Deutsche Bank Flew and Fell. Some Paid a High Price.
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Anshu Jain was a force behind Deutsche Bank’s appetite for risk. The bank has agreed to pay $7.2 billion to settle a claim that it pushed toxic mortgages on investors.CreditHenry Leutwyler/Contour by Getty Images
In 2005, Deutsche Bank, then a powerhouse in the selling of risky derivatives on a global scale, was minting money.
To mark the moment, the bank’s profit engine — its global markets division — commissioned a book about itself. The remembrance would celebrate how Deutsche Bank, once a sleepy lender to German car companies, had transformed itself in just 10 years into a force in financial engineering, selling interest-rate swaps, credit derivatives and opaque tax-slashing investment vehicles to the world’s wealthy elite…
Deutsche Bank Flew and Fell. Some Paid a High Price.
