'12 banks worldwide sued for manipulating Libor'

W

Wallace

"A European asset manager has sued one dozen U.S., European and Japanese
banks, accusing them of conspiring to manipulate Libor, a benchmark used to set
interest rates on hundreds of trillions of dollars of securities.
Vienna-based FTC Capital GmbH and two funds it operates in Luxembourg and
Gibraltar accused the banks of conspiring to artificially depress Libor, and limit trade
in Libor-based derivatives from 2006 to 2009."
http://www.reuters.com/article/2011/04/19/libor-lawsuit-idUSN1927800220110419
 
Good luck to him, but that is a tall statement. Gathering the evidence to say that 12 banks conspired is going to be very tough. Yeah you could look at historical data but if you don't have emails or text messages you're going to have no substance behind your accusation.
 
Quote from jlancaster:

Good luck to him, but that is a tall statement. Gathering the evidence to say that 12 banks conspired is going to be very tough.
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Thats true, but good for him anyways. If he has the resources to even just shake things up a bit Im all for it.
 
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