Sat Mar 23, 2024 11:33 pm by globalturbo
Banks Score Court Victory in Libor Suits – 1 April 2013
Posted on April 1, 2013 by lucas2012infos | Leave a comment
Are we really surprised? I guess we know who signs this judge’s paycheque.
Banks embroiled in the LIBOR (London Interbank Offered Rate)
interest-rate rigging scandal got a big break on Friday as a
federal-court judge ruled they did not breach federal antitrust laws, a
judgment that could save the banks sizable sums from private lawsuits
seeking billions in damages.
U.S. District Judge Naomi Rice Buchwald ruled that any investor
losses caused by rate manipulation were derived from the banks’
“misrepresentation, not from harm to competition.”
To date, Barclays, Royal Bank of Scotland, and AG have shelled out $2.5 billion to U.S. and U.K. regulators.
LIBOR is the benchmark interest rate banks use when getting funds from other banks.
www.breitbart.com / link to original article/ via www.2012thebigpicture.wordpress.com
Thanks to: http://lucas2012infos.wordpress.com
Posted on April 1, 2013 by lucas2012infos | Leave a comment
Are we really surprised? I guess we know who signs this judge’s paycheque.Banks embroiled in the LIBOR (London Interbank Offered Rate)
interest-rate rigging scandal got a big break on Friday as a
federal-court judge ruled they did not breach federal antitrust laws, a
judgment that could save the banks sizable sums from private lawsuits
seeking billions in damages.
U.S. District Judge Naomi Rice Buchwald ruled that any investor
losses caused by rate manipulation were derived from the banks’
“misrepresentation, not from harm to competition.”
To date, Barclays, Royal Bank of Scotland, and AG have shelled out $2.5 billion to U.S. and U.K. regulators.
LIBOR is the benchmark interest rate banks use when getting funds from other banks.
www.breitbart.com / link to original article/ via www.2012thebigpicture.wordpress.com
Thanks to: http://lucas2012infos.wordpress.com
