Common Sense Commentary: It was just a matter of time before this began to happen. This is just the first of many Bullion Banks that will abandon their dam destruction policies, pay fractional fines, and distance themselves from the doomed dam.
My comments to the following article are in blue.
This from Reuters News Service:
German regulator ends Deutsche Bank probes over fixing scandals
FRANKFURT |
Germany's financial regulator will take no further action against Deutsche Bank over alleged interest rate rigging and precious metals price fixing, the country's largest lender said on Thursday. (The word "alleged" is such a cop-out. The evidence is in flashing red lights with sirens and has been screaming at these crooks for 30 years. So they agreed to pay a $2.5 billion fine though they aren't admitting any guilt. RB)
The watchdog, Bafin, has also drawn a line under a special audit into a derivatives trade with Italy's Monte dei Paschi, Deutsche said in a statement. Bafin confirmed it had closed the special audits but declined to comment on details. (Because he didn't want the world to know his and the government's give away deal they made with their buddies. RB) "Bafin does not see the need to take further action against the bank or former and current members of the management board with respect to the closed special audits," Deutsche said, adding the regulator cited changes it had already implemented or planned to redress shortcomings for its decision. (Double talk meaning nothing except overlooking the extent of the crime. RB)
With the move, Bafin has finally dismissed allegations that Deutsche's former co-chief executive Anshu Jain may have misled regulators during investigations into interest rate manipulation. (No "may have" to it. He did it. RB)
In December, Reuters reported Bafin had found no indication that Jain was aware or part of possible attempts at the German lender to manipulate interest rates. (So he is the CEO but didn't know where all those $billions of profit were coming from? RB)
Regulators have accused some of the world's largest financial institutions of tainting markets with fraud and collusion and several top executives have lost their jobs over the scandal. (What took them so long? It has been going on for 30 years. So they fire "several" executives, who are now on vacation with their $millions, but leave the CEO with his $billions ready to spin the rigged roulette wheel again. RB)
Deutsche is still examining whether it will take any action against individuals, several people familiar with the bank's policy said. (Oh, yes, of course they will think about it for a week and forget it as the heat dies down. No one else will be fired. RB)
And Bafin is still looking into $10 billion in suspicious trades made by Deutsche Bank clients via its Moscow office, which may have allowed clients to move money from one country to another without alerting authorities in 2014. ("looking into it" means, "mention it because it is common knowledge and then stop mentioning it and leave it under the rug. RB)
"We have taken many steps to improve our controls and processes and to strengthen the Bank’s governance," Chief Executive John Cryan said in the statement. (The same governmental line used a million times before, and means "nothing needs changing" RB)
At the bank's annual press conference last month, Cryan said he would personally make sure the bank drew a line under its legal headaches. ("drawing a line under it" requires a few inches of black pencil lead ... nothing more. RB)
Deutsche in April agreed to pay $2.5 billion to resolve investigations it manipulated benchmark interest rates used to price loans and contracts around the world. Authorities at the time also ordered the bank to fire employees and accused it of obstructing regulators. ($2.5 billion is about 2 1/2 % of the $100 billion they made off of their scamming crimes. RB)
Deutsche was also probed for its role in alleged price rigging of gold, silver, platinum and palladium. The lender decided in late 2014 to wind down its physical precious metals trading business. (Why? Now that they have finished "winding down"... unwinding their crime, they go public to let the pressure out of the explosion. The reason they "decided to wind down" gold and silver manipulation is because they could see they were loosing control of it, and it would soon come back to bite them in their naked short positions. This corruption at Deutsche Bank is, given the global nature of banking today, an arrow pointing to J.P. Morgan Chase et al, which we shall soon see in the U.S. RB)
And so the world turns ... bankster humanoids lie, steal and cover up with fig leaf fines ... like Adam and Eve, while they finish off the apples. RB
No comments:
Post a Comment