Unions call on Oregon to sue LIBOR banks
“Oregon state funds lost $100 million due to LIBOR manipulation,” said SEIU Local 503 leader Heather Conroy at a May 3 press conference outside the downtown Portland Bank of America tower. “This is money that could go toward smaller class sizes, more daycare for low-income kids and increased help for seniors.” Local 503 was joined by every other major public employee union at the event, which criticized the state government for inaction nearly a year after the complicated LIBOR banking scandal broke. “We believe the $110 million is just the tip of the iceberg,” said Conroy, pictured at the microphone. “Today’s the day the governor needs to stand up and do something about it by suing these banks.” Standing behind her is Angela Martin of the group Economic Fairness Oregon.
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