by Karl Denninger
No folks, it's not just one bank.
It appears it was basically all of them.
If you transacted in any loan that was tied to this rate at any time in the last several years, you probably got rooked, whether it was for pennies or thousands.
According to the WSJ:
Other banks that have disclosed they are under investigation include Citigroup Inc., C -2.77% HSBC Holdings HBC -3.88% PLC, J.P. Morgan Chase JPM -3.45% & Co., Lloyds Banking Group LLOY.LN -5.79% PLC and Royal Bank of Scotland Group PLC. None of these banks have been charged with any wrongdoing in the matter by U.S. or U.K. regulators.
Isn't that special? Why yes, it is.
Now if we could just see something approaching accountability.
But we won't, you know, just as we didn't when JP Morgan was involved in the disastrous Jefferson County Alabama scheme that landed several local folks in Alabama in prison on various corrupted-related charges.
The people -- who got screwed blind and sideways with permanently-larger sewer bills as a result of the corruption, got nothing back from the banksters -- they are still paying for the screwing they had inflicted on them.
I'm not one for vigilante justice, but one does have to wonder -- at what point do the people simply stop putting up with this crap?