The relentless push for more regulation and more oversight boards, commissions and agencies hasn't done anything to curb such scandals

Both left and right should be pounding the table over the Barclays bank LIBOR scandal.

Blame Barclays, not capitalism

Jonah Goldberg

• Barclays is the second-largest bank in Britain and one of the largest in the world. 
• It has admitted to U.S. and British regulators that it manipulated the London interbank offered rate, or LIBOR, which basically measures how much it costs banks to borrow money from one another for various periods of time. 
• If you ever read the fine print on a home mortgage, credit card agreement or car loan, you've seen reference to LIBOR.
• Indeed, a conservative estimate is that some $350 trillion in bonds and loans are pegged to LIBOR worldwide. 
• That's more than 20 times the GDP of the United States.

Read more: www.aei.org/