Originally published at: http://boingboing.net/2017/01/31/deutsche-bank-fined-for-launde.html
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How much does Trump owe Deutsche Bank? Will watch this with interest.
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I think a 6% haircut is cheap for money laundering services. Don’t think of it as a fine.
EDIT: Didn’t it cost Walter White something like 50% before he bought the car wash?
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So if their commission was 6.29% or less then this will actually hurt them. I admit that i don’t have any experience in international banking, but that seems low.
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Deutsche will pay the fine with laundered money.
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I’d imagine a lot. Deutsche Bank, along with Wells Fargo, was one of the few major Western banks in recent years distressed enough to lend money to a known confidence artist.
Bloomberg estimates $300M.
Will this enter DB’s annual report? Financial risks: A horrible creditor; Financial chances: We own the US president.
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And once again a corporate bad actor gets to pay a fine that is completely trivial compared to the profit they made from their illegality. Why oh why can’t we have laws that mandate that if your company profits illegally, a minimum of 200% of your company’s ill gotten gains are fucking forfeit?
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