Time To Panic About Deutsche Bank & Credit Suisse! - Probably The Next Lehman

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Offline Letsbereal

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US Set To Alienate Angry Germany Next, As Crackdown Shifts From BNP To Commerzbank, Deutsche Bank
8 July 2014
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2014-07-08/us-set-alienate-angry-germany-next-crackdown-shifts-bnp-commerzbank-deutsche-bank

As we reported over the weekend in "By "Punishing" France, The US Just Accelerated The Demise Of The Dollar", following the record $9 billion fine against French BNP, the outcry has been fast and furious, with virtually everyone in the local chain of command, from the CEO of Total to the head of the Bank of France (and ECB member) Christian Noyer, all saying that the US is now clearly abusing the reserve power of the dollar and it is time to move away from a dollar-based reserve currency (how that jives with concurrent French demands for a lower EUR is a different, incomprehensible matter entirely).

It appears that having pushed France forcefully into the Russia-China Eurasian, and anti-US camp, the US will now do the same with Germany.

Because after infuriating the German population by first refusing to return their gold contained (the legend goes) at the New York Fed, and then with scandal after spying scandal, most recently involving the CIA directly soliciting a German double agent, now the time has come to "punish" Germany's largest banks for the same kind of money laundering that BNP was engaged in.

As the NYT and Reuters report, the time has come to shift away from the BNP scandal and focus on what will soon be the Commerzbank and Deutsche Bank fallout.

According to the NYT, the money laundering crackdown is "bound for another European financial center: Germany.

State and federal authorities have begun settlement talks with Commerzbank, Germany’s second-largest lender, over the bank’s dealings with Iran and other countries blacklisted by the United States, according to people briefed on the matter.

The bank, which is suspected of transferring money through its American operations on behalf of companies in Iran and Sudan, could strike a settlement deal with the state and federal authorities as soon as this summer, said the people briefed on the matter, who were not authorized to speak publicly.

The contours of a settlement, which the authorities have only begun to sketch out, are expected to include at least $500 million in penalties for Commerzbank, the people added.

Although prosecutors were still weighing punishments, the people briefed on the matter said that the bank would most likely face a so-called deferred prosecution agreement, which would suspend criminal charges in exchange for the financial penalty and other concessions.


It's not just Commerzbank - a settlement with the smaller bank will merely pave the way for the punishment of the biggest bank of all (in terms of groiss derivative notional held): Deutsche Bank.

A potential deal with Commerzbank — which is expected to pave the way for a separate settlement with Deutsche Bank, Germany’s largest bank — would pale in comparison to the case announced last week against France’s biggest bank, BNP Paribas.

The French bank agreed to pay a record $8.9 billion penalty and plead guilty to criminal charges for processing transactions on behalf of Sudan and other countries that America has hit with sanctions, a rare criminal action against a financial giant.


As NYT adds, correctly, "The Commerzbank investigation features an added twist: The bank is 17% owned by the German government.

It is unclear whether — as in the BNP case, which led French authorities to intervene on the bank’s behalf — the settlement talks could inflame diplomatic tensions between Washington and Berlin."

Of course, since this is the ridiculous "scorched earth" diplomatic policy, if one may call it that, of the Obama administration, nobody is surprised any more that the US president is alienating one former ally after another.

As we first observed a few weeks ago when we revealed JPM's involvement in all of this money laundering, "some critics have questioned why American authorities have set their eye on European banks.

The answer, authorities say, is that American banks by and large avoided processing transactions for Iran and Sudan.

But American banks are not immune from touching dirty money.

Citigroup’s Banamex unit is under investigation for processing money linked to a drug cartel.

And in January, JPMorgan Chase reached a roughly $2 billion deal with the authorities over ignoring signs of the Ponzi scheme orchestrated by Bernard L. Madoff, who held accounts at the bank for over two decades."

Not only that but as we wrote over the weekend, the bank that was instrumental in facilitating BNP's money laundering for nearly a decade was none other than JPM. One wonders if JPM also "unwittingly" was the bank that made German money laundering around the globe possible. Did we mention unwittingly?

JPMorgan Said to Have Unwittingly Helped BNP’s Transfers
4 July 2014
, by Tom Schoenberg and Greg Farrell (Bloomberg)
http://www.bloomberg.com/news/print/2014-07-03/jpmorgan-said-to-have-unwittingly-helped-bnp-s-transfers.html

Still, while one can debate the idiocy of US foreign policy, eager to push European allies into the willing hands of Russia and China at the worst possible moment, when regional and civil wars and conflicts are suddenly breaking out across all key geopolitical hotspots, one wonders: in the case of BNP, the "fine" was as a result of French unwillingness to halt the Russian amphibious warship deal despite US demands.

So it would be curious just what the US blackmail against German banks is for: one really does wonder just what punishment Angela Merkel deserves behind the scenes in the eyes of John Kerry et clueless al, to punish her and Germany so blatantly for the entire world to see.

One thing is clear: if the US thinks that Germany will continue to consider America its BFF and make zero contingency plans for when the alliance with the US finally crashes and burns, it will be truly surprised when the Eurasian alliance of Russia and China finally announces its final, all-important, missing link member: the manufacturing and export powerhouse that is Germany itself.
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Offline Letsbereal

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US regulators begin settlement talks with Commerzbank, Deutsche Bank -source
8 July 2014
, (Reuters)
http://uk.reuters.com/article/2014/07/08/commerzbank-investigation-usa-idUKL4N0PJ0UR20140708

U.S. state and federal authorities have begun settlement talks with Germany's Commerzbank AG and Deutsche Bank over their dealings with countries blacklisted by the United States, a source with direct knowledge of the regulatory investigations said.

The settlement talks have just begun and the timing of the deal is unclear at this time, the person told Reuters.

Deutsche Bank and Commerzbank declined to comment.

The New York Times first reported that the settlement talks with Commerzbank were on and a deal could be struck as soon as this summer. (nyti.ms/1xJyjeA)

Commerzbank, accused by U.S. authorities of transferring money through its U.S. operations on behalf of companies in Iran and Sudan, could pay at least $500 million in penalties, the New York Times reported.

