Posted on 07/19/2012 3:57:29 PM PDT by billflax
Ethics? I had that course in law school. Later, as a trial attorney, ethics was not knocking down & robbing the client at the initial interview as there was plenty of time for that later. Being a lawyer, officer of the court, or judge meant all of us were in the scam as a tag team. The only way one lost a law license was failure to pay yearly dues to the bar/lawyer organization.
Libor Woes Threaten to Turn Companies Off Syndicated Loans
"Banks are accused of massaging down submissions for the benchmark for $360 trillion of global securities during the financial crisis and artificially increasing them before it.”
Investing is dead, long live the traitor (er, I mean trader).
Dead on right. Game, Set, Match. Well done.
Can’t negotiate on an ARM mortgage note. It is my understanding from what I read elsewhere that the banks manipulated the Libor downward when they were borrowing from each other (to make their financials look strong) and then manipulated it up in order to increase mortgage payments, car payments to beef up profits.
I have an ARM mortgage My note explains in detail the libor rate in relation to how my payments would increase but it was not disclosed to me by the other party that they could and would manipulate the libor to their advantage.
I would not have signed the note if I had known that the rate could/would be manipulated to the other party’s advantage. Collusion+misreprsentation=fraud and note is voidable
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