Faculty News
Professor Lawrence White explains why he believes the Libor-based Financial Instruments Antirust Litigation may go to the Supreme Court
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Excerpt from PaRR -- "White noted that Libor is a collaboratively determined interest rate — a price, but it is an interest rate. However, according to Judge Buchwald, this interest rate is separate from the marketplace where people were buying and selling securities or mortgages or other products, and thus there was no collusion in those markets, he said. Buchwald 'didn’t see the collaborative effort in setting the Libor interest rate as a market antitrust issue,” White said. 'My personal belief is she is
wrong and eventually is going to get overturned, either by the Second Circuit or the Supreme Court,' he added."
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wrong and eventually is going to get overturned, either by the Second Circuit or the Supreme Court,' he added."
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