I thought Warren Buffet's comments recently were quite interesting on how the civil lawsuits attending this fraud would be asymmetric, in that those who were on the losing side of LIBOR tampering in a certain transaction were likely to sue, but those who were on the winning side would keep quiet about it. The thing is, this fraud has been going on for a long time, so it is likely that all institutional participants were winners and losers at one time or another, depending on the transaction in question.
On the other hand, the public, who was completely in the dark with this fraud, was consistently the loser with interest rates, will they be made whole? That would be extremely expensive for someone.
Read the Article at HuffingtonPost
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