Sometimes it's easier if you don't go after something obvious like the lottery, but perhaps something equally or more profitable.
People were rigging the libor rate to make billions of dollars and nobody was caught for over 20 years
People were rigging the libor rate to make billions of dollars and nobody was caught for over 20 years
While the LIBOR (and similar) rate had a huge impact given how many products referenced it, the direct trading is rather smaller and the direct impact of misquoting was small. Rates were moved hundredths to at most tenths of a percent.
Using the billions figure is hyperbolic and doesn't reflect what the people involved did or were trying to do.
If you want to fix problems in important markets, just like in code, you need a clear, detailed, and nuanced understanding of what happened and the motivations of those involved.
"On 27 July 2012, the Financial Times published an article by a former trader which stated that Libor manipulation had been common since at least 1991."
In other words, this came to light under the previous US POTUS and - much like the crash of 2007 / 2008 - __nothing__ happened. It's amazing how much power the MSM has over the narrative(s) and public perception.
The point being these financial companies get to operate without fear; without penalty. Which was the nature of the comment that comment was added to.
as opposed to the Russian POTUS :)