Regulation Isn't Answer to Libor Scandal - Expert

5:20 AM ET Wed, 11 July 2012

Andrew Verstein, executive director at Yale Law School Centre, commented for CNBC on the news that U.S. lawmakers are launching a probe into the New York Fed's libor role: "Libor's importance is greater than its comprehensibility. (...) If 10 percent of allegations are accurate, this is a huge story." He also said that he wouldn't argue that the answer is more regulation.