German Regulator Decides Deutsche Bank CEO Didn't Know About LIBOR After All

BaFin, Germany's financial "watchdog".  The document contains voluminous evidence which suggests that not only did Anshu Jain (who stepped down last month), know full well that his traders and submitters were likely involved in manipulating LIBOR fixes, but it was in fact Jain who "reorganized the seating order in the trading division in London in the year 2005, which resulted in traders and submitters sitting together, [in order] to achieve an open communication between both functions, especially also with regard to the LIBOR." The report goes on to describe the relationship between Jain and Christian Bittar, the bank’s rate rigger...
Gary here: If anyone thought that the Eurozone was an ethical organization only needs to understand that banksters get off there just like here in the US.


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