Ben Chu: Grand Theft Libor

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Outlook It's a pity Lord Turner didn't get the Bank of England job, because he would probably have produced better soundbites than Mark Carney will.

The chairman of the Financial Services Authority, who famously described a good chunk of City activity as "socially useless", said that one of the factors behind the Libor scandal was the amoral "computer game" mentality of the trading floor. The problem, though, with this analogy is that it maligns computer game players.

Yes, they may be unlovely cheaters. But gamers don't collect multibillion-pound bonuses for completing Grand Theft Auto 5.

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