Florida Looks at Entering Libor Manipulation Case


Florida Attorney General Pam Bondi is among a handful of state attorneys general trying to determine if they have jurisdiction over banks found manipulating lending benchmarks following British-based Barclays settlement with both U.S. and U.K. authorities, according to Reuters.

According to Reuters, “A spokesman for Florida Attorney General Pam Bondi said his office is aware of the recent settlement reached by British bank Barclays with U.S. and U.K. authorities and ‘will look at the case to the extent that our office might have any jurisdiction in the matter.’”

Barclays agreed to pay $453 million, admitting it lied in its Libor -- London interback offered rate -- submissions regarding borrowing costs.

Read more here.


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Comments (1)

Frank
10:00AM JUL 12TH 2012
Interesting, so Florida may enter into a suit against one of a number of foreign banks (including Barclays and Suisse) giving money to the Romney campaign (PAC).

We'll wait to see what happens.

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