Finans

Hvordan Deutsche Bank fik et tab på $462 millioner til at forsvinde

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Skandaler, selvmord, svindel og manipulation. Virkligheden overgår virkelig fiktionen i denne super interessante artikel skrevet af Bloomberg.

Sagen trækker tråde tilbage fra midten af 90’erne hvor Deutsche Bank satte fart på deres investerings- og derivatforretning og frem til 2008 krakket, hvorefter retsopgøret tog sin begyndelse helt frem til i dag.

On Dec. 1, 2008, most of the world’s banks were still panicking through the financial crisis. Lehman Brothers had collapsed. Merrill Lynch had been sold. Citigroup and others had required multibillion-dollar bailouts to survive. But not every institution appeared to be in free fall. That afternoon, at the London outpost of Deutsche Bank, the stolid-seeming, €2 trillion German powerhouse, a group of financiers met to consider a proposal from a team led by a trim, 40-year-old banker named Michele Faissola.

The bankers in the room had seen some financial sleight of hand in their day, but the maneuver that Faissola’s staffers proposed was audacious. They described a simple trade in two parts. For one half of the deal, Paschi would make a sure-thing, moneymaking bet with Deutsche Bank and use those winnings to extinguish its 2008 trading losses. Of course, Deutsche doesn’t give away money for free, so for the second half of the deal, the Italians would make a bet that was sure to lose. But while the first transaction was immediate, the second would play out slowly, over many years. No sign of the €367 million sinkhole would need to show up when Paschi compiled its yearend financial reports.

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