Jump to content
House Price Crash Forum
interestrateripoff

Us Regulator Sues 16 Banks For Alleged Libor Rigging

Recommended Posts

http://www.bbc.co.uk/news/business-26584942

A US regulator has sued 16 banks for allegedly manipulating the London interbank offered rate (Libor).

The Libor rate is used to set trillions of dollars of financial contracts, including mortgages and financial transactions around the world.

The regulator said the manipulation caused "substantial losses" to 38 US banks which were shut down during and after the 2008 financial crisis.

The sued banks include Barclays, HSBC, Citigroup and Royal Bank of Scotland.

Once more RBS is there, it's not a party without them there!

Share this post


Link to post
Share on other sites

I think the Yanks are using massive fines for foreign companies as a way of bolstering their economy.

But it's funny how neither the UK or Europe authorities do not sue US firms in the same manner. I seem to recall that B&BBS was buying AAA "insecure" securities from american banks that had knowingly sliced and dices a pile of toxic debt and ninja loans.

Share this post


Link to post
Share on other sites

I think the Yanks are using massive fines for foreign companies as a way of bolstering their economy.

But it's funny how neither the UK or Europe authorities do not sue US firms in the same manner. I seem to recall that B&BBS was buying AAA "insecure" securities from american banks that had knowingly sliced and dices a pile of toxic debt and ninja loans.

AHHhhh, so much like the relationship between the colonial power and it subject, everything but in name.

Share this post


Link to post
Share on other sites

If found guilty don't these banks then stand exposed to a vast wave of lawsuits as everyone they ever screwed over sues them- and in the case of Libor that could be a lot of people.

So how will the 'authorities' (what a joke that term is these days) protect their favourite fraudsters from this legal attack?

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   211 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.