Bankers Learn What Happens in Vegas Can Land Back in D.C.
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When Deutsche Bank AG foreclosed on a Las Vegas parcel in the depths of the 2008 crisis, it decided to double down. The bank spent $4 billion on a hotel and casino with private terraces, high-end restaurants and a multi-level nightclub to create one of the Strip’s hottest destinations.
One detail the bank didn’t account for when it opened the Cosmopolitan of Las Vegas: a labor dispute that has reached from Nevada into the bank’s dealings with the Federal Reserve in Washington.