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January 10, 2018

Report: Trump Admin Waives Part of Punishment for 5 Banks Convicted in Libor Scandal
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In financial news, the International Business Times reports the Trump
administration has quietly waived part of the punishment for five major
banks that were convicted of manipulating global interest rates. The
banks are Citigroup, JPMorgan, Barclays, UBS and Deutsche Bank.
President Trump and his business empire owes at least $130 million in
loans to Deutsche Bank. The global interest rate manipulation scandal,
known as the Libor scandal, involved banks illegally manipulating the
interest rate, which underpins trillions in global transactions.


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