US FDIC sues 16 banks for rigging Libor

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US FDIC sues 16 banks for rigging Libor

US FDIC sues 16 banks for rigging Libor

Everything and Anything the banks have and will EVER touch is wrapped around fraud!!!


REUTERS-

The Federal Deposit Insurance Corporation sued 16 of the world’s largest banks on Friday, accusing them of collusively suppressing interest rates.

The lawsuit, filed in the federal district court in New York, was the latest to accuse financial institutions of conspiring to manipulate Libor, or the London Interbank Offered Rate.

The FDIC said the defendants’ conduct caused substantial losses to 38 banks that the U.S. regulator had taken into receivership since 2008, including Washington Mutual Bank and IndyMac Bank.

Among the banks named as defendants include Bank of America Corp, Barclays PLC, Citigroup Inc, Credit Suisse Group AG, Deutsche Bank AG, HSBC Holdings PLC, JPMorgan Chase & Co, the Royal Bank of Scotland Group PLC and UBS AG.

[REUTERS]

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3 Responses to “US FDIC sues 16 banks for rigging Libor”

  1. Charles Reed says:

    About time the LIBOR been rigged since 2001, but only now is the FDIC bring these charges. See what happen when JPMorgan is made to pay $13 billion and the WaMu deal is exposed for what it was and that was a fraud with the FDIC.

    So JPMorgan suing the FDIC for the WaMu situation and now the FDIC who been quiet during all of this mess is now 6yrs later suing for the LIBOR, the US Treasury Secretary knew the LIBOR was rigged before he took over at the Treasury!

  2. Fraud in any contract VOIDS the contract. Most if not all promissory notes are LIBOR rigged rates. They all should be VOID. Boats, cars, planes, student loans, many contracts were LIBOR rigged rates.

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