Lagarde Says Rapid Accord With DoJ Better for Deutsche Bank
- Lagarde says ‘bad settlement’ is better than a ‘good trial’
- DoJ requested $14 billion from Deutsche Bank in RMBS probe
Lagarde: Deutsche Bank Has to Look at Its Business Model
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International Monetary Fund Managing Director Christine Lagarde said the sooner Deutsche Bank AG reaches a settlement with the U.S. Department of Justice the better, calling an accord preferable to going to court.
“A bad settlement is always better than a good trial,” Lagarde told Bloomberg Television on Thursday. “We’re not in a trial mode clearly in the case of Deutsche Bank, but a settlement would certainly be welcome because it would deliver some certainty as to what weight the bank will have to carry and whether it matches with its provisions or not. So the sooner, the better.”