The German bank that was at the center of the LIBOR scandal is likely to face upwards of $5 billion in a settlement with the Justice Department, says economist Bill Black.
NOOR: Before we get to
the broader implications of a possible collapse of the Deutsche Bank,
let's take a quick look at how we got here. Wasn’t this bank, too big to
fail, as we were discussing before the interview started? BLACK:
Well that’s why Deutsche Bank is not going to collapse. It is too big
to fail, both politically and economically. So while Prime Minister
Merkel has denied that there would be any bailout. Anyone in the world
knows that Deutsche Bank would be bailed out, by the German government.
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Scott Baker is a Managing Editor & The Economics Editor at Opednews, and a blogger for Huffington Post, Daily Kos, and Global Economic Intersection.
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