It is unfortunate banks, their stockholders and patrons have to suffer because CEOs play the margins and gamble with the bank's money. At one time when such scandals were discovered it was the CEO and all others directly involved that would suffer through arrests, trials and prison with fines to the person to committing the crime.
Today the world is backwards. It is the little guy and little gal that takes up the slack for bank CEOs and henchmen that break the rules and exploit markets. The people at the top breaking the rules should be the ones on trial and headed for a prison where they could be in treatment with the rest of the criminals in the banking industry.
The world is created for the wealthy in the year 2016. Criminal activity is acceptable in those circles and more plans can be made to exploit the people of any country without reverence for anyone other than the money god.
September 16, 2016
By Arno Schuetze
Today the world is backwards. It is the little guy and little gal that takes up the slack for bank CEOs and henchmen that break the rules and exploit markets. The people at the top breaking the rules should be the ones on trial and headed for a prison where they could be in treatment with the rest of the criminals in the banking industry.
September 16, 2016
By Arno Schuetze
Deutsche Bank (DBKGn.DE) (click here) said it would fight a $14 billion demand from the U.S. Department of Justice to settle claims it missold mortgage-backed securities, a shock bill that raises questions about the future of Germany's largest lender.
The claim against Deutsche, which is likely to trigger several months of talks, far exceeds the bank's expectations that the DoJ would be looking for a figure of only up to 3 billion euros ($3.4 billion).
The demand adds to the problems facing Deutsche Bank's Chief Executive John Cryan, a Briton who has been in the job for a year.
The bank only scraped through European stress tests in July and has warned it may need deeper cost cuts to turn itself around after revenue fell sharply in the second quarter due to challenging markets and low interest rates.
Deutsche Bank shares, which have lost around half their value this year, tumbled 7.6 percent to 12.10 euros in Frankfurt on Friday, with analysts saying the bank may need to raise fresh funds from investors or sell assets to shore up its capital ratios.
The cost of insuring Deutsche Bank debt against default rose by around eight percent....