The No.2 German lender would likely face a so-called deferred prosecution agreement that would suspend criminal charges in exchange for the financial penalty and other concessions, the report said.

A potential deal with Commerzbank, which is expected to pave the way for a separate settlement with Deutsche Bank, would pale in comparison to the deal with France's BNP Paribas SA , the NYT said.

Last week, French bank BNP Paribas pleaded guilty to two criminal charges and agreed to pay almost $9 billion to resolve accusations it violated U.S. sanctions against Sudan, Cuba and Iran, a severe punishment aimed at sending a clear message to other financial institutions around the world.

Commerzbank had €934 million ($1.27 billion) at the end of 2013 as provision for litigation risks, including a possible U.S. probe into whether the bank breached sanctions.

Reuters reported last week that Deutsche Bank, Banamex USA, the U.S. arm of Citigroup Inc's Mexican banking group Banamex, and two major French banks - Credit Agricole and Societe Generale, are among those being investigated for possible money laundering or sanctions violations.

However, talks with the two French banks were not on the front burner, the source told Reuters on Monday.

Reuters could not immediately reach the authorities conducting the investigations - U.S. Department of Justice, New York State's banking regulator and the Manhattan district attorney's office.

Numerous other banks, including Standard Chartered, Lloyds Banking Group and Credit Suisse Group have previously settled with U.S. authorities over allegations they violated sanctions.

($1 = 0.7345 Euros)


Very hypocritical because:

US company signs billion-dollar energy deal with Iran
6 July 2014
, (RT)
http://rt.com/news/170768-iran-energy-deal-usa/

I think all these headlines can be placed under the umbrella of; U.S. pissed off the French/The Financial War:

- French stock market watchdog frustrates acquisition by GE, Alstom (google trans from Dutch) http://tinyurl.com/kfh4tn6

- Total CEO calls for bigger euro role in oil payments http://www.reuters.com/article/2014/07/05/idUSL6N0PG0E720140705

- France’s Noyer Says BNP May Prompt Shift Away From Dollar http://www.bloomberg.com/news/print/2014-06-11/ecb-s-noyer-says-bnp-may-prompt-shift-away-from-dollar.html
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Offline Letsbereal

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Barclays, Deutsche Facing U.S. Senate Hearing
« Reply #42 on: July 16, 2014, 09:07:21 PM »
Barclays, Deutsche Facing U.S. Senate Hearing
16 July 2014
, by Zachary R. Mider (Bloomberg)
http://www.bloomberg.com/news/print/2014-07-16/barclays-deutsche-bank-said-to-face-u-s-senate-hearing.html

Excerpt:

Barclays Plc (BARC) and Deutsche Bank AG (DBK) face scrutiny over their sale of products to a hedge-fund manager that allowed it to skirt borrowing limits and avoid taxes, according to people with knowledge of the matter.

The U.S. Senate Permanent Subcommittee on Investigations plans a hearing next week on what it calls abusive transactions by financial institutions, according to a July 14 notice from the panel.

The companies, which aren’t named in the notice, are Barclays, Deutsche Bank and hedge-fund manager Renaissance Technologies LLC, the people said.

Representatives for each of the companies plan to testify at the July 22 hearing, the people said.

The investigation is another blow for Antony Jenkins, chief executive officer of London-based Barclays, as he seeks to restore the firm’s reputation after it became the first lender to be fined for rigging Libor.

For Deutsche Bank, the hearing comes less than four years after the Frankfurt-based lender paid $554 million to avoid unrelated U.S. criminal charges involving the sale of tax shelters.

Kerrie Cohen, a spokeswoman for Barclays, declined to comment, as did Renee Calabro of Deutsche Bank; Jonathan Gasthalter, who represents Renaissance; and Gordon Trowbridge, a Senate subcommittee spokesman.

The people with knowledge of the matter spoke on condition of anonymity because they weren’t supposed to reveal information before the hearing.
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Offline Letsbereal

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ECB Opaque-Asset Review Seen Targeting Deutsche Bank, BNP
« Reply #43 on: July 28, 2014, 05:26:35 PM »
ECB Opaque-Asset Review Seen Targeting Deutsche Bank, BNP
27 July 2014
, by Nicholas Comfort (Bloomberg)
http://www.bloomberg.com/news/print/2014-07-27/ecb-opaque-asset-review-seen-targeting-deutsche-bank-bnp.html

Excerpt:

Deutsche Bank AG and BNP Paribas SA, which hold almost half of the hard-to-value assets on the books of the euro area’s 10 biggest banks, are facing a reality check that could impose losses.

As part of its review of 128 lenders, the European Central Bank is studying less-actively traded loans and securitized products that banks value with minimal external data.

The unprecedented scope of the exercise gives the ECB, which is taking on a supervisory role this year, insight that has eluded investors: comparing how the biggest investment banks value complex assets.

The findings, to be released in October, could require Deutsche Bank, BNP Paribas and other firms to restate the value of assets, driving down equity and slowing efforts to boost capital levels to meet demands set by regulators, according to Martin Hellmich, a professor of risk management and regulation at the Frankfurt School of Finance & Management.

ECB President Mario Draghi, seeking to show the assessment will be credible, has said some lenders need to fail its stress test.

“Banks with a lot of level-three assets that still have a viable business model and funds to spare make for good candidates for the ECB to discipline,” Hellmich said.

“That’s a political approach, but it makes sense.”
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Offline Letsbereal

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Moody's downgrades Deutsche Bank on ‘Modest’ Profits
« Reply #44 on: July 29, 2014, 09:57:32 PM »
Deutsche Bank Ratings Cut at Moody’s on ‘Modest’ Profits
29 July 2014
, by Nicholas Comfort (Bloomberg)
http://www.bloomberg.com/news/print/2014-07-29/deutsche-bank-ratings-cut-at-moody-s-on-modest-profits.html

Deutsche Bank, Europe’s biggest investment bank, had its debt ratings cut by Moody’s Investors Service, which cited the drag that legal and restructuring costs will have on profit this year and next.

