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Regulation Isn't Answer to Libor Scandal - Expert

Wednesday, 11 Jul 2012 | 5:20 AM ET

Andrew Verstein, executive director at Yale Law School Centre, commented for CNBC on the news that U.S. lawmakers are launching a probe into the New York Fed's libor role: "Libor's importance is greater than its comprehensibility. (...) If 10 percent of allegations are accurate, this is a huge story." He also said that he wouldn't argue that the answer is more regulation.