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July 17, 2012
Will The MTA Sue Barclays Bank Over LIBOR Rate Manipulation Scandal? MTA Says It Will “Vigorously Pursue All Available Legal Actions”
Noticing New York
In follow-up to my story about which state and city agencies and governments will possibly be suing Barclays Bank in connection with the LIBOR interest rate manipulation scandal and mentioning a long list that are possibilities it is interesting to note that, when contacted, the MTA being on the ball had already given some thought to this subject, enough to have a statement prepared and ready in advance.
Here is the MTA’s comment from MTA Media Liaison Aaron Donovan:
“The MTA has asked its legal counsel to review its options in relation to the LIBOR scandal, and will vigorously pursue all available legal actions. We are outraged about the apparent market manipulation, and will always do everything possible to protect the MTA.”
I have asked the MTA a series of follow-up questions, mostly susceptible to simple YES/NO responses. I will supply readers with the MTA’s response as soon as appropriate.
...I have also made similar inquiries to other government agencies which probably have reason to sue Barclays (there are quite a few) and am in the process of putting these inquiries to still more. One agency that has yet to provide any response is the New York City Housing Development Corporation (HDC) which, tomorrow, Wednesday at 1:00 PM, is holding a hearing on the first issuance of bonds for the Atlantic Yards mega-monopoly since the issuance of bonds for the Ratner/Prokhorov (“Barclays”) basketball arena. A prompt response from HDC would surely be relevant to that hearing. The Hearing is at 110 William Street. For more information click on the link.
Posted by eric at July 17, 2012 12:49 PM