Moody’s lowered Deutsche Bank’s long-term debt and deposit ratings one level to A3 from A2, the ratings company said in a statement today.

Moody’s also cut the company’s subordinated debt and junior subordinated debt ratings as well as those of most of its capital instruments, according to the statement.

Deutsche Bank’s efforts to build equity have been slowed by legal bills related to industrywide investigations of alleged past misconduct as well as costs to fire staff and merge units.

The Frankfurt-based company sold €8.5 billion ($11.4 billion) of shares in May and June to provide a buffer against regulatory capital requirements and invest in winning market share in fixed-income trading.

“We are expecting modest earnings and a heavy reliance on capital markets revenues at Deutsche Bank for the foreseeable future and this drove the downgrade, despite the recent capital raise,” Peter Nerby, a Moody’s analyst in New York, said in the statement.

Deutsche Bank’s profit before tax climbed 16% to €917 million in the second quarter from a year earlier, led by its investment-banking and trading unit, the company said today.

A 49% increase in tax payments led to a drop in net income, which fell 29% to €237 million.

Deutsche Bank shares slipped 0.1% to €26.66 by 3:52 p.m. in Frankfurt trading.

The bank’s litigation costs fell to €470 million in the second quarter from €630 million a year earlier, Deutsche Bank said.

Moody’s cut the bank’s short-term ratings to Prime-2 from Prime-1 and its standalone bank financial strength rating to D+ from C-, according to the statement.

While the outlook on that rating is stable, that on Deutsche Bank’s supported ratings is negative, reflecting the fact that European banks are less likely to receive state aid if they require it, Moody’s said.
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Offline Letsbereal

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Lawsky Said to Seek Forex Monitors at Deutsche, Barclays
« Reply #45 on: July 29, 2014, 10:32:27 PM »
Lawsky Said to Seek Forex Monitors at Deutsche, Barclays
29 July 2014,
by Greg Farrell (Bloomberg)
http://www.bloomberg.com/news/print/2014-07-29/lawsky-said-to-seek-forex-monitors-at-deutsche-barclays.html

New York’s banking regulator is pressing to put monitors in place at Deutsche Bank AG (DBK) and Barclays Plc (BARC) as part of an investigation into whether traders manipulated benchmark currency rates, a person briefed on the matter said.

Benjamin Lawsky, superintendent of New York’s Department of Financial Services, contacted lawyers for the banks about his plan following an initial review of the possible manipulation, said the person, who asked not to be named because the investigation isn’t public.

Regulators and prosecutors in Europe, the U.K. and U.S. are investigating allegations that dealers at the world’s biggest banks traded ahead of their clients and colluded to rig the WM/Reuters rate, a benchmark that pension funds and money managers use to determine what they pay for foreign currencies.

More than 25 traders have been fired, suspended or put on leave after the allegations emerged last year.

Lawsky’s office has asked for documents and electronic communications related to currency trading practices at more than a dozen banks, including Goldman Sachs, Lloyds, Royal Bank of Scotland and Credit Suisse, the person has said.

Mark Lane, a spokesman for Barclays in New York, declined to comment, as did Ronald Klug, a spokesman for Lawsky’s office.

Renee Calabro, a spokeswoman for Deutsche Bank, declined to comment beyond previous statements by the bank that it was cooperating with the investigations.

Lawsky’s plan to install monitors was reported earlier by the Wall Street Journal.
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Offline Letsbereal

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Lehman's Curse Spurs Deutsche to Pitch New Central Bank Targets
« Reply #46 on: November 14, 2014, 05:36:01 AM »
Lehman's Curse Spurs Deutsche to Pitch New Central Bank Targets
13 November 2014
, by Simon Kennedy (Bloomberg)
http://www.bloomberg.com/news/print/2014-11-14/lehman-s-curse-spurs-deutsche-to-pitch-new-central-bank-targets.html

Excerpt:

More than six years since the collapse of Lehman Brothers Holdings Inc., the aftershocks are still reverberating.

Take, as Deutsche Securities Inc.’s Mikihiro Matsuoka has done, a list of eight economic measures and see how many nations have returned to their pre-crisis levels.

The answer for most is sobering. The U.S. comes out top among major developed economies, having clawed back all the ground it lost in industrial production, employment, private-sector lending and gross domestic product -- both when inflation is accounted for, and when it’s not.

The U.S. is still to revisit its peaks of core inflation and money supply growth, or to reach the low for unemployment.

The U.K. has hit three of the eight gauges, while the euro-area only has managed to build back its level of nominal GDP, with Greece, Italy, Spain and Portugal not even doing that.

“The Lehman crisis marked a regime change in the global economy,” says Tokyo-based Matsuoka.

As Deutsche Bank’s chief economist for Japan, Matsuoka focuses on how the world’s third-largest economy has fared.

While Japan scores for unemployment, lending and core inflation, Matsuoka discounts the labor-market gains because of the rising role of part-time workers.
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Offline Letsbereal

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Deutsche Bank Scales Back Trading in Credit Derivatives
« Reply #47 on: November 18, 2014, 09:48:14 PM »
Deutsche Bank Scales Back Trading in Credit Derivatives
17 November 2014
, by Stephanie Ruhle and Sridhar Natarajan (Bloomberg)
http://www.bloomberg.com/news/print/2014-11-17/deutsche-bank-exits-most-single-name-credit-default-swap-trading.html

Excerpt:

Deutsche Bank AG will stop trading most credit-default swaps tied to individual companies, exiting a business that new banking regulations have made costlier, according to a spokeswoman.

The lender will instead focus on transactions in corporate bonds, while maintaining trading in the more active market for credit swaps tied to benchmark indexes, Michele Allison, a spokeswoman for the Frankfurt-based bank, said today.

The firm also will continue trading swaps tied to emerging-market borrowers and distressed companies, she said.

The derivatives are used by hedge funds, banks and other institutional investors to protect against losses or to speculate on the ability of companies to repay their obligations.

Deutsche Bank is exiting a part of the market that shrank to less than $11 trillion from $32 trillion before the financial crisis, data from the Bank for International Settlements show.

