Join Date: 08.03.2005
Whistleblower Accusations: Did Deutsche Bank Fraudulently Hide Huge Losses?
A former employee of Deutsche Bank alleges that it embellished its financial statements and concealed billions of euros in losses during the financial crisis. If it hadn't, it may have required a government bailout. Deutsche Bank vehemently denies the accusation.
Join Date: 15.09.2011
Quote from the article: "Deutsche Bank did not collapse. It didn't even need government assistance, as Ackermann was always quick to point out, even though it benefited greatly from the bailouts of many other banks. "I would be ashamed if we were to accept government money in this crisis," he told bank managers in October 2008."
You've outdone yourself with this one. You've repeated Ackermann's lie. Well, lucky for him it's a near-lie. Deutsche Bank didn't receive "government" assistance because the U.S. Federal Reserve, as the saying goes, is not Federal. It is a private bank.
Deutsche Bank received $354,000,000,000 from the Federal Reserve as a bailout. Read that again: $354 Billion dollars, or in German $354 Milliarde. They needed it because they were BANKRUPT.
You can read the United States Government Accountability 266 Page report right here. http://www.scribd.com/doc/60553686/G...-Investigation
Just go to Page 131 to see the totals that saved Deutsche Bank and other European banks. Dresdner Bank is in there for a cool $135,000,000,000.
Ackermann's comments can only make you sick. And that doesn't even count the drug money laundering that Deutsche Bank has admitted guilt to and in 2010 was fined $553,000,000. http://www.ctc.usma.edu/posts/attack...ing-operations
Deutsche Bank is just another stinking, morally corrupt, crooked, too-big-too-fail-but-really-bankrupt mega-international bank. It's time to pay off the honest depositors and then close it down.