Professor of Economics Richard Grossman's op-ed, "The Best Way to Reform Libor: Scrap It," was published in The Wall Street Journal on July 25. "The British have learned nothing from the recent Libor scandal" involving the manipulation by banks of a vitally important interest-rate benchmark, writes Grossman. This is clear from a recent decision by a British government-appointed committee to hand over control of Libor to NYSE Euronext, a company that owns the New York Stock Exchange, the London International Financial Futures and Options Exchange, and a number of other stock, bond, and derivatives exchanges. “In other words, the company that will be responsible for…