LIBOR Rate-Fixing Scandal Sets Off Investigations, Lawsuits Against Big Banks
Cities around the country, from Baltimore to Oakland, are taking legal action against the banks
responsible for suppressing the London interbank offered rate, Libor. And some 75% of major cities
involved in libor-tied interest-rate swaps stand to reclaim taxpayer losses in addition to libor-backed
mortgage holders who lost money on the rate's manipulation.