The LIBOR gets set every day by the British Bankers' Association in London. As banks grow more unwilling to lend each other money -- because who knows if they'll get it back -- the LIBOR climbs further from the steady U.S. Fed rate, making it more and more difficult for banks to get money on credit.
I mostly like old, unpopular things, like from 2002. I'm also 102 years old.
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