Dealing in credit swaps, which have been blamed for exacerbating the 2008 financial crisis, has become more expensive for lenders like Deutsche Bank as regulators across the U.S. and Europe require banks to hold more capital to back trades, reducing the returns for shareholders.

“When liquidity providers leave the market, it becomes really questionable if the market is functioning efficiently,” Jochen Felsenheimer, the Munich-based founder of XAIA Investment GmbH, said in a telephone interview.

“Regulators continue to dry out the CDS market by putting more and more constraints.”
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Offline Letsbereal

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S&P Downgrades Numerous European Banks, Warns Deutsche Bank May Be Next
« Reply #48 on: February 03, 2015, 04:00:07 PM »
S&P Downgrades Numerous European Banks, Warns Deutsche Bank May Be Next
3 February 2015
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2015-02-03/sp-downgrades-numerous-european-banks-warns-deutsche-bank-may-be-next

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Offline Letsbereal

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Deutsche Post Sees Subdued Profit Growth on Weak Economy
« Reply #49 on: March 11, 2015, 09:56:41 AM »
Deutsche Post Sees Subdued Profit Growth on Weak Economy
11 March 2015
, by Richard Weiss (Bloomberg)
http://www.bloomberg.com/news/articles/2015-03-11/deutsche-post-sees-subdued-profit-growth-on-weak-economy

Deutsche Post AG said operating profit growth this year may be less than 3% as global expansion provides little tailwind for Europe’s largest postal service.
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Offline Letsbereal

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Deutsche Bank Said to Weigh Shrinking Investment Bank by a Fifth
« Reply #50 on: March 24, 2015, 09:28:31 AM »
Deutsche Bank Said to Weigh Shrinking Securities Unit
23 March 2015
, by Nicholas Comfort (Bloomberg)
http://www.bloomberg.com/news/articles/2015-03-23/deutsche-bank-said-to-shrink-investment-bank-in-strategy-revamp

Excerpt:

Deutsche Bank AG, which runs Europe’s biggest investment bank, is looking at shrinking its trading businesses as it reviews three options to boost the firm’s profitability, according to a person familiar with the matter.

To help lift returns, the bank is considering paring its interest-rate trading business and the prime finance activities that cater to hedge funds, said the person, who asked not to be identified speaking about private discussions.

One option would shrink the investment bank by almost a fifth, the person said.

Deutsche Bank co-Chief Executive Officers Anshu Jain, 52, and Juergen Fitschen, 66, have sought to keep a full-fledged investment bank and consumer-lending unit since 2012, even though higher capital requirements hurt profitability and weighed on the stock price.

Meanwhile thousands of job cuts by European competitors Barclays and UBS were welcomed by shareholders, boosting those banks’ stock prices.

Deutsche Bank’s managers “know where they’re not making enough money,” Alevizos Alevizakos, an analyst at Keefe, Bruyette & Woods Inc. in London, who predicts the shares will underperform, said by phone on Monday.

“The rates and prime finance businesses are negative for the capital ratios and they don’t make us much money as they used to.”
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Offline Letsbereal

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Deutsche Bank profit halves on litigation costs
« Reply #51 on: April 27, 2015, 12:30:03 PM »
Deutsche Bank profit halves on litigation costs
27 April 2015
, by Eyk Henning - Frankfurt (MarketWatch)

Deutsche Bank AG on Sunday said its first-quarter net profit fell around 50% as strong revenue growth was outweighed by a record penalty to settle with authorities over rate-rigging allegations earlier this week.
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Offline Letsbereal

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S&P cuts ratings on European banks
« Reply #52 on: June 10, 2015, 08:50:31 AM »
S&P cuts ratings on European banks
9 June 2015
, by Tess Stynes (MarketWatch)
http://www.marketwatch.com/story/sp-cuts-ratings-on-european-banks-2015-06-09-13103247

Standard & Poor’s Ratings Services cuts its credit ratings on a number of European banks on Tuesday.

The firm lowered its ratings on Deutsche Bank Royal Bank of Scotland and Commerzbank to triple-B-plus, three notches above junk territory.

For RBS and Commerzbank, that marked a one-notch downgrade, but it was two for Deutsche Bank.

Barclays, meanwhile, also got a one-notch downgrade to A-minus, putting it a level above the other banks.

The credit rater also removed its ratings on several other banks from its watch list.
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Offline Letsbereal

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Is Deutsche Bank the next Lehman?
« Reply #53 on: June 11, 2015, 04:34:40 PM »
Is Deutsche Bank the next Lehman?
11 June 2015
, (Not Quant)
http://notquant.com/is-deutsche-bank-the-next-lehman/

Looking back at the Lehman Brothers collapse of 2008, it’s amazing how quickly it all happened.  In hindsight there were a few early-warning signs,  but the true scale of the disaster publicly unfolded only in the final moments before it became apparent that Lehman was doomed.
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Offline Letsbereal

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Germany blasts Deutsche Bank executives over culture
« Reply #54 on: July 17, 2015, 09:33:24 AM »
Germany blasts Deutsche Bank executives over culture
17 July 2015
, by David Enrich, Jenny Strasburg & Eyk Henning (MarketWatch)
http://www.marketwatch.com/story/germany-blasts-deutsche-bank-executives-over-culture-2015-07-17

German regulators accused a half-dozen current Deutsche Bank executives of failing to stop or tell regulators about years of attempted market manipulation, according to a confidential report reviewed by The Wall Street Journal that portrays the German bank as suffering from a badly broken corporate culture.
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Offline Letsbereal

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Deutsche Post cuts outlook; profit down
« Reply #55 on: August 07, 2015, 12:13:13 AM »
Deutsche Post cuts outlook; profit down on strikes
6 August 2015
, by Sarah Sloat - Frankfurt (MarketWatch)
http://www.marketwatch.com/story/deutsche-post-cuts-outlook-profit-down-on-strikes-2015-08-06

Deutsche Post AG on Wednesday cut its earnings outlook for 2015 after second-quarter net profit fell more than expected due to strike-related costs and restructuring.
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Offline Letsbereal

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Deutsche Bank Sums It Up “The Fragility Of This Artificially Manipulated Financial System Was Finally Exposed
24 August 2015
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2015-08-24/deutsche-bank-sums-it-fragility-artificially-manipulated-financial-system-was-finall
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Offline Letsbereal

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Deutsche Bank To Fire 25% Of All Workers
« Reply #57 on: September 14, 2015, 11:02:34 AM »
Behold The European Recovery: Deutsche Bank To Fire 25% Of All Workers
14 September 2015
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2015-09-14/behold-european-recovery-deutsche-bank-fire-25-all-workers
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Offline Geniocrat

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Re: Deutsche Bank To Fire 25% Of All Workers
« Reply #58 on: September 14, 2015, 11:04:13 AM »
They should be exposing their Nefilim masters and hanging them.....

