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Wednesday, April 3, 2013

Judge Rules in favor of Libor Fraud because it only financially crippled main street.


Here is a critical excerpt from that dealbook article about judge Naomi Reice Buchwald of Federal District Court in Manhattan ruling against the common man suing the banks about the banks ADMITTED a conspiratorial banking fraud regarding the LIBOR scandal. But definitely check out the entire DealBook article as there is other important info as well....
Her decision (the judge) came on a motion to dismiss filed by the banks arguing that the plaintiffs could not prove a violation of the law even if it could be shown that interest-rate manipulation caused them financial harm.
So what the judge has concluded is, if a burglar steals from you, but you cannot prove you were actually harmed, then the burglar is absolved. Yes, that is EXACTLY what judge Naomi Reice Buchwald of Federal District Court in Manhattan just concluded.


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