Tue Jul 24, 2012, 10:44 AM
kpete (54,230 posts)
EXCLUSIVE-Deutsche Bank's own Libor probe clears board-sources
(Reuters) - A Deutsche Bank (DBKGn.DE) internal probe has found that two of its former traders may have been involved in colluding to manipulate global benchmark interest rates but there was no indication of failure at the top of the organisation, three people close to the investigation said.
The preliminary conclusion contrasts with Barclays (BARC.L), which last month reached a $450 million settlement with U.S. and UK regulators over its involvement in alleged manipulation of the London interbank offered rate (Libor).
Failings at the British bank cost the chairman, the chief executive and the chief operating officer their jobs and the bank has instigated a wholesale review of its organisation.
Deutsche Bank declined to comment on the status of its internal probe. This is separate from a special probe of Deutsche Bank initiated by German markets regulator Bafin.
Read more: http://in.reuters.com/article/2012/07/24/idINWEA752120120724
once again, just a few bad apples...
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EXCLUSIVE-Deutsche Bank's own Libor probe clears board-sources (Original post)
Response to kpete (Original post)
Tue Jul 24, 2012, 10:49 AM
Fresh_Start (8,468 posts)
1. yes, there was fraud but of course there was no failure of leadership
because after all, we don't really expect anything of leadership except to accept the money