UK’s Serious Fraud Office looking at Deutsche Bank role in alleged Kaupthing credit default swap manipulation

Posted on June 7, 2010 by stacyherbert| 11 Comments

Stacy Summary: Deutsche Bank being investigated for role in alleged credit derivatives manipulation. I don’t think the SFO has ever been able to successfully investigate a single major bank or hedge fund. Let’s see if they can find anything that might jeopardise the City’s role in global derivatives fraud.

This entry was posted in Headlines and tagged cds, deutsche, kaupthing. Bookmark the permalink.

11 Responses to UK’s Serious Fraud Office looking at Deutsche Bank role in alleged Kaupthing credit default swap manipulation

sam | June 7, 2010 at 5:40 pm |

oh look, someone foreign to blame it on.

who would have guessed it would be zee germans?
stacyherbert | June 7, 2010 at 5:46 pm |

@sam – Deutsche Bank is hardly ‘foreign;’ they are one of the biggest players in the derivatives market which is global, especially London and NY
sam | June 7, 2010 at 6:30 pm |

Hey Stacy,

yeah and the article does mention that the people involved were London based.

I was just being cynical. After all it’s not like they’re going after one massive UK based international banks. Deutsche just probably forgot to make their political contributions, and are now being sent a gentle reminder.

SFO could tell the difference between Madoff and a Government run pension scheme.
flicks | June 7, 2010 at 6:47 pm |

when Geithner gets wind if this he will put a stop to it.
LinuxLiberal | June 7, 2010 at 6:55 pm |

I have a new acronym for the European countries in financial trouble that also takes care of the double “i” problem with the PIIGS.
(P)ortugal
(I)reland
(G)reece
(S)pain
(H)ungary
(IT)aly
shorthand = PIGSHIT
Marc Authier | June 7, 2010 at 7:14 pm |

@Linux
I have one GERFUK. Germany France United Kaput.
Matt Smyth | June 7, 2010 at 8:54 pm |

Deflation ? If gold trends higher then the dollar then we have inflation.
flicks | June 7, 2010 at 8:54 pm |

http://www.thestreet.com/story/10776409/1/goldman-joins-buffett-in-subpoena-elite.html

So Goldman, Buffett, Eric Kolchinsky, and Brian Clarkson get subpoenaed by “Phil” Angelides Commission.

http://en.wikipedia.org/wiki/Financial_Crisis_Inquiry_Commission

And who do they report to -

Chris Dodd’s Senate Committee on Banking :-

http://en.wikipedia.org/wiki/Christopher_Dodd

http://en.wikipedia.org/wiki/United_States_Senate_Committee_on_Banking,_Housing,_and_Urban_Affairs

and who does he and wife have connections to –

AIG
Mini US | June 7, 2010 at 11:53 pm |

@flicks

Thanks for the info.
I was getting all excited that something might just happen.
But you saved me from false hope
Cheers.
Mini US | June 7, 2010 at 11:59 pm |

Eeeewwwww!!!

Just reading abut Chris Dodds from flicks link from Wiki.

“Dodd had a reputation for being “rowdy” in his early years in the Senate,[15] including a 1985 incident where he and Senator Ted Kennedy, after a long night of drinking, made a “sandwich” out of a waitress at the Capitol Hill French restaurant la Brasserie while their dates were in the bathroom.”
Marc Authier | June 8, 2010 at 8:03 am |

Finding a german scapegaot. Very useful.