Social Studies, 10.03.2020 07:25 dlr1628
In Wall Street investment banks, each trader is allowed to make his own decisions within his risk limits, and he can make the opposite bet of another part of the firm. Greg Lippmann, a mortgage trader at Deutsche Bank, made big bets on a housing bust before 2008. Other parts of Deutsche Bank lost billions when the the mortgage bonds defaulted, but Lippmann got rich. Deutsche Bank does not believe in among traders.
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In Wall Street investment banks, each trader is allowed to make his own decisions within his risk li...
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