Written Inc.: On sticking to the KISS rule

Monday, July 23, 2012

"If you can't explain it simply, you don't understand it well enough."
Albert Einstein

Words to live by.

ifthethunderdontgetya™³²®© said...: Let's see if I can explain the LIBOR scandal:

1) LIBOR (London Interbank Offered Rate) is the short term rate at which banks lend money to each other. It is also used to settle the Eurodollar future.

2) Banks involved in setting the rate took requests from other banks to fix it at prices that made the requesting banks money.

3) The Commodity Futures Trading Commission in the U.S. is investigating. We'll see if anything more than some fines and hand-slapping results.
~; 6:16 PM, July 23, 2012
Tabor said...: I do so love this quote! Never saw it before and think it should be a mantra for all teachers and professors and mentors!; 6:52 PM, July 23, 2012

Written Inc.