Frank Smith Says NB: The biggest financial fraud in history receives scant media attention

Monday, July 9, 2012

The biggest financial fraud in history receives scant media attention

5 comments:

Anonymous said...: From the headline it appeared it might be another story about slymeball Donovan.; July 9, 2012 at 11:36 AM
Anonymous said...: How the LIBOR rigging affects the NB Firefighters'....

Many cities and municipalities have made investments or loans based on the LIBOR rate. For example, the City of Baltimore, Maryland and New Britain Firefighters’ Benefit Fund recently filed a complaint against Citigroup Inc., Credit Suisse AG, Bank of America Corp. and more than a dozen other banks, claiming that they “artificially suppressed” the LIBOR rate, causing them substantial financial loss.; July 9, 2012 at 3:17 PM
Anonymous said...: How the LIBOR rigging affects the NB Firefighters'....

Many cities and municipalities have made investments or loans based on the LIBOR rate. For example, the City of Baltimore, Maryland and New Britain Firefighters’ Benefit Fund recently filed a complaint against Citigroup Inc., Credit Suisse AG, Bank of America Corp. and more than a dozen other banks, claiming that they “artificially suppressed” the LIBOR rate, causing them substantial financial loss.; July 9, 2012 at 3:17 PM
Anonymous said...: LIBOR - London Interbank Offered Rate....

LIBOR is an acronym for the London Interbank Offered Rate, which is the average interest rate set by a group of international banks and charged by and between banks.

Sixteen-(16) banks set the LIBOR rate: Bank of America, Bank of Tokyo-Mitsubishi, Barclays Bank, Citibank, Credit Suisse, Deutsche Bank, HBOS, HSBC, JP Morgan Chase, Lloyds TSB Bank, Rabobank, Royal Bank of Canada, Norinchukin Bank, Royal Bank of Scotland, UBS, and West LB.

LIBOR sets short and long term interest rates for 10 currencies and for 15 different time spans, ranging from one day to one year. The rate is calculated daily by a company named Thomson Reuters, which is the parent company of Reuters News, and is overseen by the British Banking Association.; July 9, 2012 at 8:41 PM
Anonymous said...: Anonymous said...

From the headline it appeared it might be another story about slymeball Donovan.

...or the Sherwood mayor's office?; July 9, 2012 at 10:20 PM

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