I saw a man who danced with his wife

Equally amazing, though it happened in London, not Chicago, Chicago, Avinash Persaud is one who is able to manage to discuss LIBOR without having an attack of the vapours;

• Between June 2007 and June 2008 – i.e. in the early days of the crisis, when banks still lent to each other – news that any bank had submitted rates higher than average, lit speculation that the bank was in trouble.

This speculation became self-fulfilling as banks stopped lending to any bank under a cloud of rumour and speculation. ....

In the heat of the crisis, it would be entirely reasonable for the Bank of England to consider that avoiding a speculative attack against one of Britain’s largest banks. Such an attack would have seriously threatened the viability of the UK’s financial system. As such safeguarding the financial system’s stability was a far greater priority than safeguarding the future integrity of Libor.

During financial crises, central bankers make these kinds of unenviable choices all day long – mortgaging the future in order to ensure there is one. 

Nor, as Persaud points out was it a secret.