Perhaps you didn't pay much attention to the LIBOR scandal because you thought it didn't effect you.

Guess again.

6 Ways Big Banks Screwed Grandma in the Price-Fixing Scandal That's...

1. Lower LIBOR reduced rates of return on prudent investments.

2. Lower LIBOR squeezed pension yields.

3. Finagling LIBOR is securities fraud...

4. Artificially low LIBOR prevented bank problems from being nipped in the bud.

5. Low LIBOR helped foreclosure rates to skyrocket for the elderly.

6. Lower LIBOR devastated state and municipal budgets.


For more explanation about the LIBOR scandal see the discussion LIBOR for Dummies.

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