Germany's state-owned KfW bank has fired two of its directors, two weeks after the bank transfered hundreds of millions of euros to a bankrupt US bank.
Economics Minister Michael Glos and his deputy Finance Minister Peer Steinbrück, who head the KfW advisory board, announced the decision after a meeting late on Sunday night in Berlin. They said Peter Fleischer and Detlef Leinberger were responsible for failing to stop an automatic transfer of 300 million euros to Lehman Brothers, although the US investment bank had declared bankruptcy hours before.
(Deutsche Two KfW board members suspended over Lehman transfer ...
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