The news is real. The blowback is debatable. It's unlikely to see this take down Deutsche Bank when a 75 trillion dollar derivative exposure wasn't able to last year. They're also now being sued by the FED of all things.
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The Fed is trying to save its ass. So suing your underlings is a feasible plan of action.
Well that's the whole point. Of course the FED is trying to save its ass. Nothing the Fed does is anything but nefarious.