Libor Scandal's Potential Costs Exploding To $88 Billion Or More

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Libor Scandal’s Potential Costs Exploding To $88 Billion Or More

Libor Scandal’s Potential Costs Exploding To $88 Billion Or More

AND it’s only in the beginning stages.

HuffPO-

Funny thing about the Libor scandal: Even when there doesn’t seem to be a lot going on, the cost to banks just keeps on rising.

The latest estimates are found in a Wall Street Journal piece published Monday on all the lawyers piling up like brains-hungry zombies to file lawsuits against banks accused of manipulating Libor. The plaintiffs include small banks, like Berkshire Bank of New York, that claim they missed out on some sweet lending cash because rates were manipulated too low. They include state and local governments and other municipalities that say they lost money on interest-rate swaps because of Libor rigging. They include hedge funds and other investors who claim they were duped in trades with Libor manipulators.

[HUFFINGTON POST]

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2 Responses to “Libor Scandal’s Potential Costs Exploding To $88 Billion Or More”

  1. Charles Reed says:

    However Geithner still got a job and President Obama has not said a word about his Treasury Secretary knowing about the rigging since 2008 without reporting it to the Justice Dept!

  2. Fred Johnson says:

    Timmy’s role is to sustain the Banksters at all costs.

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