Wednesday, December 05, 2012

Bank Allegedly Hid $12 Billion in Losses

Dec. 5 (Financial Times) - Deutsche Bank failed to recognise up to $12 billion of paper losses during the financial crisis, helping the bank avoid a government bail-out, three former bank employees have alleged in complaints to US regulators. 
Robert Khuzami, head of enforcement at the SEC, has recused himself from all Deutsche Bank investigations because he was Deutsche's general counsel for the Americas from 2004 to 2009. Dick Walker, Deutsche's general counsel, is a former head of enforcement at the SEC.  
Job swap. Sweet.