Consumer JusticeDebt Collection Abuse

EVERYTHING About The Banking System is a LIE! (The LIBOR LIE)

scam-alert

Did you ever get the feeling that the ENTIRE system was rigged…and that you were the one getting screwed?  Turns out you’re not (necessarily) entirely crazy. For years the banks have been busy screwing over consumers all across the world…on nearly every commercial loan transaction.

Here’s what they have to say about it:

“It’s just amazing how LIBOR fixing can make you that much money!” one trader gushed. In writing.

There isn’t a funding market! This is absurdity beyond satire. It’s Chris Morris’ “Cake is a made-up drug!” routine, only in life. LIBOR is a made-up number!

Put in very simple terms….a group of 20 bankers working primarily in London got together every day to figure out how they would manipulate the big casino called consumer finance…in a way that they benefited from and (surprise, surprise) screwed HUNDREDS OF MILLIONS OF CONSUMERS.

How? By just flat out making stuff up…..and passing along the charges to consumers:

It was easy to miss, with the impending end of civilization burning up the headlines, but a beyond-belief financial story recently crept into public view.

A Bloomberg headline on the story was a notable achievement in the history of understatement. It read:
LIBOR’S UNCERTAIN FUTURE TRIGGERS $350 TRILLION SUCCESSION HEADACHE

The casual news reader will see the term “LIBOR” and assume this is just a postgame wrapup to the LIBOR scandal of a few years back, in which may of the world’s biggest banks were caught manipulating interest rates.

MORE HERE

 

 

 

 

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