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The real reason DeutscheBank co-CEOs exit: Libor, forex scandals may trace back to them…

In my new book Open Secret, I write about how Deutsche co-CEO Anshu Jain took the bank on a roadshow for an equity raise. As far back as 2007, Jain was crowing about how much money the bank made trading Libor/interest rates. The bank had a vested interest — puns! — in manipulating the Libor rate, as did most of the other member banks that set the rate.

It’s easier for casinos to make money when they control the odds.

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