Deutsche Bank under investigation for Libor manipulation

Barclays may have opened up this show, but there is an extremely high likelihood that many more global banks will be involved. When setting Libor rates, the top four and the bottom four would be dismissed and Deutsche Bank is only the second bank that we know of to be investigated. We're likely to see at least ten, if not closer to the full list of sixteen global banks involved in this $800 trillion market ripoff.

If bankers don't go to jail this time, forget about ever hoping for a reformed industry. We have a generation or more of corrupt-to-the-bone bankers who need to be removed from the system. Mitt Romney is doing a London fundraiser with a bunch of Barclays bankers though chances are high other bankers who we will know are under investigation will also surely be in the crowd.

The entire banking system is a stinking heap of corruption and it must be gutted.

German markets regulator BaFin is conducting a special probe of Deutsche Bank as part of a wider investigation into possible manipulation of the London Inter Bank Offered Rate (Libor), two people familiar with the matter said on Friday.

The German regulator declined to comment specifically on whether it was probing Deutsche Bank, but said it was in looking into suspected manipulation of Libor rates by banks.

"We are making use of our entire spectrum of regulatory instruments, so far as this is necessary,'' a spokesman said.

Deutsche Bank shares extended losses after the news and traded 5 percent lower in trading on Friday.