Proud Moments in Neoliberalism: Deutsche Bank Peril Makes the NYT
LONDON — Germany’s largest bank appears in danger, sending stock markets worldwide on a wild ride. Yet the biggest source of worry is less about its finances than a vast tangle of unknowns - not least, whether Europe can muster the will to mount a rescue in the event of an emergency.
http://mobile.nytimes.com/2016/10/01/business/dealbook/deutsche-bank-sto...
I'm just a poor boy from a poor family, but losing half the share value in this incomplete year doesn't sound enticing to would-be investors with normal agendas. But, not to worry according to an Italian finance professor:
“Deutsche Bank is so big and so systemically important that the rules will be bent,” Mr. Borri said. “If I were an investor, I would assume that the rules would be bent.”
Of course, it all may be a nifty strategy to hold down the Justice Department noodle thrashing:
Deutsche is sitting on cash reserves worth €240 billion, or about $269 billion. It has sold bonds that can be converted to equity should the need arise. The Justice Department’s proposed fine of $14 billion is viewed as the opening of a negotiation that could cost Deutsche a fraction of that amount — thinking that sent the stock surging on Friday.
Too big for my possibly imperiled britches!
[video:http://youtu.be/SKRma7PDW10]
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This comment appeared as if
by magic. So in honor of Barry Manilow's last tour:
[video:https://m.youtube.com/watch?v=52-EkZRnG2E]
And Angela Merkel ponders lack of support
in her home state of Mecklenburg-Vorpommern.
Gëzuar!!
from a reasonably stable genius.
I wonder what the Greek word for "schadenfreude" is.
Because I'd bet we're seeing quite a bit of it in Greece right now!
"US govt/military = bad. Russian govt/military = bad. Any politician wanting power = bad. Anyone wielding power = bad." --Shahryar
"All power corrupts absolutely!" -- thanatokephaloides
We saw it here weeks ago
Thanks for all your hard work in this subject!
We can’t save the world by playing by the rules, because the rules have to be changed.
- Greta Thunberg