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A July 12, 2011 file photo shows the headquarters of Deutsche Bank reflected in a puddle in Frankfurt. The bank disputes U.S. allegations that its traders manipulated the energy market.
A July 12, 2011 file photo shows the headquarters of Deutsche Bank reflected in a puddle in Frankfurt. The bank disputes U.S. allegations that its traders manipulated the energy market.
(ALEX DOMANSKI/REUTERS)

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Deutsche Bank's gamblers versus the SEC

Deutsche Bank today is sound in wind and limb but according to three ex-employees it was distinctly wobbly at the height of the financial crisis when, they allege, the bank concealed some $12-billion in paper losses. A report in the Financial Times yesterday said these “whistleblowers” are telling their tale to the Securities and Exchange Commission which suggests that the alleged deception allowed the German lender to escape a government bailout.