FT-Fed says Libor ‘stucturally flawed’

Mr. Bernanke said U.S. central bankers became concerned about “problems” with Libor toward the end of 2007. “The Libor system is structurally flawed,” It is a major problem for our financial system and for the confidence in the financial system .. we need to address it.”

And how long do we wait to address the HSBC problem and other banks that may be playing the same game ?