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FDIC Jumps Into the Fray of LIBOR Manipulation

Last Friday, the Federal Deposit Insurance Corporation filed a lawsuit against 16 of the world’s biggest banks over their alleged rigging of the LIBOR interest rate. LIBOR, of course, stands for the London Interbank Offered Rate, an average, base interest rate that sets the benchmark for many commercial interest rates around the world. (Think home mortgages, car loans, student loans, and derivatives.) The LIBOR is Read More

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