I think this is another article that every American needs to read in order to understand what is happening in the markets today.
Rising Libor, set each day in the center of international finance, means higher payments on financial contracts valued at $360 trillion -- or $53,500 for each person worldwide --including mortgages in Britain, student loans in the U.S. and the debt of companies like CIIF in Makati City, the Philippines.
I hope this finanical mess gives some Americans the opportunity to get some financial acumen like they developed in regards to Islam and the Middle East after 9/11. People need to know why Libor is important and how it effects eveyone in the world.
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