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German bank in Lehman embarrassment

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posted on Sep, 17 2008 @ 11:06 PM
A needle in a haystack?

BERLIN (AP) -- The German government on Wednesday demanded a swift explanation of an apparent technical mistake that led a state-owned development bank to transfer 300 million euros ($426 million) to Lehman Brothers shortly before its bankruptcy.


Does this happen a lot? I'm not sure what to make of it or why it would be done intentionally. Sabotage? Or some last ditch effort to help them out?

All I know is my radar went off when I saw this...maybe some of you more in the know can make better speculations than I can.

The German government however doesn't seem to buy the 'technical mistake' explanation.

[edit on 9/17/2008 by toepick]

posted on Sep, 17 2008 @ 11:10 PM
Well they had to meet the last months payroll somehow.

posted on Sep, 17 2008 @ 11:33 PM
reply to post by TH3ON3

thats possible, but:

KfW said on Tuesday it mistakenly transferred the funds to Lehman on the day the investment bank filed for bankruptcy. The Frankfurter Allgemeine Zeitung (FAZ) newspaper reported that the payment was due to an erroneous swap payment.

maybe its just something that was scheduled in a computer, an automatic transaction of some kind? But that wouldn't explain why the Gov was upset about it.

Seems like some kind of 'insider' plan of action done at the last minute.

Doesn't seem like these two banks are connected in any way (other than doing business with each other).

posted on Sep, 18 2008 @ 01:14 AM
You do realize that the poor german bank may not get very much of it's money back. That's going to be a nasty loss on the books. It is quite unusual. I wonder if there is some shenanigens at work.

posted on Sep, 18 2008 @ 11:49 AM
reply to post by SevenThunders

Thank you!! I was beginning to feel kinda silly

Anyone else on this??

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