The Bankers Who Devise the Indexes Decide Everything

The Bankers Who Devise the Indexes Decide Everything
On today’s episode of Double Down, hosts Max Keiser and Stacy Herbert are joined by Mitch Feierstein, author of Planet Ponzi, to discuss Deutsche Bank’s Italian job.

As a panel of judges in Italy rules that Deutsche Bank can be tried as an international criminal organisation for its role in collapsing the world’s oldest bank, Monte dei Paschi, Double Down talks to derivatives expert, Mitch Feierstein, author of Planet Ponzi, to discuss the problems with tying derivatives contracts to an index which bankers can manipulate. This appears to be the case prosecutors have presented in a Milan court room to argue that Deutsche Bank manipulated its proprietary index in order to trigger a derivatives contract they wrote to help hide Monte Paschi’s big debts from regulators. And, due to Italy’s strict anti-mafia regulations, will we actually see the first senior bankers from a major Western bank thrown in prison?

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