eastern. >>> patrick o'keefe is still with us. patrick, how significant is the libor investigation?o you expect any broad financial ram fictions from these various ongoing settlements? >> i think that the biggest consequence of the libor scandal is that it's yet another indication to the general public that there's something wrong in financial markets, generally, as if they didn't need additional evidence. and i think that erosion of confidence in another set of institutions is significant. with respect to the economic consequences, that's going to be worked out in the courts. it's going to be yet another cloud hanging over the economy's head going forward for a number of years because many financial institutions now face a question mark over whether they have exposure to manipulation of the rate. >> yeah, confidence is certainly eroding. of course, questions about the criminality of these acts will remain. we'll keep an eye on reports. >>> german confidence fell for the third straight month, hitting lowest level in over two years. the country's ifo institute warned the latest surve