The grey lady has been overrun by infants. You stomped your feet and soiled your diapers and yet still the public voted for the outsider. What a stupid thing for a news organization to write. Deutche Banks’ troubles have nothing to do with Trump borrowing money or not. Good grief these conspiracy theorists at the NYTimes are destroying their papers’ reputation.
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But with incoming ECB president Christine Lagarde poised to slosh around free money, shorts may wish to consider covering. To truly return to the roots, Deutsche Bank needs to go bankrupt.Īnd it should have, long ago.
Other than that minor problem, cutting 18,000 is a start of a return to the roots. “The plan announced Sunday does not address another urgent problem, the lack of profitable businesses with potential for growth.” In the last year, Deutsche Bank has also been burdened by investigations of lax money laundering controls and has been under intense scrutiny by regulators in the United States and Europe. Deutsche Bank continued to lend to the Trump Organization long after other lenders concluded that the risk was too great. Sewing said in a statement on Sunday.ĭeutsche Bank’s appetite for risk was perhaps epitomized by its relationship with Mr. “ We are returning to our roots and to what once made us one of the leading banks in the world,” Mr. The question in the months ahead will be whether the turnaround effort by Christian Sewing, Deutsche Bank’s 49-year-old chief executive, comes too late. One-third of the management board will leave the bank as part of the overhaul, and more than $300 billion in risky assets will be quarantined in a separate unit. Please consider Deutsche Bank Scales Back Ambitions, Announcing Job Cuts and Reorganizationĭeutsche Bank embarked Sunday on what may be its last chance to reverse a decade of decline, announcing that it would cut a fifth of its work force and slash operations in New York and London.Ībout 18,000 people will lose their jobs as Deutsche Bank closes or shrinks operations that sell stocks and bonds. More hesitant restructuring efforts are giving way to what the and others see as a major overhaul at Big question that’s now on the table is whether #DB can shrink itself to heightened competitiveness and sustainable profitability without a merger of some sort.
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