Beyond irony: U.S. sues banks for suppressing interest rates

Section:

U.S. Regulator Sues 16 Banks for Rigging Key Interest Rate

By Nate Raymond
Reuters
Friday, March 14, 2014

NEW YORK -- 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 banks named as defendants include Bank of America Corp., Barclays, Citigroup, Credit Suisse Group, Deutsche Bank, HSBC Holdings, JPMorgan Chase & Co., the Royal Bank of Scotland Group, and UBS.

The lawsuit also named the British Bankers' Association, the U.K. trade organization that during the period at issue administered Libor. ...

... For the full story:

http://www.reuters.com/article/2014/03/14/us-fdic-libor-idUSBREA2D1KR201...



ADVERTISEMENT

Safe and Private Allocated Bullion Storage In Singapore

Given the increasing risks in financial markets, it is more important than ever to own physical bullion coins and bars and to store them in the safest vaults in the world in the safest jurisdictions in the world. Gold advocates Jim Sinclair and Marc Faber have recommended Singapore.

Now, with GoldCore, you can own coins and bars in fully insured, segregated, and allocated accounts in Singapore with the ability to take delivery. Learn more by downloading GoldCore's Essential Guide To Storing Gold In Singapore:

http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore

And for more information call Daniel or Sharon at +44 203 0869200 in the United Kingdom or at +1 302 635 1160 in the United States. Or email them at info@goldcore.com.



Join GATA here:

Mines and Money Hong Kong
Hong Kong Convention and Exhibition Centre
Monday-Friday, March 24-28, 2014
Hong Kong Special Administrative Region, China

http://www.minesandmoney.com/hongkong/

Porter Stansberry Natural Resources Conference
AT&T Performing Arts Center
Margot and Bill Winspear Opera House
2403 Flora St., Dallas, Texas
Saturday, May 31, 2014

http://stansberrydallas.com/

Canadian Investor Conference 2014
Vancouver Convention Centre West
1055 Canada Place, Vancouver, British Columbia
Sunday and Monday, June 1 and 2, 2014

http://cambridgehouse.com/event/25/canadian-investor-conference-2014-inc...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16