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Deutsche Bank Watchdog Comes Up With New And Delightful Way to Call Someone A Liar

Try and incorporate it into your life today.
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Back in May, BaFin, Deutsche Bank's chief regulator, sent the bank a report accusing numerous current and former senior executives of basically covering up employees' attempts to manipulate Libor, and letting said attempts go on for years. The Journal recently obtained a copy and all the big names are present and accounted for-- ex-CEO Anshu Jain, General Counsel Richard Walker, Chief Risk Officer Stuart Lewis, among others. In addition to the verbal linguistics of Deutsche Bank apologizing for stuff it claims never happened ("Deutsche Bank strongly disputes BaFin’s criticisms, while saying in a statement that it expresses 'deep regret for the wrongdoing that occurred' and saying that the bank has improved its internal procedures"), our favorite part is how BaFin describes an (alleged!) bald-faced liar:

Another executive, Deutsche Bank’s European CEO, Stephan Leithner, is faulted for alleged “incorrect attestation” of facts related to traders’ roles in multiple benchmark-rigging investigations.

Germany Blasts Deutsche Bank Executives Over Culture [WSJ]


Layoffs Watch '12: Deutsche Bank

The Germans thought about it and decided yes, layoffs sound like a great idea. Deutsche Bank said it will eliminate 1,900 jobs, including 1,500 at the investment bank, as part of an effort to save 3 billion euros ($3.68 billion). Deutsche Bank, based in Frankfurt, forecast “substantial costs” to achieve the savings without giving a figure in a statement to the stock exchange today. The job reductions are part of a strategy review Anshu Jain and Juergen Fitschen, Deutsche Bank’s new co-chief executive officers, are conducting as the lender grapples with declining revenue from the investment bank, which reported a 63 percent decline in second-quarter earnings today...“The time for vague promises of cultural change in our industry is long gone,” Jain said on a conference call with analysts and reporters. Deutsche Bank’s leaders are “totally determined to act quickly and decisively.” Deutsche Bank To Cut 1,900 Jobs In Bid To Save EU3 Billion [Bloomberg]

Deutsche Bank Has A Dream

But it needs everyone's help.