Agree. But the libor scandal is dwarfed by how much the Fed has robbed the widow and the orphan to give to the "struggling borrowers" (i.e. over-leveraged property speculators), through artifically low rates and massive money printing.
The drop in rates arguably raised asset prices, which helps e.g. people who currently own houses. This comes at the expense of people who need to purchase houses in the future. So there are generational implications there.
However, it can also be argued that the drop in rates catalysed an economic recovery, without which there would be fewer jobs for the younger generation.
All of this is arguable. But to say that the fed is robbing widows through artificially low rates and money printing is just emphatically wrong.
>However, it can also be argued that the drop in rates catalysed an economic recovery, without which there would be fewer jobs for the younger generation.
trickledown houseinomics?