From HuffPo: US Government Suing Deutsche Bank for $1 Billion

According to an article in the Huffington Post, the US Government is going after Deutsche Bank for at least $1 Billion for fraud:


The Justice Department sued Deutsche Bank AG, one of the world's 10 biggest banks by assets, on Tuesday for at least $1 billion for defrauding taxpayers by "repeatedly" lying to a federal agency when securing taxpayer-backed insurance for thousands of shoddy mortgages.

MortgageIT, a subsidiary of Germany's largest lender, egregiously violated federal rules that came with government backing on more than 39,000 mortgages worth more than $5 billion since 1999, according to the lawsuit filed in Manhattan federal court.


This could have an interesting impact on world markets if it's the start of an ongoing accountability initiative...(I know - wishful thinking...)

Keep in mind, Deutsche Bank is one of core members of the Thieves Guild.

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