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:
“Certain it is that scandal is good brisk talk, whereas praise of one’s neighbour is by no means lively hearing. An acquaintance grilled, scored, devilled, and served with mustard and cayenne pepper excites the appetite; whereas a slice of cold friend with currant jelly is but a sickly, unrelishing meat.”
—William Makepeace Thackeray (1811–1863)