Libor Scandal: The Federal Reserve Bank of New York became aware in April 2008 that Barclays wasn't disclosing accurate rates, but didn't stop the illegal activity, The New York Times reports. The revelation came in Fed documents requested by lawmakers who are investigating regulators after the British bank admitted that it manipulated the London interbank offered rate, known as Libor.
Sandusky Suits: Following the release last week of a report by former FBI Director Louis Freeh on the Jerry Sandusky scandal, Pennsylvania attorneys are predicting that victims of former Penn State assistant football coach could claim millions of dollars in suits against the university, The Legal Intelligencer reports. "Settle all the cases immediately," Philadelphia plaintiffs attorney Ken Rothweiler said he would tell Penn State if he was representing it.
Approval: The judge in Tribune Co.'s bankruptcy case said on Friday that he will back a plan that would make a group of hedge funds and banks based in New York and Los Angeles the media company's new owners, the Chicago Tribune reports. The company owns the Chicago Tribune, the Los Angeles Times and The Baltimore Sun, among other dailies. It also has several television stations, including WGN America and WDCW, the CW affiliate in Washington.
'Dirty Old Man': Per Diem Fifth Circuit District Court Judge Frank Rothschild in Hawaii called an attorney a "dirty old man" after the lawyer was convicted of harassment for licking a woman's ear, the Associated Press reports. A 21-year-old woman said Kauai attorney Lawrence McCreery, 64, licked the back of her right ear when she was discussing a child custody case with him.