‘I’m on My Knees’: Deutsche Traders Begged for Help

April 23, 2015 5:29 PM

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Deutsche Bank AG’s manipulation of Libor spanned eight years in offices around the world, involving at least 29 employees who rigged the price of money for millions of borrowers in an effort to make a quick profit.

“Could we pls have a low 6mth fix today old bean?” one Deutsche Bank derivatives trader in London asked an employee responsible for the bank’s rate submissions in April 2005. His U.S. counterparts were more blunt: “Strap on a pair and jack up the 3M,” one told a rate-setter in August 2008.

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