Investors suing dozen of banks on Libor

Oh finally, but probably too late… Just like not knowing that the loans never made it to the trusts because the trustees agreed to rehypothecation…

Justice League

Courthouse News:
About two dozen banks and financial institutions conspired to artificially suppress and manipulate the London interbank offered rate (Libor) between 2007 and 2010, institutional and individual investors claim.

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3 thoughts on “Investors suing dozen of banks on Libor

  1. We have been saying that they should have demanded a audit on these trust to see the truth.

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  2. Investors is going to recoop as much as they can from the big banks. Homeowners should be suing the banks over LIBOR. There is currently a case in NY of a class action by homeowners on LIBOR. That case is still pending. And of course, NY AG is suing banks over LIBOR. Suing over LIBOR is very differcult in the US since LIBOR is a benchmark rate in London. This country as well as globally created a big financial mess that differcult to fix when they allow securitization of any financial products to be deregulated. They need to end securitization, bringthe Glass-Steagall Act in the U.S., regulate REMICs to suspend the bank licenses of banks in which those that don’t transfer mortgage backed securities properly into the trusts within the 90 day guidelines.

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