Six ways big banks screwed Grandma - Salon.com
- 1. Lower LIBOR reduced rates of return on prudent investments.
2. Lower LIBOR squeezed pension yields.
3. Finagling LIBOR is securities fraud, which ultimately spanks bank profits and harms shareholders.
4. Artificially low LIBOR prevented bank problems from being nipped in the bud.
5. Low LIBOR helped foreclosure rates to skyrocket for the elderly.
One of the worst ways Grandma has been slammed concerns what’s probably her single biggest asset: home sweet home.
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