Seeking Alpha

Attempting to avoid a bailout during the financial crisis, Deutsche Bank (DB) - with knowledge...

Attempting to avoid a bailout during the financial crisis, Deutsche Bank (DB) - with knowledge of senior executives - hid about $12B in losses on a massive derivatives trade, according to three former employees. The complaints - made to regulators including the SEC - were all made independently of each other over the past two years. Deutsche says the allegations are old news and an investigation has found them to be "wholly unfounded." Shares -3.5% AH.
Comments (8)
  • HackFab
    , contributor
    Comments (1115) | Send Message
     
    ...and the U.S. faked the moon landings....
    5 Dec 2012, 05:05 PM Reply Like
  • TangoOscar
    , contributor
    Comments (377) | Send Message
     
    And the person in charge of Deutsche Bank's legal compliance is also the same person who is the Chief of Enforcement at the SEC. What a scam this whole financial system is. Regulation my ass!

     

    http://bit.ly/11Wc4lY
    5 Dec 2012, 05:33 PM Reply Like
  • WMARKW
    , contributor
    Comments (10471) | Send Message
     
    Old news - so they say. Too bad they didn't use the "disgruntled former employees" ploy. Oh well.....so long as no one will attempt to prosecute them, life goes on and investors - particularly in the banking sector have no clue about the completeness, or accuracy of their financial statements. Can you say - "ten foot pole"?
    5 Dec 2012, 05:38 PM Reply Like
  • WMARKW
    , contributor
    Comments (10471) | Send Message
     
    And just a few minutes ago:

     

    By Sarah N. Lynch

     

    WASHINGTON (Reuters) - U.S. securities regulators on Wednesday charged a Wells Fargo investment banker and nine others for their alleged role in an insider-trading ring that earned more than $11 million by trading on tips about impending mergers.

     

    The Securities and Exchange Commission said that John Femenia, 30, misused his position at a unit of Wells Fargo to obtain material, non-public information about four different mergers involving firm clients."

     

    Must be hard to work at the banks and not become corrupt.
    5 Dec 2012, 06:35 PM Reply Like
  • Interesting Times
    , contributor
    Comments (11549) | Send Message
     
    Nah,,,,,,,,ALL the banks are honest..ALL the traders the same.....Thats what SANTA told me !!!!!
    5 Dec 2012, 08:52 PM Reply Like
  • HackFab
    , contributor
    Comments (1115) | Send Message
     
    WASHINGTON (Happyland News Wire) - Jon Corzine to become next Treasury Secretary
    5 Dec 2012, 09:21 PM Reply Like
  • divinecomedy
    , contributor
    Comments (466) | Send Message
     
    We should allow Jon Corzine to become both Treasury Secretary and head of another major investment bank. Centralized position can only improve decision making at all levels.
    6 Dec 2012, 12:24 AM Reply Like
  • june1234
    , contributor
    Comments (2694) | Send Message
     
    Wonder how much of the $700 trillion global derivatives market is "misvalued", replaces old term fraud.
    6 Dec 2012, 08:42 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector