Deutsche Bank news stories on Newser

Bank Industry on Alert After Threat to Deutsche CEO

John Johnson — Wed, 07 Dec 2011 18:26:24 CST

An apparent mail bomb sent to the CEO of Germany's Deutsche Bank has raised security concerns on Wall Street as well, reports CNBC . The letter, which didn't detonate, contained explosives and shrapnel, and had been addressed to CEO Josef Ackermann. It got intercepted in the mailroom of the bank's headquarters...

Feds Sue Big Banks Over Mortgages

Mark Russell — Fri, 02 Sep 2011 16:18:31 CDT

The Federal Housing Finance Agency—the agency behind Fannie Mae and Freddy Mac—has filed suit against more than a dozen big banks for their role in the mortgage meltdown mess. The feds, seeking billions in compensation, accuse the banks of misrepresenting the quality of mortgage securities, reports the New...

SEC Shredded Files to Cover Up Crimes: Whistleblower

Kevin Spak — Thu, 18 Aug 2011 12:47:40 CDT

Police aren’t generally in the habit of destroying evidence from failed investigations—but the SEC is, according to one whistleblower. SEC attorney Darcy Flynn spilled the beans to Congress in July, saying that the SEC routinely destroys all documents related to its preliminary investigations if they don’t proceed. That appears...

Feds Sue Deutsche Bank Over Reckless Mortgage Lies

Rob Quinn — Wed, 04 May 2011 06:00:00 CDT

The federal government is suing Deutsche Bank for $1 billion over shoddy mortgages that cost taxpayers hundreds of millions of dollars. The suit accuses the lender of lying to the government while arranging federal insurance on mortgages that it had recklessly approved for poor credit risks, reports the Los Angeles...

Deutsche Bank CEO: Female Execs Will Make Things 'Prettier'

Nick McMaster — Wed, 09 Feb 2011 18:04:00 CST

The CEO of Deutsche Bank has elicited howls of outrage for commenting that a law to require more women in German boardrooms would make business "more colorful—and prettier," Der Spiegel reports. Josef Ackermann made the comments in response to a proposed quota for the proportion of women in company...

Deutsche Bank to Pay US $554M for Tax Fraud

Kevin Spak — Wed, 22 Dec 2010 08:58:15 CST

Deutsche Bank has agreed to pay the US government $553.6 million to end an investigation into its alleged sale of fraudulent tax shelters, and avoid any criminal charges. The bank has admitted to taking part “in financial transactions which furthered the fraudulent tax shelters that generated billions of dollars...

Goldman Sachs Subpoenaed in Fraud Probe

Jason Farago — Thu, 30 Jul 2009 06:38:02 CDT

A Senate committee has subpoenaed Goldman Sachs, Deutsche Bank, and other financial institutions as part of an investigation into mortgage-market fraud, sources tell the Wall Street Journal . The probe appears to focus on emails and other internal communications that may show bankers' doubts about the safety of mortgage-backed securities, which...

AIG's Bailout Cash Flowing to Hedge Funds

Kevin Spak — Wed, 18 Mar 2009 07:30:46 CDT

The government cash flowing steadily into AIG is going in no small part to pay off hedge funds that bet against the housing market, the Wall Street Journal reports. The hedge funds placed credit default swap bets with other banks—Deutsche Bank and Goldman Sachs are specifically named in documents...

Stocks Inch Up After Plunge

Kevin Spak — Tue, 03 Mar 2009 08:48:50 CST

Stocks limped higher at the open today, after a punishing Monday session that left the Dow below 7,000, its worst levels since April 1997. Today the Dow was up 80 points in early trading, the Wall Street Journal reports, while the S&P and Nasdaq added 1.6% and 1....