There's another dimension to that unfolding LIBOR scandal which cost Barclays, the British bank, its CEO and $450 million in fines after it was revealed that the bank had been manipulating international lending rates. Attention has shifted to why U.S. financial regulators, who knew about the rate rigging, didn't move to stop it more swiftly.
We're going to put that question to Robert Smith, correspondent for NPR's Planet Money. He joins us from New York. Robert, thanks for being with us.