Speaking of bad data ..
Nobody is saying the data is wrong, only that it might be. The implications of the benchmark being wrong are interesting - but even more so (to me) the implications of a Kedrosky Data Blog shoving out ratty data.
Concern is growing that banks may hiding their distress by manipulating a key financial benchmark. It's an interest rate called the LIBOR -- for London Interbank Offered Rate. May sound like a problem for London to worry about. Trouble is the LIBOR is used as the basis of millions of financial transactions around the world, including mortgages and corporate loans here in the U.S.
Nobody is saying the data is wrong, only that it might be. The implications of the benchmark being wrong are interesting - but even more so (to me) the implications of a Kedrosky Data Blog shoving out ratty data.
