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|User Info||Fleeced in Libor Scandal? US Cities....; entered at 2012-07-23 08:43:40|
Registered: 2008-01-18 Los Angeles
Also, owners of ARS and ARPS (retirees, institutions and companies) got fleeced by lower LIBOR. When the auctions filed they went to a "penalty" right which was often a multiple (anywhere from 1.25x-1.75x) LIBOR plus a small spread (e.g., 50-100 bps), but with LIBOR scraping zero, that was still a tiny yield.|