Hitting the headlines today.
The Securities and Exchange Commission has charged Wachovia Bank N.A. with fraudulently engaging in secret arrangements with bidding agents to improperly win business from municipalities and guarantee itself profits in the reinvestment of municipal bond proceeds.
US Federal Court, Alexandria, Virginia - 42-year-old former Wachovia bank manager Linda Tribby got a 7 year jail term last week, after pleading guilty to one count of bank fraud in March.
The Wall Street Journal reports that a report soon to be released by the US Senate Permanent Subcommittee on Investigations on the conduct of investment banks in the run-up to the financial crisis is expected to contain previously undisclosed emails which are thought likely to bring further unwelcome attention / embarrassment to the likes of Deutsche Bank and Goldman Sachs.