#1 ·
Lately, all the major news networks have been buzzing about how the US DOJ is hitting Deutsche Bank with a $14 billion fine, something that could potentially shake the entire global financial sector.
I haven't dug into any specific articles regarding the exact reasons for this penalty, but from what I've gathered through vague mainstream media reports, it seems to be tied to the sale of US Subprime lenders products that triggered the 2008 crisis.
So, I'm a little confused here...
Americans didn't just fail to penalize their own financial institutions that offloaded those subprime products; they actually stepped in to bail out and recapitalize many of them.
How does it make sense that a German bank is getting hammered now for selling the exact same financial products that US banks were peddling—the same ones the US government didn't punish, but actually saved?!
It feels totally contradictory...
I'm probably missing something, so if anyone knows the deal, please fill me in.
I haven't dug into any specific articles regarding the exact reasons for this penalty, but from what I've gathered through vague mainstream media reports, it seems to be tied to the sale of US Subprime lenders products that triggered the 2008 crisis.
So, I'm a little confused here...
Americans didn't just fail to penalize their own financial institutions that offloaded those subprime products; they actually stepped in to bail out and recapitalize many of them.
How does it make sense that a German bank is getting hammered now for selling the exact same financial products that US banks were peddling—the same ones the US government didn't punish, but actually saved?!
It feels totally contradictory...
I'm probably missing something, so if anyone knows the deal, please fill me in.