LIBOR-rigging was common knowledge, widespread, and went on for years. So says Doug Keenan, a former banker who traded derivatives at Morgan Stanley from 1991 to 1995. His offer to testify to United Kingdom lawmakers was turned down because it didn’t fit their “narrative.”

“In their collusion they were using e-mail,” Keenan says. “So they left a written record of what was ultimately fraudulent activity, or activity to support a fraud. For them to leave a written record says that the culture must be deeply supported.”

The Senate Agriculture Committee gets an update from regulators on two probes under way into scandals at futures trading firms MF Global and Peregrine Financial Group. (more…)

Antony Currie talks to Neil Barofsky, the former TARP Inspector General, about his new book ‘Bailout’, to deciper what two years of dealing with both U.S. banks and the D.C. crowd tells us about the future of finance. (more…)

Speaking to Reuters Insider, Rep. Barney Frank (D-Mass.) critiques the pace of Wall Street reforms and regulatory rulemaking two years after his namesake legislation took effect. (more…)

The euro zone needs to move quickly toward closer fiscal and political integration or risk falling off a cliff, says NYU economist Nouriel Roubini. European leaders understand this, but that doesn’t mean they’ll make the right choices, says Roubini. (more…)

Antony Currie talks to Dark Pools author Scott Patterson about the rise of high-frequency trading systems that appear to be stealing a march on regular investors and whether regulators can keep up with Wall Street’s Tech revolution. (more…)

You’ve got to hand it to the folks at Reuters, particularly Legal Editor Joan Biskupic. She was out early this week with a list of reasons not to be surprised by today’s U.S. Supreme Court ruling upholding the bulk of President Barack Obama’s Affordable Care Act, most importantly the individual mandate. Agree or disagree with the ruling, I think it’s safe to say most people believed the court would strike down that part of the act, at least. Biskupic looks pretty smart in hindsight.

She said lower court rulings and a tendency by the Supreme Court justices to defer to Congress strongly suggested the Court would uphold the health care law.

Reuters’ Jennifer Ablan and Breakingviews’ Antony Currie say that, after Moody’s downgraded ratings for several banks, the debt is still a more attractive investment than the stock. (more…)

Reuters Breakingviews editors discuss why JPMorgan boss Jamie Dimon’s second appearance before U.S. lawmakers was a serious distraction from the bigger issues confronting the country. (more…)

CapGemini and RBC Wealth Management’s latest World Wealth Report finds that volatile markets and the euro zone crisis has even put a dent in the wallets of the world’s most affluent.

Read more on HedgeWorld here. (more…)