Matt Taibbi: Libor Scandal Is 'The Biggest Financial Corruption Case In History' (VIDEO)

"The Libor case is kind of symbolic of the worst of [market manipulation]," Taibbi said on Current TV. "If it's true that the 16 biggest banks in the world were fixing global interest rates, then it's hard not to argue that that's not the biggest financial corruption case in history." But as Taibbi notes, most Americans aren't exactly riled up about the Libor scandal as it's gone underreported "largely because people don't understand it," despite even Taibbi's best efforts. Libor is "a key short-term bank lending rate that affects mortgages and other interest rates throughout the economy," as put by The Huffington Post's Mark Gongloff. In other words, Libor manipulation may have affected trillions of dollars worth of transactions.