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Thread: FDIC Sues World's Largest Banks Over LIBOR

  1. #1 FDIC Sues World's Largest Banks Over LIBOR 
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    I considered posting in Business, but this is actually a very political issue, and furthermore involves foreign affairs.

    The FDIC has sued some fifteen of the largest banks in the world, including BOFA, Citigroup, Credit Suisse, and UBS.

    FDIC sues banks over Libor rigging - latimes.com

    Looks like finally we're gonna get some back.


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    Good for them.

    Banks haven't been the most society-friendly things over the last few years.


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    Interesting. I was curious to find out what jurisdiction the suit was filed in, unfortunately OP's link does not say. Hunting around, I found a link to a FOX news article that has a copy of what appears to be the filing paperwork on its front page. This was filed in US district court in New York. I am curious to see how the international politics of foreign based banks being sued by an arm of the US government in a US court plays out.

    The FOX article: FDIC Sues Banks Over Rate Rigging | Fox Business
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    Now all we have to do is find information on the story from a reputable source.
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    Quote Originally Posted by danhanegan View Post
    Interesting. I was curious to find out what jurisdiction the suit was filed in, unfortunately OP's link does not say. Hunting around, I found a link to a FOX news article that has a copy of what appears to be the filing paperwork on its front page. This was filed in US district court in New York. I am curious to see how the international politics of foreign based banks being sued by an arm of the US government in a US court plays out.

    The FOX article: FDIC Sues Banks Over Rate Rigging | Fox Business
    You ain't just whistlin' "Dixie" there, dan. Thing is, none of them can afford to try to shut us out. So they'll fight the lawsuit in court and try to settle. The question is how good the evidence is.

    Quote Originally Posted by Daecon View Post
    Now all we have to do is find information on the story from a reputable source.
    The LA Times is still OK. I think Bloomberg has an article on it too, and on this kind of stuff they're usually scrupulously accurate.
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    Dang it, still getting used to consolidating posts. It will be a habit soon.
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