01 Nov, 2026

The LIBOR Scandal Explained in Three Minutes

July 26, 2012 Jon Ponder

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If you think the LIBOR scandal is a) boring, b) overly complex and c) irrelevant to you, I recommend taking a quick timeout to watch Ezra Klein sum it up in under three minutes.

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The LIBOR Scandal Explained in Three Minutes

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Poetic Justice

Verbatim

“One woman at a rally in New Jersey told me last week that she was ‘nauseously optimistic.’ That may capture a lot of people’s last-minute jitters.”

— Rep. Jamie Raskin (D-MD), quoted by Axios, on what Democrats feel ahead of the midterm elections.

“I think Congress made a mistake not protesting turning the Rose Garden into what looks like the entrance to Liberace’s bathroom.”

— Former President Bill Clinton, quoted by The Wrap.

“Boy, they are scraping the bottom of the barrel. It feels like a real desperation play to me, because it has got zero basis in the law.”

— Republican election law expert Ben Ginsberg, quoted by Politico, on the Trump administration’s effort to invalidate Alaska’s election results.

Numerati

3,824

$1.4 billion

-35 points

31%

63% to 38%

KFF Poll: “With the 2026 midterm campaigns in full swing and early voting about to begin, there is a wide enthusiasm gap between partisan voters, with Democratic voters 25 percentage points more likely than Republican voters to say they are ‘more motivated’ than usual to vote (63% vs. 38%).”