Offline Letsbereal

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Deutsche Bank Preannounces Massive Eur 6.2 Bln Loss, May Cut Dividend
« Reply #59 on: October 07, 2015, 05:07:50 PM »
The First Crack: Deutsche Bank Preannounces Massive Loss, May Cut Dividend
7 October 2015
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2015-10-07/first-crack-deutsche-bank-preannounces-massive-loss-may-cut-dividend


    *DEUTSCHE BANK SEES 3Q NET LOSS EUR 6.2 BLN

    *DEUTSCHE BANK TO RECOMMEND DIVIDEND CUT OR POSSIBLE ELIMINATION




Ihaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa!!!!!!!!!! https://youtu.be/JlSQAZEp3PA?t=28s
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Offline Letsbereal

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Re: Deutsche Bank Preannounces Massive Eur 6.2 Bln Loss, May Cut Dividend
« Reply #60 on: October 08, 2015, 09:51:52 AM »
Day After Deutsche Bank Admits Not All Is Well, Swiss Giant Credit Suisse Also Admits It Needs More Cash
8 October 2015
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2015-10-08/day-after-deutsche-bank-admits-not-all-well-swiss-giant-credit-suisse-also-admits-it
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Offline Letsbereal

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Deutsche Bahn plans thousands of job cuts in overhaul
« Reply #61 on: October 14, 2015, 06:41:01 PM »
Deutsche Bahn plans thousands of job cuts in overhaul: sources
8 October 2015
, Berlin (Reuters)
http://www.reuters.com/article/2015/10/08/us-deutschebahn-idUSKCN0S21RD20151008

German rail operator Deutsche Bahn has plans to introduce radical savings measures, including cutting thousands of jobs, especially in its freight business, sources familiar with the plans told Reuters on Thursday.

According to the plans about 5,000 jobs could go in the freight division alone.
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Offline Letsbereal

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Deutsche Bank Reports Massive Loss, Will Cut 35,000 Jobs
« Reply #62 on: October 29, 2015, 08:33:46 PM »
Deutsche Bank Reports Massive Loss, Will Cut 35,000 Jobs, Exit 10 Countries In Sweeping Overhaul
29 October 2015
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2015-10-29/deutsche-bank-reports-massive-loss-will-cut-35000-jobs-exit-10-countries-sweeping-ov
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Offline Letsbereal

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Deutsche Bank to cut workforce by 15,000
« Reply #63 on: October 30, 2015, 11:54:03 AM »
Deutsche Bank to cut workforce by 15,000
29 October 2015
, Frankfurt (Reuters)
http://www.reuters.com/article/2015/10/29/us-deutsche-bank-strategy-redundancies-idUSKCN0SN0UI20151029
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Offline Letsbereal

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Deutsche Bank to cut 35,000 jobs, scraps dividend
« Reply #64 on: November 03, 2015, 12:36:21 PM »
Deutsche Bank to cut 35,000 jobs, scraps dividend
29 October 2015
, by Jenny Strasburg (MarketWatch)
http://www.marketwatch.com/story/deutsche-bank-to-cut-35000-jobs-scraps-dividend-2015-10-29
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Offline Letsbereal

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Deutsche Post profit falls
« Reply #65 on: November 11, 2015, 07:07:10 PM »
Deutsche Post profit falls
11 November 2015
, by Friedrich Geiger - Frankfurt (MarketWatch)
http://www.marketwatch.com/story/deutsche-post-profit-falls-2015-11-11
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Offline Letsbereal

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Deutsche Bank launches 'robo adviser' for equities investors
« Reply #66 on: December 08, 2015, 09:27:51 AM »
Deutsche Bank launches 'robo adviser' for equities investors
7 December 2015
, Frankfurt (Reuters)
http://www.reuters.com/article/us-deutschebank-funds-idUSKBN0TQ1Z220151207
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Offline Letsbereal

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Ex-Deutsche Bank Trader Loses Wrongful Dismissal Suit in Moscow
« Reply #67 on: December 23, 2015, 02:33:14 PM »
Ex-Deutsche Bank Trader Loses Wrongful Dismissal Suit in Moscow
23 December 2015
, by Jake Rudnitsky (Bloomberg)
http://www.bloomberg.com/news/articles/2015-12-23/ex-deutsche-bank-trader-loses-wrongful-dismissal-suit-in-moscow
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Offline Letsbereal

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Time To Panic About Deutsche Bank!
« Reply #68 on: February 03, 2016, 08:49:22 PM »
Is It Time To Panic About Deutsche Bank?
3 February 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-02-03/it-time-panic-about-deutsche-bank



Game Over Man, GAME OVER! https://www.youtube.com/watch?v=dsx2vdn7gpY
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Offline windyacres

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Re: Time To Panic About Deutsche Bank!
« Reply #69 on: February 04, 2016, 01:27:43 AM »
Wow, that is a lot of trillions!
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Offline Letsbereal

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Re: Time To Panic About Deutsche Bank! - Probably The Next Lehman
« Reply #70 on: February 08, 2016, 05:34:23 PM »
After Crashing, Deutsche Bank Is Forced To Issue Statement Defending Its Liquidity http://www.zerohedge.com/news/2016-02-08/after-crashing-deutsche-bank-forced-issue-statement-defending-its-liquidity

