finance

LIBOR Rate-Fixing Scandal Sets Off Investigations, Lawsuits Against Big Banks

Submitted by Rain on Sat, 08/11/2012 - 07:53

Published on Aug 10, 2012 by
 

Cities around the country, from Baltimore to Oakland, are taking legal action against the banks responsible for suppressing the London interbank offered rate, Libor. And some 75% of major cities involved in libor-tied interest-rate swaps stand to reclaim taxpayer losses in addition to libor-backed mortgage holders who lost money on the rate's manipulation.

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Euro-Contagion: Germany outlook 'negative' over nonstop debt debacle of others

Submitted by Rain on Tue, 07/24/2012 - 18:33

Published on Jul 24, 2012 by

Rating agency Moody's has set itself on a collision course with German Chancellor Angela Merkel - after changing the country's credit outlook to negative. The agency even hinted at possible downgrades - if the Eurozone gets worse. But Merkel immediately fired back that Germany would remain Europe's financial haven, despite the Eurocrisis.

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Super-Rich Rabbit Hole: Wealthy stash $21 tn in offshore havens

Submitted by Rain on Tue, 07/24/2012 - 11:36

Published on Jul 23, 2012 by

Wealthy tax evaders, aided by private banks have exploited loopholes in tax legislation and stashed over $21 tn in offshore funds, says a report - READ MORE: http://on.rt.com/nprjg1

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