LIBOR Rate-Fixing Scandal Sets Off Investigations, Lawsuits Against Big Banks

10/08/2012 16:39
Remember to ask the question...Who owns the banks?

Cities around the country, from Baltimore to Oakland, are taking legal action against the banks responsible for suppressing the London interbank offered rate, Libor. And some 75% of major cities involved in libor-tied interest-rate swaps stand to reclaim taxpayer losses in addition to libor-backed mortgage holders who lost money on the rate's manipulation.

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