from Free Thought Project
While Americans celebrated the holidays, President Trump followed in the
footsteps of his predecessors by acting in the interest of Wall Street
and using the distraction to do something that was not in the best
interest of the American people. He pardoned five megabanks for rampant
fraud and corruption, which is especially notable because of the amount
of money he owes them.
... During the week of Christmas, the Federal Register announced
that the Trump Administration had issued waivers to Citigroup,
JPMorgan, Barclays, UBS and Deutsche Bank—all megabanks facing charges
of fraud and corruption.
The banks were involved in the LIBOR Scandal, in which they colluded
to deliberately depress the rate at which they paid out on investments.
By suppressing the London Interbank Offered Rate (LIBOR) at the
beginning of an economic crisis in 2007, the megabanks were able to
boost their earnings and to give their customers a false sense of
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