posted on Dec, 6 2012 @ 11:10 AM
(Financial Times) -- Deutsche Bank failed to recognise up to $12bn of paper losses during the financial crisis, helping the bank avoid a
government bail-out, three former bank employees have alleged in complaints to US regulators.
The three complaints, made to regulators including the US Securities and Exchange Commission, claim that Deutsche misvalued a giant position in
derivatives structures known as leveraged super senior trades, according to people familiar with the complaints.
All three allege that if Deutsche had accounted properly for its positions -- worth $130bn on a notional level -- its capital would have fallen to
dangerous levels during the financial crisis and it might have required a government bail-out to survive.
Instead, they allege, the bank's traders -- with the knowledge of senior executives -- avoided recording "mark-to-market", or paper, losses during the
unprecedented turmoil in credit markets in 2007-2009.
Slowly but surely, we are routing out the culprits and liars. The bankers are CORRUPT. This is just another example of the rampant "cheating"
(sometimes called 'creative accounting') that has caused the imminent collapse of the financial web as we know it.
Probably the internet will be shut down before ALL of the corrupt thieves at the top are exposed - but as long as each of them, in turn, is exposed
for this stuff, we MIGHT make progress to correcting it.
Those shysters deserve to be publicly ridiculed and exiled. 500 years ago, they'd have been hanged or beheaded. Unless, of course, they were
involved closely with TPTB (the king or emperor or high-priest or whatever). It's a matter of public trust, and the banks have been blown WIDE open
as UNTRUSTWORTHY cheaters.
They deserve NO benefit of the doubt anymore. Why are they still operating? *coughs.* Conspiracies.
Most trading that goes on is super-fast automated; computers do the trading at nano-second speed. It's totally out of control, fake, and skewed. The
house ALWAYS WINS.
edit on 6-12-2012 by wildtimes because: add source link