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Deutsche Bank MBS traders mispricing leads to $30 million loss.
Bloomberg
| 11/26/02
| Stephen Cohen
Posted on 11/27/2002 11:46:56 AM PST by greencow
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To: Dutch-Comfort
This type of chicanery is a semi-annual event on Wall Street, with its own long-established pattern of outcomes.
There is a zero chance this will reach anywhere near SCOTUS.
A couple of ruined careers, a few folks screwed out of bonuses, some re-arranging of the internal reporting relationships and adding layers of bean-counters, a press release timed to hit an inside page of the WSJ...
To: NativeNewYorker
I would wager every cent that I have that Anthony Kennedy has no clue what is going on. And why would he? I think the real issue is why Deutsche Bank doesn't hold the group head (who happens to be Justin Kennedy) accountable rather than trashing two junior traders. The answer is that they don't want to tangle with the anyone in the government or judiciary, particularly since they are a foreign bank.
22
posted on
11/27/2002 2:49:14 PM PST
by
TonyS6
Comment #23 Removed by Moderator
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