Tuesday, April 2, 2013

Major Banks Not Guilty of Libor Manipilation (So Far...)

The court system has decided that only some of the private claims against the large banks be allowed to continue litigation suing the banks that allegedly manipulated the LIBOR index.  Although some banks have admitted guilt and paid penalties, most of the alleged offenders have yet to pay any penalties. Yet again, the major players that created the current worldwide recession escape responsibility.
 
It's almost like we are in the rabbit hole - what's up is down and what's down is up.  Thing just don't make any sense.  The responsible parties have been identified.  We now know culprits - this financial bust did not happen by accident.  It was manufactured by the ones who gained the most from it's tragic results.  And they go unpunished.