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‘Stupidest’ German bankers suspended

Posted by Mai on September 19th, 2008

The Manila Times Internet Edition

‘Stupidest’ German bankers suspended

BERLIN: Three executives dubbed “Germany’s stupidest bankers” in the press have been suspended from state bank KfW over erroneous transfers of more than 500 million euros ($710 million) to the bankrupt Lehman Brothers.

Two board members and a top risk control manager were suspended “pending final clarification of the incident” following a meeting of KfW’s supervisory board meeting attended by top ministers including Finance Minister Peer Steinbrueck, the bank said in a statement late Thursday.

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The Manila Times Internet Edition

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