<div class='node-body'><p>In a sign of the close relationship between regulators and banks, documents released Friday show that the Federal Reserve Bank of New York knew of the rate rigging scandal as far back as 2007 and did nothing to stop it.</p>
<p><a href="http://www.flickr.com/photos/kgnixer/7227225054/" title="Honk to Indict Banksters by niXerKG, on Flickr"><span class="image-right" style="width: 275px"><img alt="Honk to Indict Banksters" border="0" src="http://farm8.staticflickr.com/7225/7227225054_a203a03ccb_n.jpg" style="width: 275px; height: 184px;" title="(photo: niXerKG)" /><span class="caption">(photo: niXerKG)</span></span></a></p></div><div class="field field-type-filefield field-field-news-hp-image">
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<img src="http://www.commondreams.org/sites/commondreams.org/files/imagecache/news_archive_thumbnail/article_images/honktoindict.jpg" alt="[field_image_caption-raw]" title="" class="imagecache imagecache-news_archive_thumbnail imagecache-default imagecache-news_archive_thumbnail_default" width="70" height="40" /> </div>
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<p><a href="http://www.commondreams.org/headline/2012/07/14-0" target="_blank">read more</a></p>