporting has some uncomfortable similarities to the LIBOR rate fixing scandal.

The New York Federal Reserve Bank released documents showing concerns about LIBOR's credibility in 2007. What's the next show to drop?