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So Deutsche ‘s Risk Management was Fraud: Tell us something we did not know

December 7, 2012

If any reader of this blog and the book Stories in Credit Analysis was surprised to hear that Deutsche Bank hid $12 billion of losses by misvaluing Level 3 Assets, please e-mail me so that I can personally come and spank you, no matter which continent you are located.

We had said the same in a blog written almost two years ago Deutsche Bank Creditor Concerns.

https://crediteye.wordpress.com/2011/03/29/deutsche-bank-creditor-concerns/

Now we could hypothesise the Deutsche was fudging merely by looking at published accounts.  Imagine what more could have been unearthed from access to non public information!  That is why, rating agencies simply have no excuse for their utter and total incompetence.  Or doing stupid things like S&P did the other day when it declared Greece was in selective default!

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From → Credit Analysis

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