In Wake Of LIBOR Scandal, Department of Justice Is Preparing Criminal Cases Against Several Wall Street Banks

Time for the banksters to lawyer up. The New York Times reported on Saturday that the Department of Justice is building several criminal cases against major Wall Street banks related to the ongoing LIBOR rate-rigging scandal. Charges are expected to be brought against at least one bank and its employees by the end of this year. It's alleged that hundreds of billions – if not trillions – of dollars were manipulated in the global economy by a handful of banks colluding together to boost their own profits while screwing over working people, small businesses, and entire cities.