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A “Deluge” Of “Craptacular Sh*t”: Barclays Complaint Reveals How They Really Felt
Early on Friday, I outlined the deals Deutsche Bank and Credit Suisse were able to strike with the US government to settle fraud allegations related to the sale of securities tied to shoddy mortgages.
The damage: $7.2 billion for Deutsche and $5.3 billion for Credit Suisse. Investors greeted the Deutsche deal with some measure of enthusiasm, bidding the shares up as much as 4% in overnight trading.
Also accused is Barclays, but as it turns out, they're in no mood to settle. "Barclays is accu
Too little and too late actions of an impotent and incompetent DOJ and the surrounding gov. Just more signs of that the current US government is now in a state of complete failure.
More importantly this is self-evident because of the embarrassment of a mentally ill and self-demonstrated incompetent President-elect that has not been dealt with in an effective, professional and direct way. Instead, there is hand wringing , vacillation and finger pointing. I knew we were in trouble, but I have to admit I didn’t see the end coming in a collapse of government responsibility where no-one was will to standup and point out the obvious and deal with it.