http://finance.yahoo.com/news/Deutsche-Bank-to-pay-over-apf-3257528524.html?x=0&sec=topStories&pos=3&asset=&ccode=
I'd like to see you get this same deal.
Admit your guilty of fraud, dime to a dollars says your ass
would be thrown under the jail, not let off.
This is not justice America.
It's a pay off.
Deutsche Bank admitted criminal wrongdoing and agreed to pay more than $550 million in connection with its participation in tax shelters that enabled the rich to temporarily avoid paying hundreds of millions of dollars in U.S. taxes, authorities announced Tuesday.
Federal prosecutors and the Justice Department's tax division announced the deal, saying a nonprosecution agreement requires the bank to continue cooperating and to submit to the appointment of an independent expert who will review its compliance measures and ensure it does not help people dodge taxes in the future.
Authorities said the $553,633,153 payment by the bank will include that amount of taxes and interest that the Internal Revenue Service was unable to collect from taxpayers from 1996 to 2002 because of the misconduct. It also includes a civil penalty of more than $149 million.
In a statement, Deutsche Bank said it was pleased that the investigation had been resolved.
Showing posts with label Deutsche Bank. Show all posts
Showing posts with label Deutsche Bank. Show all posts
Tuesday, December 21, 2010
Friday, November 5, 2010
Ackermann's Deutsche Bank Follies:Chickens Come Home To Roost By F. William Engdahl
http://www.rense.com/general92/bankc.htm
Oh My God!
A massive load of shit just hit the fan.
And just when you thought the Investment Banking World got boring, the bag of shit that it is just split wide open. Oh My God what a mess.
They not only eat their own, they set them up for dinner!
I hear the chain gang calling out on this one kids.
Investment Banks busted dead to rights
The earlier filing of fraud charges against Wall Street banking titan Goldman Sachs by the US Government Securities and Exchange Commission (SEC) was only the tip of a huge fraud iceberg. Now a US mortgage insurer has charged one of the most aggressive banks involved in the US subprime mortgage scam of fraud. The bank is none other than Deutsche Bank. This case is also likely to be just the "tip of a very big iceberg."
Since he left his post as president of the Swiss-US Credit Suisse bank to go to Deutsche Bank, Swiss banker Josef Ackermann has focused on making the premier German bank into an imitation of the major Wall Street banks. It seems he has succeeded only too well.
Assured Guaranty Ltd., owner of Assured Guaranty Mortgage Insurance Company of New York has sued affiliates of Deutsche Bank AG over $312 million of mortgage-backed securities (MBS), the controversial bonds that the bond insurer guaranteed and says were "plagued by rampant fraud and misrepresentations." Assured Guaranty is asking a judge to force Deutsche Bank to repurchase the loans, on which the insurer has already paid almost $60 million in loss claims with potential for tens of millions of dollars more. The suit was filed in New York State Supreme Court against DB Structured Products Inc. and ACE Securities Corp. The bond insurer, backed by billionaire Wilbur Ross, is also seeking reimbursement for the claims paid and for future losses. This is major.
Oh My God!
A massive load of shit just hit the fan.
And just when you thought the Investment Banking World got boring, the bag of shit that it is just split wide open. Oh My God what a mess.
They not only eat their own, they set them up for dinner!
I hear the chain gang calling out on this one kids.
Investment Banks busted dead to rights
The earlier filing of fraud charges against Wall Street banking titan Goldman Sachs by the US Government Securities and Exchange Commission (SEC) was only the tip of a huge fraud iceberg. Now a US mortgage insurer has charged one of the most aggressive banks involved in the US subprime mortgage scam of fraud. The bank is none other than Deutsche Bank. This case is also likely to be just the "tip of a very big iceberg."
Since he left his post as president of the Swiss-US Credit Suisse bank to go to Deutsche Bank, Swiss banker Josef Ackermann has focused on making the premier German bank into an imitation of the major Wall Street banks. It seems he has succeeded only too well.
Assured Guaranty Ltd., owner of Assured Guaranty Mortgage Insurance Company of New York has sued affiliates of Deutsche Bank AG over $312 million of mortgage-backed securities (MBS), the controversial bonds that the bond insurer guaranteed and says were "plagued by rampant fraud and misrepresentations." Assured Guaranty is asking a judge to force Deutsche Bank to repurchase the loans, on which the insurer has already paid almost $60 million in loss claims with potential for tens of millions of dollars more. The suit was filed in New York State Supreme Court against DB Structured Products Inc. and ACE Securities Corp. The bond insurer, backed by billionaire Wilbur Ross, is also seeking reimbursement for the claims paid and for future losses. This is major.
Saturday, December 12, 2009
Get Ready, Get Set, Point Fingers
http://www.nytimes.com/2009/12/13/business/13gret.html?_r=1
A little taste of Goldman god syndrome and the card tricks they use to produce those stunning special effects
DURING the lending mania, as Wall Street’s mortgage machinery hummed and the money poured in, millions of loans were bought and sold, zipping across town or around the world.
Now that this giant factory is pretty much shuttered, details are emerging about how its assembly lines actually operated. And as a dispute between two European banks and Bank of America indicates, the revelations aren’t pretty.
Starting in late 2007, Deutsche Bank invested $1.2 billion in a mortgage financing vehicle known as Ocala Funding; alongside it was BNP Paribas, a French bank that put $481 million into the same vehicle
A little taste of Goldman god syndrome and the card tricks they use to produce those stunning special effects
DURING the lending mania, as Wall Street’s mortgage machinery hummed and the money poured in, millions of loans were bought and sold, zipping across town or around the world.
Now that this giant factory is pretty much shuttered, details are emerging about how its assembly lines actually operated. And as a dispute between two European banks and Bank of America indicates, the revelations aren’t pretty.
Starting in late 2007, Deutsche Bank invested $1.2 billion in a mortgage financing vehicle known as Ocala Funding; alongside it was BNP Paribas, a French bank that put $481 million into the same vehicle
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