By Mark Vorpahl Though, for most, the London Interbank Offer Rate (Libor) interest rate fixing scandal appears distant and far too complex to understand, its potential consequences may be as economically devastating as a world war. Accountingdegree.net has created a fantastic infographic explaining the gist of the scandal. The Libor is used to set payments…
Tag: Big Banks
Mortgage Fraud Settlement: A Slap on the Wrist for Banks, Continued Troubles for the 99%
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This story is from the Occupied News Wire. It was originally published in the Boston Occupier. by John Lippitt Last month, a chapter was closed in the story of bank malpractice in the US. A $26 billion settlement was agreed to by forty-nine states and five financial giants — Bank of America, Citigroup, J.P. Morgan…