While corporate watchdogs hailed the record $2.5 billion settlement paid by Deutsche Bank to U.S. and U.K. authorities for its rate-rigging role in the massive LIBOR scandal, some noted that the fine—while large—suggests that some institutions are still considered "too big to jail."
Authorities announced Thursday that Germany's biggest bank would pay $2.5 billion in penalties, a record for cases involving interest rate fraud, which have already targeted banking behemoths like Barclays and UBS. Officials said the wrongdoing at Deutsche Bank lasted from 2005 to 2011 and touched employees in London, Frankfurt, New York, and Tokyo.
The New York Times reports that Deutsche Bank "also agreed to accept a criminal guilty plea for the British subsidiary at the center of the case. It is the most significant banking unit to accept a criminal plea in the long-running investigation into the manipulation of the
