As the evidence mounts about the scope of efforts to rig the London Interbank Offered Rate (LIBOR), a significant financial index, the predictable calls for new laws and even a radical restructuring of major segments of the financial services industry are coming from both the U.S. and Europe. However, facts show that new laws are not needed. The system worked. It is true that some regulators on both sides of the Atlantic should have acted sooner and more aggressively, but new laws would not improve their performance.