Deutsche Bank Says It Has the Cash for Riskiest Debt Payouts http://www.bloomberg.com/news/articles/2016-02-08/deutsche-bank-says-it-has-at1-payment-capacity-of-1-1-billion

Deutsche Bank's Woes Threaten CoCo Coupons, CreditSights Says http://www.bloomberg.com/news/articles/2016-02-08/deutsche-bank-s-woes-threaten-coco-coupons-creditsights-says

How the Bank Debt That Everyone Is Talking About Works: Q&A http://www.bloomberg.com/news/articles/2016-02-09/how-the-bank-debt-that-everyone-is-talking-about-works-q-a

Deutsche Bank’s Assurance Exposes Tip of CoCo Iceberg: Analysis http://www.bloomberg.com/news/articles/2016-02-10/deutsche-bank-s-assurance-exposes-tip-of-coco-iceberg-analysis

Here's What You Need to Know About CoCo Bonds - FT https://www.youtube.com/watch?v=jR9ncJcD8jY

CoCo the Monkey https://www.youtube.com/watch?v=gXTlAJrgGEY

Europe Closes “On The Lows”: Deutsche Bank Plunges 11% To 7 Year Lows http://www.zerohedge.com/news/2016-02-08/europe-closes-lows-deutsche-bank-plunges-11-7-year-lows

Don’t Show Wolfgang Schaeuble This Chart http://www.zerohedge.com/news/2016-02-08/dont-show-wolfgang-schaeuble-chart

European Bank Bloodbath Crashes Bond, Stock Markets http://www.zerohedge.com/news/2016-02-08/european-bank-bloodbath-crashes-bond-stock-markets

A Wounded Deutsche Bank Lashes Out At Central Bankers: Stop Easing, You Are Crushing Us http://www.zerohedge.com/news/2016-02-06/wounded-deutsche-bank-lashes-out-central-bankers-stop-easing-you-are-crushing-us
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Offline windyacres

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Re: Time To Panic About Deutsche Bank! - Probably The Next Lehman
« Reply #72 on: February 09, 2016, 11:50:10 PM »
Sie sind gefickt.
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Offline windyacres

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Re: Time To Panic About Deutsche Bank! - Probably The Next Lehman
« Reply #73 on: February 10, 2016, 12:22:43 AM »
DEUTSCHEBANK ON THE VERGE OF TAKING DOWN
 THE ENTIRE GLOBAL MONETARY SYSTEM 


Author : Andrew Hoffman
Published: February 9th, 2016


How much clearer can I be that we are already amidst the “Big One” – with NO CHANCE of turning back? And that, barring a global PPT miracle in the next 24 hours, the answer to the question I posed on Saturday – i.e., “will Wednesday be the long-awaited Yellen Reversal?” – is decidedly YES! Not that she’ll join the ECB and BOJ at negative interest rates at tomorrow’s Humphrey-Hawkins Congressional testimony, of course. No, that will come shortly thereafter; perhaps, at an “emergency” session – in the coming months (or weeks), depending on how successful said PPT efforts are. As, per what I have shouted from the rooftops for the past three weeks, I do not believe there’s a chance the world survives 2016 without a catastrophic financial event. As if what’s occurred already isn’t catastrophic enough!


Frankly, I could have just as easily titled today’s article “Bank of Japan on the verge of taking down the entire global monetary system.” Or replaced Bank of Japan with ECB. Or, contrary to what the entire mainstream will conclude regarding the ramifications of a potential Fed rate cut, the Federal Reserve itself. As frankly, there aren’t words for the incredulity I’m experiencing watching the Bank of Japan and ECB not only dismally fail in their recent NIRP and QE pronouncements – but catalyzing the polar opposite effect of the “stability” they sought. Which is exactly what occurred when the PBOC attempted a “controlled” Yuan devaluation last summer – which I presciently forecast would be the “cataclysmic financial big bang to end all big bangs.” Not to mention, when the Fed attempted to promote “confidence” by raising rates – which I also knew would be a disaster, per September’s “only financial event as potentially cataclysmic as a significant Yuan devaluation.”


In Japan’s case, the Nikkei has been in freefall since the BOJ announced NIRP two weeks ago – with last night’s 5.4% plunge, led by the terrifyingly ominous implosion of Japan’s insolvent banking sector, making a mockery of yesterday’s afternoon’s blatant U.S. PPT “hail mary” rally. Which, I might add, still resulted in dramatic losses. Moreover, demonstrating how everything Central banks attempt now fail, the Yen has surged against the dollar; as has the Euro, as the “big three” currencies hopelessly fight the unwinnable “final currency war.” To that end, I maintain my staunch belief that the “Land of the Setting Sun” will be the first “first world” nation to experience 21st century hyperinflation; and that the “European Union” – and Euro currency as currently constituted – won’t last through the decade.


That said, Japan is but a pimple on the arse of Europe, in terms of the cataclysmic impact of its burgeoning political, economic, and social collapse. Heck, I could write an entire article on GREECE, based on the horrifying events occurring today alone. Which, as I predicted last summer, likely won’t make it through to the middle of this year without a catastrophic default of a significant portion of its €600 billion of debt; the large majority of which, is owed to Europe. To wit, the Greek stock market is down 12% in the past 24 hours alone; whilst its sovereign yields are exploding – ECB QE and all; with strikes and riots are taking place as we speak.


That sad, the credit default swap rates for Greece’s largest, soon-to-be-dead bank aren’t much higher than Deutschebank. I.e., Europe’s largest bank; the world’s largest derivatives purveyor; and the largest financial institution in the nation holding together the collapsing European Union via smoke and mirrors. Yes, the land of exploding migrancy crisis; Volkswagen “Diesel-Gate”; and an imploding political regime – in which 40% of the population is calling for Angela Merkel’s resignation; and the words revolution, anarchy, and crisis are becoming eerily commonplace.


