Deutsche Bank won't leave mother Russia

[deminks]

Link to tweet

[Celerity]

1. Deutsche Bank is one of the largest criminal enterprises on the planet when judged as a whole.

Their history is horrific.

[FarPoint]

4. You got that right....

I have been asking myself about this Bank....so connected with tRump as well....

Thank you for sharing....

[Celerity]

8. The LIBOR Scandal

https://www.investopedia.com/terms/l/libor-scandal.asp

The LIBOR Scandal was a highly-publicized scheme in which bankers at several major financial institutions colluded with each other to manipulate the London Interbank Offered Rate (LIBOR). The scandal sowed distrust in the financial industry and led to a wave of fines, lawsuits, and regulatory actions. Although the scandal came to light in 2012, there is evidence suggesting that the collusion in question had been ongoing since as early as 2003.

Many leading financial institutions were implicated in the scandal, including Deutsche Bank (DB), Barclays (BCS), Citigroup (C), JPMorgan Chase (JPM), and the Royal Bank of Scotland (RBS).

As a result of the rate fixing scandal, questions around LIBOR's validity as a credible benchmark rate have arisen and it is now being phased out. According to the Federal Reserve and regulators in the U.K., LIBOR will be phased out by June 30, 2023, and will be replaced by the Secured Overnight Financing Rate (SOFR). As part of this phase-out, LIBOR one-week and two-month USD LIBOR rates will no longer be published after December 31, 2021.

snip


Top 3 most evil (yes, evil) global banks IMHO

JP Morgan Chase
Goldman Sachs
Deutsche Bank

[Sherman A1]

2. To the surprise of

No one, I suspect……

[DanieRains]

3. Laundering Money Stolen From The Russian People Is Half Of Their Business

And has been for years.

They should be sanctioned.

How about that!

[bucolic_frolic]

5. I want to be cynical and take a dark view

and I do, but it must be said that there must be some financial ties simply to clear payments of foreign exchange however reduced they be.

[hatrack]

6. And walk away from the sweet, sweet oligarch teat?

Never.

[HAB911]

7. Deutsche Bank needs to be shut down

Money laundering central

[ProudMNDemocrat]

9. That is TDFG's favorite place to shop.

He owes hundreds of millions to Deutsche Bank via Putin.

[C_U_L8R]

10. They've chosen Russia over the world.

Let them stay there.

[Scrivener7]

11. They advertise their filthiness, so they will always have customers.

[LetMyPeopleVote]

12. Deutsche Bank Reverses Decision and Will Now Shut Down Operations in Russia

Link to tweet

Deutsche Bank’s CFO said Thursday it is not “practical” to close its Russian business, despite similar moves by major corporations seeking to distance themselves from Putin’s globally unpopular invasion of Ukraine. Deutsche had resisted pressure to sever ties, arguing that it needed to support multinational firms doing business in Russia. The German bank’s chief financial officer defended the decision, saying it hinged on its duty of care to clients that still operate in the country.

But the longtime former lender to Donald Trump reversed course on Friday, announcing that they plan to shut down its business in Russia. Going forward, Deutsche Bank said there won’t be “any new business in Russia.” The move comes a day after first Goldman Sachs and then JPMorgan Chase revealed plans to wind down their own operations in Russia.

It’s not clear what sparked the reversal from Deutsche Bank, which said earlier this week it has “limited” exposure to Russia, with gross loan exposure of about $1.5 billion. That’s more than twice the amount of exposure Goldman Sachs indicated it has. “As we have repeatedly said, we condemn the Russian invasion of Ukraine in the strongest possible terms and support the German government and its allies in defending our democracy and freedom,” Deutsche Bank said in its statement.

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