Deutsche Bank is Really Really Sorry, DOJ reduces Fine by 50%
DB wil pay 7.2 billion to the DOJ down from the $14 billion asked of what the DOJ asked initially. Their CEO is sorry.. he's very, very sorry.
“Our conduct in this matter, which occurred from 2005 to 2007, falls short of our standards and is unacceptable,” Deutsche Bank Chief Executive Officer John Cryan said. “We apologize unreservedly for it. We have subsequently exited many of the underlying activities and comprehensively improved our standards. As we enter 2017, we are pleased to have resolved this matter.”
Cryan was sorry that he fought tooth and nail to get the fine cut in half. Sorry DOJ, kids in Tijuana selling gum negotiate better. And don't tell us about the other give-ups you wrangled from DB.
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