LieBOR as the Dimon Tax

How much did the bankster steal? Yves Smith gives this conservative estimate, but warns that this is just the tip of the derivatives iceberg.

So how far down does the iceberg go?

We already know the banksters used LieBOR as the rocket fuel to power their lunatic derivatives scams. But Nomi Prins and Paul Craig Roberts point out that after the 2008 crash, the banksters have been forced to game the bond market in an attempt to keep the neoliberal financial bubble afloat.

The implications are staggering.

The banksters constantly whine about how a Tobin tax on speculation would be a hindrance on the wondrousness of the free market. But they themselves indulged in a global pigopoly to systematically fleece municipalities, governments, pension funds and savers -- or what we should start calling, in honor of JP Morgan's Overlord of Theft, the "Dimon tax".