Deutsche Bank expelled from Casino business after Libor scandal
August, 12th 2015
The Libor scandal around the Deutsche Bank was a highly discussed topic in the recent past. This scandal arose when it was discovered that banks were falsely inflating or deflating their rates so as to profit from trades, or to give the impression that they were more creditworthy than they were. And although this discussion about the benchmark interest has come to an end, it is still affecting businesses of the Deutsche Bank.
This manipulative scandal threw a shadow on the Deutsche Bank. At the moment, it seems like it will have devastating effects on the Deutsche Bank. Companies are planning on banishing the Deutsche Bank from casino business. In their opinion, the Deutsche Bank is not appropriate in the casino business.
This assumption was made due to a recent case in the United States. This case deals with the investment of a casino chain in the United States. The involved union has announced publicly that they do not want the Deutsche Bank to be involved. They are doubting the suitability of the Deutsche Bank in the casino business.
This will possibly have negative effects on the Deutsche Bank and their credibility. They are being chased away from the casino businesses. It remains to be seen if this scandal will continue to suffer under these circumstances.