The LIBOR scandal is one of the biggest crimes of all time. According to Andrew Lo, MIT finance professor, “[it] dwarfs by orders of magnitude any financial scams in the history of markets” and the WSJ says it affects over $800 trillion(!) in financial instruments. Is it getting any TV news coverage? (see the green bar below)
According to Media Matters, on ABC, CBS, NBC, CNN, Fox News, and MSNBC the Libor scandal only got 12 minutes of coverage combined. Which is totally understandable, because hey, there was a chimp attack (to be fair, if it were available I’d watch an entire 24/7 channel of chimp attacks).
Media Matters continues: “And while both NBC’s Nightly News and ABC’s World News ignored the LIBOR scandal from June 27 to July 12, each found time to run a computer model of the chimpanzee attack during weekend broadcasts.”
From NBC’s Nightly News:
From ABC’s World News:
PS Here’s a decent Libor scandal explainer since there aren’t any on TV.