Radio Havana Cuba

A friendly voice around the world

  • Follow Us on

#NoMasBloqueo #SolidaridadVsBloqueo

Deutsche Bank Announces $7.2 Billion Settlement on Toxic Mortgages

New York, December 26 (RHC)-- In financial news, Deutsche Bank is set to pay $7.2 billion in fines over its role in the U.S. housing market collapse, in a tentative settlement with the U.S. Department of Justice. 

Between 2005 and 2007, Deutsche Bank packaged toxic mortgages into securities it sold to investors.  The tentative deal is barely half of the $14 billion fine the Justice Department was seeking. 

The Wall Street Journal reports the Obama administration scrambled to secure the deal before Donald Trump’s inauguration next month.  Trump has about $300 million in outstanding debts to Deutsche Bank, and it’s not clear whether his administration would have pursued a settlement. 

Meanwhile, the U.S. Justice Department filed suit against British bank Barclays and two of its former executives, charging they misled the public over the sale of tens of billions of dollars in mortgage-backed securities. 

Edited by Pavel Jacomino
Commentaries
MAKE A COMMENT
  • Cuban president rejects U.S. interference
  • Cuban scholar: the Trump administration will fail because they do not understand Cuba's reality
  • RHC's Caribbean Outlook Show
  • RHC's Arts Roundup
  • In Brazil, weapons may be freely used
  • Cuba warns Title III of Helms-Burton would violate international law and trade norms
NUMBER OF HITS/VISITORS

5552362

  • Max: 19729
  • yesterday: 3346
  • today: 1246
  • online: 84
  • total: 5552362