Since the ECB engaged in NIRP two years ago – and QE last winter – things have gone from bad to worse in the Eurozone. As we speak, the entire continent is enveloped in the early stages of a financial crisis that will be MUCH worse than anything experienced in 1929, 1987, 2000, and 2008 combined. Bank stocks are down more than 25% this year alone; credit risk – via high yield bonds and credit default swaps – are in many cases already at 2008 financial crisis levels. In other words, “2008, Part II” has already started. And frankly, anyone who is NOT running to the exits right now, in my view, has a financial death wish. Or, for that matter, NOT protecting at least a portion of their hard-earned life’s savings with Precious Metals, at today’s historically Cartel-suppressed prices. Remember, during 2008, the world RAN OUT of gold and silver for roughly two months! Only this time, supply is much lower to start with; demand much higher; and the amount of printed money that will chase said scarce supply exponentially larger.


In Deutschebank’s case, its $165 billion of debt – compared to roughly $140 for Lehman before it collapsed – is dramatically understated due to its $50+ trillion of “gross notional derivatives exposure.” Let alone, its massive exposure to the PIIGS, France, and the rest of the collapsing European Union. Honestly, no one knows exactly how much Enron-like “off balance sheet” liabilities DB has. However, like Enron, Lehman, Fannie Mae, and all of the previous frauds before it, financial markets couldn’t be more “on to it.”

 In other words, just as was the case with early 2000s Ponzi schemes like Enron and Worldcom; and 2008’s Lehman, Fannie Mae, AIG, Bear Stearns, and others – Deutschebank’s stock, bonds, and credit default swaps are screaming imminent bankruptcy. In 2008, of course, it was screaming the same thing – but was deemed “too big to fail,” and promptly bailed out. This time around, no such salvation awaits – for Deutschebank, Alpha Bank, or hundreds, if not thousands of insolvent banks worldwide; as neither the will, nor the funds, to bail them out exists. Unless, of course, Central banks hyper-inflate; or governments “bail in”; in which, in either case, World War III will nearly certainly follow, plus civil wars, military coups, and other draconian social and government responses.



This morning, DB stock is down 4% – following yesterday’s 11% plunge – to a new all-time low. This, one day after it published an open letter to the ECB and BOJ to stop lowering rates, as it is killing their business (read: derivatives book). Which is quite telling, given that every other investment bank is practically pleading for what they erroneously believe will be “market stabilizing” rate cuts and monetizations. Moreover, as its credit default swaps have surged toward their 2008 crisis highs, not only has DB’s management – like those of Enron, Lehman, and all other Ponzis before it – put out a press release “assuring” the world of its financial stability, but sent a letter to its employees not to panic. Again, like Enron, Bear Stearns, Lehman, etc..

From my experience, all that remains of DB’s final death throes – and potentially, the entire global monetary system – are the mysteriously floated “rumors” that all’s well; followed by vicious stock rallies, which ultimately crash back to Earth, just as oil following last month’s “rumors” of Middle Eastern war and Saudi production cuts. And again, I cannot emphasize enough the contagiousness of DB’s toxic derivatives book. Which, when combined with the equally lethal balance sheets of essentially all global banks, may well set off the most devastating nuclear financial disaster of all time.

Again, I don’t know exactly how things will play out – nor does anyone else. However, the way I see it, Deutschebank is at the top of the list of potential catalysts to permanently end financial markets as we know them. And with them, the ability to protect yourself from the inevitable – perhaps imminent – destruction of history’s largest, broadest fiat Ponzi scheme.

http://blog.milesfranklin.com/deutschebank-on-the-verge-of-taking-down-the-entire-global-monetary-system
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Offline windyacres

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Re: Time To Panic About Deutsche Bank! - Probably The Next Lehman
« Reply #74 on: February 10, 2016, 12:27:21 AM »
Dear CIGAs,

After my last article we received two logical questions from readers. The first one pertaining to “gaps” and the Deutsche Bank derivative exposure, the second pertaining to Japan’s strong currency with negative yields while the debt to GDP levels are astronomical. Below is the first question;

“In the past you have warned about derivative exposure and now gapping.

One of my worst fears as a day trader on a derivatives platform is gapping. That is why I will never have an open position when the market is closed. Even then, that is not guaranteed.

A lot of trading platforms got hammered when the Swiss franc was revalued.

Could you put out a letter for your readers explaining why for example the Deutsche Bank derivatives exposure is so dangerous in terms of gapping.”

In my opinion, this is a very astute observation. The reader will not carry overnight positions because as he says, “the Swiss franc revaluation killed many” within less than 10 minutes of the markets opening. That said, even if not in any overnight position and the great leveling moment comes, how does anyone know if their broker even survives the carnage …with YOUR MONEY? But this is another topic entirely.

As for Deutsche Bank, we know they have been recently screaming about negative interest rates hurting their operations. This very well may be so, but it is my opinion it is not so much negative interest rates killing them. I believe it is off balance sheet derivatives. Not only has DB denied any problem, the German finance minister has now chimed in with reassurance! http://www.zerohedge.com/news/2016-0...-deutsche-bank Where have we seen this before? Does Bear Stearns or Lehman Bros. ring a bell? Doth the Germans protest too much? By the way, their credit spreads are stretching out, and stock price has now taken out the 2008 lows!

The second question regarding confusion of Japan’s 10 yr. yield hitting 0% and their currency strengthening while being the fiscal basket case of the world is also a good one but very simple to explain. http://www.zerohedge.com/news/2016-0...4-stocks-crash. Japan has a debt to GDP ratio of 260%, if you add in corporate debt it approaches 400%, how could they not have a crashing currency and 20% (or higher) interest rates? The simple answer is this, the global “carry trade” is unwinding. The Japanese yen was a major tool used to create and float the carry trade which inflated assets. Now, as asset prices are falling, this trade is being unwound (think of it as a margin call). Previous yen that were borrowed are now being bought back to settle the trade. This was a synthetic short similar to the dollar short being covered. A quick question and very short answer, why would anyone in their right mind invest money for 10 years at zero percent in a currency who’s issuer publicly states their goal is to grossly debase? Answer: BECAUSE THEY HAVE TO!

