# An op-ed by Profs Kim Schoenholtz and Lawrence White on reforming LIBOR

1 Faculty News July 26, 2012 ![Bloomberg logo](/sites/default/files/styles/246w/public/assets/images/bloomberg192x144.jpg?itok=yV529lwz)>

Excerpt from [Bloomberg](http://www.bloomberg.com/news/2012-07-26/taking-the-l-i-e-out-of-libor.html) -- "How to ensure that a damaging scandal won’t happen again? The answer seems straightforward: Wherever feasible, benchmarks for financial contracts should derive from actual transactions, not surveys, as is the case with Libor."

[Read more](http://www.bloomberg.com/news/2012-07-26/taking-the-l-i-e-out-of-libor.html)