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Interest Rate-Fixing Scandal Swindles Baltimore, Other Municipalities out of Millions of Dollars
Posted
July 18, 2012
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July 18, 2012
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9:03Now PlayingAmidst the financial crisis of 2008 and resultant recession, cities and states around the country lost millions of dollars on investments tied to the London Interbank Offered Rate (Libor). Far from a "free market phenomenon," they say the rate was suppressed by a cartel of some of the world's largest banks, and the city of Baltimore is taking them to court.
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