SoylentNews

Deutsche Bank Nearing Multi-Billion Dollar Settlement with U.S. Dept. of Justice

posted by martyb on Sunday October 02 2016, @11:21PM   
from the let-the-fine-match-the-crime dept.

An Anonymous Coward writes:

http://www.reuters.com/article/us-usa-stocks-weekahead-idUSKCN1202O8

Deutsche Bank will likely cast a pall over equity markets next week as the largest German lender navigates a possible multi-billion dollar settlement with the U.S. Department of Justice [DOJ] over the sale of mortgage-backed bonds. Deutsche shares traded in the United States hit a record low on Thursday, falling as much as 24 percent since the DOJ asked the bank to pay $14 billion to settle charges related to its sale of toxic mortgage bonds before the financial crisis.

But the stock had its best day in five years Friday, on record volume, after news agency AFP reported that Deutsche was nearing a much-lower $5.4 billion settlement with the DOJ. Analysts at Morgan Stanley estimated Deutsche could pay about $6 billion to settle with the DOJ.

---

Original Submission

• Sure (Score: 3, Insightful) by Arik on Monday October 03 2016, @01:11AM

  by Arik (4543) on Monday October 03 2016, @01:11AM (#409208) Journal

  Steal $20 left out in plain sight when your family is starving - 20 years in prison.
  
  Steal $20bn by creative accounting - spend half of it on bribes and enjoy the rest at your leisure.
  
  If voting could change the system it would be illegal.
  
  

  --
  If laughter is the best medicine, who are the best doctors?

  Parent

  Starting Score:	1		point
  Moderation		+2
  Insightful=2, Total=2
  Extra 'Insightful' Modifier		0
  Total Score:		3