"If you can't explain it simply, you don't understand it well enough."Words to live by.
Albert Einstein
A brief-yet-ongoing journal of all things Carmi. You'll laugh, you'll cry, you'll reach for your mouse to click back to Google. But you'll be intrigued. And you'll feel compelled to return following your next bowl of oatmeal. With brown sugar. And milk.
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Monday, July 23, 2012
On sticking to the KISS rule
2 comments:
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Let's see if I can explain the LIBOR scandal:
ReplyDelete1) 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.
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I do so love this quote! Never saw it before and think it should be a mantra for all teachers and professors and mentors!
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