FDIC Sues 16 Global Banks For Roles In Manipulating LIBOR

See on Scoop.itDidYouCheckFirst

The FDIC filed the lawsuit on behalf of 38 banks which went bankrupt at the peak of the downturn in 2008, as a considerable part of the losses for these banks were incurred on interest-rate derivative products sold to them by the bigger banks.

Greg Russak‘s insight:

Explain to me again why bankers shouldn’t be more vigorously, forcefully, and strenuously regulated?

 

See on www.forbes.com

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