Posted on 03/14/2014 12:31:57 PM PDT by gooblah
(Reuters) - The Federal Deposit Insurance Corporation sued 16 of the world's largest banks on Friday, accusing them of colluding to suppress interest rates.
The lawsuit, filed in the federal district court in New York, was the latest to accuse financial institutions of conspiring to manipulate Libor, or the London Interbank Offered Rate.
The FDIC said the defendants' conduct caused substantial losses to 38 banks that the U.S. regulator had taken into receivership since 2008, including Washington Mutual Bank and IndyMac Bank.
(Excerpt) Read more at reuters.com ...
Rigging interest rates?
That’s the private domain of the US Government and The Federal Reserve System.
I guess they don’t like the competition.
Dem campaign coffers getting low.
“Pony up guys, this can all go away.”
I am confused... I thought the US government wanted low interest rates?
I call bullshit, the Fed (Bernanke) was doing that! It's his ass that oughtta be on trial for colluding with the top banks to drive smaller regional and community banks out of business.
The regulators are covering their asses here....
Break out the nail gun!
Oh wait, Corzine’s 31-yr-old son ‘committed suicide’ 48 hours ago?
Hm.
“rigging” is when someone accomplishes something, in some manner, and regulators claim only they are allowed to do it
Gee I wonder if this is the Season 5 Premiere of ‘MARXIST USA GOV’T SEIZES CONTROL OF BANKS.’
They didn’t stop at Fannie/Freddie. They didn’t stop at 2008 so-called ‘Bailouts,’ they didn’t stop at Corzine stealing $1.6 Billion from client accounts (then retiring to the Hamptons), and they won’t stop here.
From ‘10 Planks of the Communist Manifesto’:
COMMUNIST GOAL #5: Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.
“The Federal Reserve System, created by the Federal Reserve Act of Congress in 1913, is indeed such a “national bank” and it politically manipulates interest rates and holds a monopoly on legal counterfeiting in the United States.”
“This is exactly what Marx had in mind and completely fulfills this plank, another major socialist objective. Yet, most Americans naively believe the USA is far from a Marxist or socialist nation.”
I hadn’t heard that.
WHUT????
“Rigging interest rates?’
Should read “Rigging the Rigged Interest Rates”!
Ponzi capitalism..
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