Deutsche Bank may have avoided a bailout by the German government but borrowed billions from the US Federal Reserve and various programs during this period. So much for avoiding a bailout by pretending there was no risk of catastrophic losses during the financial crisis.
Arthur Levitt Jr. wrote a recent Op-Ed piece for the New York Times defending “high frequency trading.” As you can see, the conflicts for Mr. Levitt, especially now that he is also advising Goldman Sachs (also a PwC client) and Getco, are numerous.
Mr. Levitt is 78 years old. Isn’t it time for him (and Paul Volcker) to go fishing? Why don’t the numerous media outlets he works/writes for insist that he disclose his conflicts?