The problem is this, as the yen strengthens from short covering it is putting more and more of these carry trades under water and actually forcing more sales of assets and more buying of yen. This will end in one of two ways …both badly! Either the trades get unwound with asset prices collapsing and the yen at truly stupid levels, or someone “fails” and the derivatives chain breaks. I would personally bet the farm on option number two.

While writing this, CNBC is parading guest after guest as to whether a recession is “likely” …IDIOTS! This is not about a “recession”, this is about whether the entire system fails or not! Can Deutsche Bank “fail” while being counter party to over $70 trillion in derivatives? Can even a small counter party fail without causing a cascade? Just look at the volatility in markets, junk bonds are collapsing, credit spreads blowing out, currencies making wild swings, $7 trillion worth of sovereign debt trading at negative interest rates …not to mention stock markets moving from all time highs into bear markets within just a couple of months. (While editing this, CNBC is actually questioning if DB is a “one off” situation? Is this even possible? Do they even understand what they are asking?!!!)

Do you think “someone” might have lost some money since January 1st? Enough to bankrupt them? THIS is the question! The answer in my opinion is this, there are dead bodies strewn all over the place yet are hidden from view. They are being hidden from view because if they are seen, the entire system comes into question with answers being delivered within probably a 48 hour period. The answer of course will be the biggest “gaps” in all of history …both in price AND time! By this I am saying the re-opening gaps will be larger in percentage and the time to reopen longer than ever before.

Whether you want to see it or not, the financial system is in a forced unwinding. It took some 70 years to build this great credit edifice, when it goes it may take less than 48 hours to take it ALL down. To finish I leave you with a short clip of what the collapse might look like …and how quickly it can get there!

https://www.youtube.com/watch?v=KUsj7EdZigM


Standing watch,

Bill Holter
Holter-Sinclair collaboration
Comments welcome! bholter@hotmail.com


http://www.jsmineset.com/2016/02/09/germans-and-japanese-play-rollover/
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Offline windyacres

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Re: Time To Panic About Deutsche Bank! - Probably The Next Lehman
« Reply #75 on: February 10, 2016, 12:29:54 AM »
Deutsche Bank CEO John Cryan -

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Offline Letsbereal

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"Investors Have Completely Lost Faith In Deutsche Bank" Top Shareholder Admits
« Reply #76 on: February 10, 2016, 03:17:29 AM »
"Investors Have Completely Lost Faith In Deutsche Bank" A Top 10 Shareholder Admits
9 February 2016
, by Tyler Durden (Zero Hedge)
http://www.zerohedge.com/news/2016-02-09/investors-have-completely-lost-faith-deutsche-bank-top-10-shareholder-admits

Are Europe's banks facing their Lehman Brothers moment?
10 February 2016
, by Ben Wright - London (The Telegraph - Financial Review)
http://www.afr.com/opinion/are-europes-banks-facing-their-lehman-brothers-moment-20160209-gmpxg3
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Offline windyacres

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Re: Time To Panic About Deutsche Bank! - Probably The Next Lehman
« Reply #77 on: February 10, 2016, 05:38:29 AM »
Quote

Are Europe's banks facing their Lehman Brothers moment? 

Corrupt banksters always wait until the 11th hour, in the pre-dawn
hours , then put out their distress call and governments step right in
and bail them out.  2008 was just a beta-test. 
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Offline Letsbereal

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Re: Time To Panic About Deutsche Bank! - Probably The Next Lehman
« Reply #78 on: February 10, 2016, 06:30:51 PM »
Deutsche Bank Spikes Most In 5 Years (Just Like Lehman Did) http://www.zerohedge.com/news/2016-02-10/deutsche-bank-spikes-most-5-years-just-lehman-did

Deutsche Bank Will Have Government Backing If Needed, Mack Says http://www.bloomberg.com/news/articles/2016-02-10/deutsche-bank-will-have-government-backing-if-needed-mack-says

Deutsche Bank May Write Down Postbank Again Closer to Sale http://www.bloomberg.com/news/articles/2016-02-10/deutsche-bank-may-write-down-postbank-again-closer-to-sale-date-ikh4hg67

Lender Surge Drives Europe Share Rebound as Deutsche Bank Jumps http://www.bloomberg.com/news/articles/2016-02-10/europe-shares-struggle-to-hold-rebound-deutsche-bank-advances

Deutsche Bank Jumps as Lender Said to Consider Bond Buyback http://www.bloomberg.com/news/articles/2016-02-09/deutsche-bank-erases-loss-in-u-s-trading-on-bond-buyback-report

CoCo DEUTSCHE BANK

Deutsche Bank's CoCo Payments Hinge on Obscure Accounting Metric http://www.bloomberg.com/news/articles/2016-02-10/deutsche-bank-s-coco-payments-hinge-on-obscure-accounting-metric

Deutsche Bank’s Woes Threaten CoCo Coupons, CreditSights Says http://www.bloomberg.com/news/articles/2016-02-08/deutsche-bank-s-woes-threaten-coco-coupons-creditsights-says

Here's What You Need to Know About CoCo Bonds https://www.youtube.com/watch?v=jR9ncJcD8jY

Deutsche Bank’s Assurance Exposes Tip of CoCo Iceberg: Analysis http://www.bloomberg.com/news/articles/2016-02-10/deutsche-bank-s-assurance-exposes-tip-of-coco-iceberg-analysis

CoCo Bonds Take Off: What Are They and How Do They Work? http://www.bloomberg.com/news/videos/2016-02-09/coco-bonds-take-off-what-are-they-and-how-do-they-work

How the Bank Debt That Everyone Is Talking About Works: Q&A http://www.bloomberg.com/news/articles/2016-02-09/how-the-bank-debt-that-everyone-is-talking-about-works-q-a

CoCo the Monkey https://www.youtube.com/watch?v=gXTlAJrgGEY
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Offline Geniocrat

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Re: Time To Panic About Deutsche Bank! - Probably The Next Lehman
« Reply #79 on: February 10, 2016, 10:19:40 PM »
Just print up some debt free money and use it for eugenics operations, tax them and use the revenue to shore up any Nefilimo-nomic deficits.

Or humans can be masters of their own banking system, go to a debt free money system and leave the Nefilim out of the banking eequation.