Armageddon option for misbehaving banks

The astronomic fines over Libor manipulation are hitting the wrong targets. Perhaps it’s time for regulators to take a more radical approach

In a few days' time, mankind will come as close as it has in more than a hundred years to finding out what happens when a big lump of rock crashes into the Earth at high speed.

An asteroid known as 2012 DA14 is scheduled to miss us by just 20,000 miles. That sounds like a fair margin, but in astronomical terms it is a hair's breadth.

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