LIBOR Scandal
In March 2013, Buchwald dismissed much, though not all, of a class action lawsuit directed at the banks that allegedly manipulated the London Interbank Offered Rate.
In particular, in a complicated 161 page memorandum of decision, she argued that U.S. antitrust law does not apply. She said that since the LIBOR-setting process was never meant to be competitive, the suppression of that process was not anti-competitive.
Read more about this topic: Naomi Reice Buchwald
Famous quotes containing the word scandal:
“We must cultivate our garden.
Furia to God one day in seven allots;
The other six to scandal she devotes.
Satan, by false devotion never flammed,
Bets six to one, that Furia will be damned.”
—Horace Walpole (1717–1797)