The Financial Times' Tom Braithwaite, Kara Scannell and
Michael Mackenzie are out with a big scoop that Deutsche Bank hid $12 billion
in losses during the financial crisis therefore avoiding a government bailout
during the financial crisis, three former employees allege in complaints to the
SEC.
The FT reports, citing sources familiar, that the complaints
allege that Deutsche misvalued a huge position in its credit derivatives
portfolio by not taking into consideration the losses it faced when the market
went down in 2007 to 2009. If it did, it may have needed a bailout during the
downturn…..
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