Home values have posted their first annual increase in nearly
five years, acccording to the latest Zillow index, which is a
well-respected year-over-year analysis of the sale of similar
homes in the same area. So we may be getting closer to a
healthier housing market for the first time since the bubble
burst in 2008. But then the Libor scandal came along and threw a
gigantic wrench in the works. On the surface, Libor might appear
to solely be a Wall Street problem. There is no easy target for
the populace to vilify, as there is with the HSBC money
laundering investigation. And the damage done by the banks’
apparent attempts to subjugate Libor to their own benefit, at
first glance, might appear to be limited to the banks
themselves. Perhaps that is why outrage over Libor hasn’t yet
reached critical mass. But make no mistake; the impact of the
scandal could be larger than any of the banking scandals that
have come before it. This is very much a Main Street issue. As
the investigation continues, we may learn how