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Global: How much did LIBOR scandal cost investors? Experts tackle the math

By  |  June 27, 2013

As the LIBOR scandal drags on, plaintiffs have sought – and will continue to seek – damages from banks accused of conspiring to manipulate the interest rate benchmark. But crucial to a successful case is quantifying those damages and proving them in court. Now, mathematicians are hoping to tackle those calculations of just how much investors lost due to the LIBOR scandal, though it is not an easy task: experts will need a team of analysts and funding. The rate-rigging is connected to about $300 trillion in various loans, and now experts say damages may reach into the billions of dollars. Reports say analysts within the US, UK and Asia are gearing up to calculate the losses.

Full Content: Businessweek

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