Freddie Mac Faces An Uphill Task Over LIBOR Manipulation

Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC)  may find winning its case against over a dozen large banks for alleged manipulation of LIBOR interest rates may not be easy. In a recent article posted in the financial blog ‘Sober Look’, the author highlights the idea proposed by The Office of Inspector General of the Federal Housing Agency (FHFA-OIG) on using the Fed’s measure of deposit rates as the bench mark, instead of LIBOR. According to an internal staff memorandum report from FHFA-OIG, Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp…