The Bankers Trust Tapes

It's Nov. 2, 1993, and two employees of Bankers Trust Co. are discussing a leveraged derivative deal the bank had recently sold to Procter & Gamble Co. "They would never know. They would never be able to know how much money was taken out of that," says one employee, referring to the huge profits the bank stood to make on the transaction. "Never, no way, no way," replies her colleague. "That's the beauty of Bankers Trust."

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