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German Bank Accuses Barclays of Selling a CDO Designed To Fail

By Charles Michael on May 1, 2012
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The complaint, which appeared yesterday on ECF, is here.  We have blogged about this type of fact pattern (sometimes called the “Magnetar Trade”) before.  That the alleged victim is a German bank will come as no surprise to Michael Lewis, who wrote a Vanity Fair article last fall about how, during the financial crisis, Germans “used their own money to enable foreigners to behave insanely.” No judge has been assigned to the case yet.

Photo of Charles Michael Charles Michael

Charles Michael is an accomplished commercial litigator who resolutely defends clients in high stakes disputes and arbitrations. He is also experienced in regulatory and criminal investigations, and represents clients under investigation by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority…

Charles Michael is an accomplished commercial litigator who resolutely defends clients in high stakes disputes and arbitrations. He is also experienced in regulatory and criminal investigations, and represents clients under investigation by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Commodity Futures Trading Commission (CFTC), and the Department of Justice (DOJ).

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  • Posted in:
    Banking, Finance and Securities
  • Blog:
    SDNY Blog
  • Organization:
    Steptoe LLP
  • Article: View Original Source

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