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.
http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=8668
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