Homeowners say mortgage costs inflated by Libor rigging - Oct. 16, 2012
Add one more to the list of alleged victims of Libor manipulation: homeowners.
A class action complaint filed earlier this month in New York
federal court claims borrowers with adjustable-rate mortgages based on
the London Interbank Offered Rate, or Libor, paid more than they
rightfully should have due to the rate's manipulation by the global
banks involved in setting it.
Lets call this one HARP 3.0 shall we. As noted in many Articles, 'Mericans are not paying down Debt it is being written off, and yet Banks are making profits?
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