Search Results for: Deutsche Bank

€4.9 billion fine for rogue trader

Jerome Kerviel

Former trader Jerome Kerviel has been ordered to spend three years in prison and pay back 4.9 billion euros (£3.9 billion) in damages for one of the biggest trading frauds in history. After a four-week trial in June, the Paris appeals court ruled this afternoon that Mr Kerviel was a …

Read More »

“Ten Days Later” – Bankia: The Supreme Irony

The May 19 issue of The Economist had the following truly prophetic ad among its pages for the now failed, and bailed out, Bankia: “Some are happy the way they are, others, like us, prefer to discover what we can become.” Ten days later the discovery process is complete: Bankia is now the …

Read More »

Bank Stocks Loved Janet Yellen’s Congressional Testimony

Bank of America

Fed chair, Janet Yellen testified before Congress on Valentine’s Day, Tuesday, 14 February 2017. The Congressional hearing provided cannon fodder to traders looking to go long on bank stocks. Yellen expressed optimism about the state of the US economy, given falling unemployment numbers, rising inflation, and robust economic growth. She …

Read More »

The biggest price-fixing scandal ever

Libor

Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this …

Read More »

How hackers stole $1billion from the banks

Carbanak bank hack

Hackers in Eastern Europe are bleeding banks dry, stealing as much as $1 billion from more than 100 financial institutions in a string of attacks that borrow heavily from targeted attacks against sensitive government and industrial targets. Researchers from Kaspersky Lab on Monday will present details on the Carbanak criminal gang, which …

Read More »

Australian Bitcoin bank hacked, $1.3million stolen

bitcoin

An Australian bitcoin bank holding over US$1 million of the crypto-currency has been hacked, leaving an unknown number of users with nothing – one of the largest thefts in the currency’s four-year history. The incident took place on October 26, when the bank was hacked, with 4,100 bitcoins valued at …

Read More »

British bank chief admits to £2.4m fraud

Jessica Harper Lloyds TSB banking fraud

Jessica Harper, a former boss for UK bank Lloyds TSB, has admitted a £2.4million fraud over a four year period, while being in charge of fraud and security for digital banking. Harper’s job was to prevent fraud at Lloyds Banking Group. But she has now attended Southwark crown court, in …

Read More »

Banks plan escape to London if Scots choose independence

Royal Bank of Scotland

Partly-nationalized British banks Lloyds and Royal Bank of Scotland (RBS) both say they would relocate their headquarters to London if Scots vote for independence on September 18. Recent polls indicating pro-union and independence camps are neck and neck have rocked British financial markets and pushed the pound to its lowest …

Read More »

Bank of Cyprus to cut 30% off deposits over €100,000

Cyprus banking crisis

Cypriots and foreigners wait in line to withdraw money from an ATM of a Laiki (Popular) Bank branch in the old city of the capital, Nicosia. Depositors in the Bank of Cyprus, the biggest bank on the island, will reportedly lose 30 percent on their holdings above 100,000 euros, the …

Read More »

Major Australian bank taken to court over interest rate rigging

NAB interest rate rigging Australian bank

The corporate regulator has launched legal action against National Australia Bank for allegedly manipulating the bank bill swap rate (BBSW) 50 times. NAB said it would fight the case. Labor leader Bill Shorten jumped on the move, saying it provided further evidence of the need for a royal commission into the banks. “How …

Read More »

This time had better be different: Australian Housing Prices and the Banks

In last week’s post I showed that there is a debt-financed, government-sponsored bubble in Australian house prices (click here and here for earlier installments on the same topic). This week I’ll consider what the bursting of this bubble could mean for the banks that have financed it. Figure 1 Betting the House For two decades after …

Read More »

Six banks fined $5.8 billion for market rigging

Citi JPMorgan Barclays RBS UBS

Editor’s note: these banks made billions more from their crimes, let alone received billions of $ in bailouts which the tax payers funded. So will we receive this money? Will any of these bankers ever go to jail for their crimes? If you or I committed the crimes that these bankers are guilty of we would …

Read More »

95% of Greek ‘bailout’ money went to European Banks

Greek bailout European banks

I simply cannot stress enough how important Greece is to freedom, liberty and civilization across the globe. Greece is not a one-off, or merely a small nation in big trouble that holds little relevance for the rest of us. Greece is everything. What is happening to Greece follows the exact same …

Read More »

US preparing for war with China and Russia to save the banks

Obama Putin Xi Ping

The United States is preparing for a possible war against China and Russia aimed at preventing the collapse of the Western banking system, an American political commentator and activist says. Michael Billington, Asia editor for the Executive Intelligence Review and author of Reflections of an American Political Prisoner: the Repression and Promise of …

Read More »

Italian government to bail out two more banks for 5.2bn euros

Italy government bail out banks

Italy’s government is bailing out two banks in the Venice region at a cost of 5.2bn euros (£4.6bn; $5.8bn). The move comes two days after the European Central Bank warned that Banca Popolare di Vicenza and Veneto Banca were failing or likely to fail. The banks’ “good” assets will be …

Read More »

Whistleblower: HSBC still laundering money for terrorists, drug cartels

HSBC drugs and terrorism financing

Big banks are apparently too big to jail, even when they bankroll terrorists and drug cartels, while regular people fill the prisons in the world’s largest drug population for mostly non-violent drug offences. As a former Anti-Money Laundering Officer at HSBC, Everett Stern was arguably never actually supposed to catch money …

Read More »

How the global collapse will be sold to the masses

world crisis

In our modern world there exist certain institutions of power.  Not government committees, alphabet agencies, corporate lobbies, or even standard military organizations; no, these are the mere “middle-men” of power.  The errand boys.  The well paid hitmen of the global mafia.  They are not the strategists or the decision makers. …

Read More »