Behind the Deutsche Bank resignations

Anshu Jain and Jürgen Fitschen, co-CEOs of Deutsche Bank, to announce resignations as early as Sunday.

I believe the primary reason for this abrupt resignation –– two weeks after DB’s annual shareholder meeting –– will a multitude of investigations not publicly announced yet.

I hear through US federal government sources that there are at least two more probes –– similar to Libor rigging –– that will come out in the next few weeks.

One probe deals with rigging of US treasury bond sales, which DB is one of the largest foreign primary broker.

The second investigation will be collusion in metals pricing, which will hit DB and JPMorgan the hardest.

Also perhaps someone looked at the DB books and spotted a larger than announced exposure to Greek debt, but that is speculation on my part.

It should be interesting times in the near future.

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