Civil Antitrust Lawsuits Reinstated Against 16 Banks in Libor Case

[gratuitous]

2. "Every plaintiff who ended up on the wrong side"

That's a rather presumptive statement, as if the winners and losers in Libor were just random acts, like who got hit with a flooding rainstorm, and who got only enough precipitation to water their lawn. I think the evidence will show that winners and losers were very carefully apportioned, and the banks made out quite handsomely because they knew that the victims would be financially powerless to hold them accountable. Which is to say the wealthy got wealthier while the poor got considerably poorer in aggregate. After all, there's only so much money you can steal from somebody who has $25 to his name (spoiler alert: it's twenty-five bucks). Under those circumstances no one individual looks all that damaged, but in total, yeah, a shit-ton of money got redistributed.