October 27,2016
one small voice
15 Broad , the 2008 Financial crisis tour is now more relevant than ever . In the final quarter of 2016 we have Deutsche Bank in serious trouble due to fines levied against it for misrepresenting CDO's ,collateralized debt obligations to clients when they were clearly toxic assets .
Quick summary:
$14 Billion fine by US Government. Deutsche Bank is worth approximately $15B...so this fine will kill it.
Trying to reach a settlement for a lower fine. Goldman Sachs was settled for $5B. Bank of America paid $16B, JPMorgan paid $13B.
Fine is from charges of selling toxic asset CDOs when certain people in bank knew that the stuff wasn't good.
Andrew Laun the owner of Wall Street Experience tours traded CDO's for Deutsch Bank. His trading desk told clients to short this stuff. See "The Big Short" if you haven't. Ryan Gosling plays Andrew Laun's boss Greg Lippmann...
Book the 2008 Financial Crisis Tour now : https://www.thewallstreetexperience.com/
No comments:
Post a Comment