Two of the world’s financial capitals are hurting. London, Europe’s trading hub, and Chicago, America’s bridge between the farm and the global commodity markets, have been rocked by scandals. The controversy over the London interbank offered rate, or Libor, and the unraveling of the brokerage Peregrine Financial Group Inc. share only their timing. But their collision in the headlines is deepening investors’ antipathy toward the financial industry, capital markets and regulators. Read Wall Street Journal report here.
