Tag Archives: Libor

The Global Banking Game Is Rigged and the FDIC Is Suing

The Global Banking Game Is Rigged and the FDIC Is Suing
Taxpayers are paying billions of dollars for a swindle pulled off by the world’s biggest banks, using a form of derivative called interest-rate swaps; and the Federal Deposit Insurance Corporation has now joined a chorus of litigants suing over it. It is not just that local governments, ... Read more

Fed knew about Libor rigging in 2008

Fed knew about Libor rigging in 2008
The US Federal Reserve knew about Libor rigging three years before the financial scandal exploded but did not take any firm action, documents have revealed. According to newly published transcripts of the central bank’s meetings in the run-up to and immediate aftermath of the collapse of Lehman Brothers, a ... Read more