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A federal judge has dismissed antitrust claims filed against 16 banks in connection with the...

A federal judge has dismissed antitrust claims filed against 16 banks in connection with the alleged manipulation of LIBOR on the grounds that misrepresenting rate submissions does not "harm competition." LIBOR is a "cooperative endeavor" and thus cannot appropriately be viewed as "competitive." The ruling is a major victory for the banks — antitrust claims can mandate treble (triple) damages. 
Comments (3)
  • aeroguy48
    , contributor
    Comments (657) | Send Message
     
    Huh? So does that mean the Federal judge is a liberal socialist elietist?
    30 Mar 2013, 12:42 AM Reply Like
  • Ray Lopez
    , contributor
    Comments (1526) | Send Message
     
    The Federal judge wisely sidestepped the issue by saying LIBOR does not harm competition and is not competitive--the exact opposite of the truth. By doing so, a huge, costly and drawn out legal battle with no clear winners is avoided. Classic justice BTW. With limited resources, you cannot expect courts to take on such litigation.
    30 Mar 2013, 05:26 AM Reply Like
  • The Geoffster
    , contributor
    Comments (4013) | Send Message
     
    Good news for the ultimate interest rate manipulator, Der Fed.
    30 Mar 2013, 08:45 AM Reply Like
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