Spare the Rod and Spoil the Banker
NY Fed Slaps Down Deutsche Bank for Sloppy Bookkeeping
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  • vepxistqaosani

    If the Germans — the Germans! — can’t write a report to American standards, then there is probably something wrong with American standards. German DNA is fundamentally bureaucratic — any German should be able to out-report any American in his sleep.

    (Disclosure: An American, I worked for several years for a German firm.)

    • Andrew Allison

      Or, as several recent cases (not just foreign banks) have demonstrated, there’s a culture of obfuscation if not outright criminality. This will continue until the regulators do more that issue, “please stop doing this” wrist-slaps.

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