The world should learn from Sinkieland

Two gripping news today, rate cheating by Barclay’s on LIBOR and China’s curb on property speculation. In Barclay’s case, it was trying to offer better interbank rates against a fixed rate determined by a formula. The British authorities and European govts are against variable rates. They are going to frame criminal charges against the violators. They want all banks to work on a fixed and