From the WSJ: In the latest sign of the potential legal
vulnerability facing banks ensnared in the world-wide probe of interest-rate
manipulation, a New York lender alleges in a lawsuit that it was cheated out of
interest income because rates on loans tied to Libor were
"artificially" depressed.
The lawsuit effectively argues that the alleged manipulation
short-changed lenders by helping borrowers pay less for mortgages and other
loans.
Berkshire Bank, with 11 branches in New York and New Jersey
and about $881 million in assets, claims in a proposed class-action lawsuit in
U.S. District Court in New York that "tens, if not hundreds, ...
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