Three executives dubbed "Germany's stupidest bankers", should be w@nkers, in the press have been suspended from state bank KfW over erroneous transfers of more than 500 million euros (710 million dollars) to the bankrupt Lehman Brothers, the KfW said.

Two board members and a top risk control manager were suspended "pending final clarification of the incident" following a meeting of KfW's supervisory board meeting attended by top ministers including Finance Minister Peer Steinbrueck, the bank said in a statement late Thursday.

A law firm has also been hired to see if further "consequences" are appropriate and the bank, already under fire over its rescue of IKB -- Germany's biggest casualty of the subprime crisis -- will subject its business procedures, especially those of risk management, to an "in-depth audit."

read the rest at Dial M For Moron.com


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