It appears that US home buyers may have been scammed out of nearly a half-trillion Dollars on overpriced mortgage payments:
Early analysis suggests that for a ...period of several years before and after the 2008 financial crisis, the London interbank offered rate (LIBOR) was manipulated to such an extent that a family with a $100,000 mortgage would have been $50 to $100 worse off a month because of the fixing.
$100/month per family x ~100 million families = $10 billion stolen per month in the United States alone.
Or $120 billion per year. For several years.
In the United States alone this is quite-plausibly a half-trillion dollar heist.
By fixing LIBOR rates (high or low) & using leverage on derivative investments, there are a near infinite number of ways for banksters to skim trillions of Dollars from the productive economy.
Full infographic: http://
Early analysis suggests that for a ...period of several years before and after the 2008 financial crisis, the London interbank offered rate (LIBOR) was manipulated to such an extent that a family with a $100,000 mortgage would have been $50 to $100 worse off a month because of the fixing.
$100/month per family x ~100 million families = $10 billion stolen per month in the United States alone.
Or $120 billion per year. For several years.
In the United States alone this is quite-plausibly a half-trillion dollar heist.
By fixing LIBOR rates (high or low) & using leverage on derivative investments, there are a near infinite number of ways for banksters to skim trillions of Dollars from the productive economy.
Full infographic: http://
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