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Dexia Sues Deutsche Bank Over Mortgage Bonds

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Another scum bank that should have been terminated.

http://www.reuters.com/article/2011/07/14/us-dexia-deutschebank-lawsuit-idUSTRE76D5GC20110714

Dexia's lawsuit, dated Wednesday, draws on evidence from confidential witnesses and congressional investigations, which found that while Deutsche Bank was touting mortgage bonds as safe, its traders were piling up big bets against them.

Deutsche trader Greg Lippman was quoted as saying the shorting of mortgage bonds produced the "largest profit obtained from a single position in Deutsche Bank history," according to the complaint.

"Unfortunately, for investors like Dexia, homeowners, and the global economy, Deutsche Bank's misconduct has been devastating," the lawsuit said.

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The big short

a Deutsche Bank mortgage trader named Greg Lippmann ended up making billions of dollars for his employer -- not to mention a $50 million bonus for himself -- by aggressively going out and finding fund managers to put on the short bets needed to keep the market ticking. (This is the same Lippmann who, when accused of being a "Chicken Little" responded by saying "****** you, I'm short your house.")

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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