- Deutsche Bank is settling a suit by the U.S. Attorney’s office in Manhattan alleging that the company provided tax shelters for wealthy Americans. The alleged windfall for clients: $29 billion. The settlement payment: $553 million, and an admission of wrongdoing. Hey, those admissions of wrongdoing don’t come cheap. [NYT]
- Former Hewlett-Packard CEO Mark Hurd is interested in keeping a letter accusing him of sexual harassment under seal. [WSJ]
- Banks basically set the agenda for how Basel III capital requirements would be implemented, and they did so at terms that are favorable to banks and not necessarily favorable to regulators who are interested in preventing another global financial crisis. This is not so much news as something that bears repeating every now and then. [Bloomberg]
- European catastrophe Greece is once again clogged with protestors as the government triest to pass austerity measures that were a condition of a bailout by Eurozone members and the International Monetary Fund. [AFP]
- You know who doesn’t care about Al Qaida? Most Yemenis, because they are too busy caring about starving to death. [AP]
mtaylor [at] observer.com | @mbrookstaylor
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