Should Oregon Sue Banks Over PERS Losses?

This seems to be a "Below the Radar" issue for most people, there has been virtually no media coverage, but once again the financial system has looted everybody with few consequences.  Lawsuits are proposed all across the country as a result of LIBOR rate manipulation by major banks.

It is estimated that municipalities in the U.S. have lost as much as $6 billion in interest income, as bond yields were artificially lowered because they were tied to LIBOR. In July 2012 the city of Baltimore became the first municipality to join a class action lawsuit demanding reparations for losses incurred due to LIBOR manipulation. Other city governments, groups of homeowners, small banks, and large investors have filed similar claims.

 Now the Service Employees International Union (SEIU) is urging Oregon to join in the lawsuits, alleging that the State may be out $110 Million in PERS and other losses.

Service Employees International Union estimates LIBOR manipulation cost the Oregon Public Employees Retirement fund and other local groups more than $110 million.
State Treasurer spokesman, James Sinks, the state's securities litigation unit looks at any malfeasance that affects accounts.
"We have attorneys looking at that both in the public and private sector to see what the actual losses were and what the next step for Oregon should be."
Sinks says the state has $125 million in lawsuits pending against several banks including JP Morgan Chase and the Royal Bank of Scotland.