SACRAMENTO COUNTY -- Sacramento County is suing some of the biggest banks in the world, claiming they were harmed by illegally fixed borrowing rates.
Chief Attorney in the case, Nanci Nishimura, says that the banks acted in their own favor.
"A bunch of banks that are supposed to exist to serve the public good got together and decided to cheat for their own benefit in order to inflate their own revenues," she said.
Sacramento County is just one of 15 plaintiffs across California, including the U.C. System and Houston, Texas who are suing Bank of America, Deutsche Bank, Barclays Bank, Morgan Stanley and many others.
Paragraph 404 in the document below describes examples of the Sacramento County's transactions.