Eliot Spitzer: ‘Every person whose interest rate depended on Libor is a victim’


Eliot Spitzer:  “The Libor scandal is perhaps the biggest market-rigging conspiracy in Wall Street history. Almost all interest rates are affected by Libor, so every person with outstanding bank-issued debt could be a victim of this Wall Street cartel.”

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Wondering Where the Money Went?

By DEADLY CLEAR

Like many Americans I have wondered what the actual spending habits of the government look like.  Here’s a pretty good chart the New York Times posted on the economy.
Looks like President Bush’s spending habits were about as bad as Wall Street’s securitization Ponzi scheme – the timing of the rip-offs are about the same.  The unanswered question is how much of the debt that is held by “THE PUBLIC” in state and local government pension funds is still holding value? For that matter – how much of all of that debt has actual Continue reading