Is Deutsche Bank turning into Germany's Anglo?

Oxter

Its share price is down to €6 from €106 and falling. It will make Anglo look like a minor hiccup.

Omackeral

Is this part of the updated silly and fun AH?

ILoveYourVibes

I have lost track of how many money laundering scandals they have had at this stage.

ILoveYourVibes

Omackeral wrote: »

Is this part of the updated silly and fun AH?

This can be fun!

kneemos

Money laundering,law suits,6000 job loses and further cutbacks.

https://www.theguardian.com/business/2019/may/23/deutsche-bank-shares-slump-further-as-fallout-from-bad-press-continues

SEPT 23 1989

They will never be allowed fail

Oxter

Omackeral wrote: »

Is this part of the updated silly and fun AH?

For people who can spell. We can now fotce the Getmans to bail them out paid for by Austerity Measures and a massice USC. Tit for tat

_blaaz

Whats german for biffo

amcalester

_blaaz wrote: »

Whats german for biffo

Biffö

ILoveYourVibes

kneemos wrote: »

Money laundering,law suits,6000 job loses and further cutbacks.

https://www.theguardian.com/business/2019/may/23/deutsche-bank-shares-slump-further-as-fallout-from-bad-press-continues

I dunno if there is a single country they are NOT being investigated for laundering in at this stage.

https://www.nytimes.com/2019/06/19/business/deutsche-bank-money-laundering-trump.html

To the poster above me.

No they won't be allowed to fail. Which is worse for us. Because we have to bail em out!

ILoveYourVibes

Oxter wrote: »

For people who can spell. We can now fotce the Getmans to bail them out paid for by Austerity Measures and a massice USC. Tit for tat

They would go full psycho.

Germany is full of oligarchs and corruption. People just don't know.

Most millionaires of any European country.

whiskeyman

Don't worry.
Aongus VB will sort it out.

SEPT 23 1989

Oxter wrote: »

For people who can spell. We can now fotce the Getmans to bail them out paid for by Austerity Measures and a massice USC. Tit for tat

Germans don't do austerity...,,,

Danzy

DB is Anglo on steroids.


German banking is notoriously shady and corrupt.

DB is being investigated for money laundering, etc.

It is planning to create a bad bank as well, where it can park its problems for a bit.

The Bank is now worth less than 16 billion and has 40 trillion in Derivatives.

Ten years after Anglo and others, DB is still awash with non performing loans.

There is a sizable chance it may have to be bailed put by the German State.

ILoveYourVibes

SEPT 23 1989 wrote: »

Germans don't do austerity...,,,

You said it.

Partic bavarians.


BIG spenders.

They will make other people pay if they can.

ILoveYourVibes

Danzy wrote: »

DB is Anglo on steroids.


German banking is notoriously shady and corrupt.

DB is being investigated for money laundering, etc.

It is planning to create a bad bank as well, where it can park its problems for a bit.

The Bank is now worth less than 16 billion and has 40 trillion in Derivatives.

Ten years after Anglo and others, DB is still awash with non performing loans.

There is a sizable chance it may have to be bailed put by the German State.

They will find some way to ask the EU or something.

I don't think it will actually need to be bailed out though.

You are correct it's really shady though.

Oxter

Trump is a DB investor.

blackwave

SEPT 23 1989 wrote: »

They will never be allowed fail

The Donald will bail them out shure after all they lent to him when no one else would. Just shows how much due diligence they were conducting or just plain ignoring lending to somebody that has declared bankrupt a few times.

This report is really worrying for me. Basically there was a glitch in their system which prevented reporting of suspicious activity to be reported for 10 years. For it to be there that long, is too long of a stretch to reasonably expect there not to be knowledgeable of it.
https://www.ft.com/content/d537f416-7c71-11e9-81d2-f785092ab560

Also they were not conducting full anti-money laundering on clients and had a zero percent pass rate on the documents that they held on file for identifying if someone was able to account for their money which is shocking and shows how easy it is for someone to launder money through the bank.
https://www.irishtimes.com/business/financial-services/deutsche-bank-struggling-to-clean-up-money-laundering-problems-1.3585484?mode=amp

But like Anglo this is not the fault of the German people just the fault of corrupt bankers who mislead investors and regulators and showed contempt for them as well.

Danzy

ILoveYourVibes wrote: »

They will find some way to ask the EU or something.

They probably will, Germany might not be able to solve this one on its own.

DB is effectively in a death spiral and has been for a decade.

75% share price fall from its height and the trend remains negative.

It’s kind of odd seeing a German bank in trouble.

It’s like finding your Uber religious auntie has been caught snorting coke off a male stripper.

ILoveYourVibes

Oxter wrote: »

Trump is a DB investor.

:pac: Watch him move around the US economy to save them so!

ILoveYourVibes

Aegir wrote: »

It’s kind of odd seeing a German bank in trouble.

It’s like finding your Uber religious auntie has been caught snorting coke off a male stripper.

I know why you think that.

But actually corruption is rife in German banking.

There was talk about merging commerzbank and deutsche bank. But they stopped that pretty quick.


The Danish bank Danske Bank is also in the ****ter.

There is a lot of corporate corruption.

<snip> They are blunt and forthright. But not free hearted. Not open.

Its easy to have a reputation for being honest when you have a reputation for being uptight.

I have not found it to be true.

kneemos

Oxter wrote: »

Trump is a DB investor.

Trump is sueing DB for preventing him from paying back DB.

Oxter

ILoveYourVibes wrote: »

I know why you think that.

But actually corruption is rife in German banking.

There was talk about merging commerzbank and deutsche bank. But they stopped that pretty quick.

Volkswagen had a good reputation untill the emissions

The Danish bank Danske Bank is also in the ****ter.

There is a lot of corporate corruption.

Germans deceive a lot. They are blunt and forthright. But not free hearted. Not open.

Its easy to have a reputation for being honest when you have a reputation for being uptight.

I have not found it to be true.

Volkswagen"s emissions scandal, with 1 VW exec jailed in the Ststes is a good example of German corruption.

ILoveYourVibes

Danzy wrote: »

They probably will, Germany might not be able to solve this one on its own.

DB is effectively in a death spiral and has been for a decade.

75% share price fall from its height and the trend remains negative.

They could have should have got their hands on this 5 yrs ago. It's ridiculous the way it has gone on for so long.

Also the danish bank danske ..my cousin worked there for a while he is out now..thankfully ...same there ...

Danzy

Aegir wrote: »

It’s kind of odd seeing a German bank in trouble.

It’s like finding your Uber religious auntie has been caught snorting coke off a male stripper.

In reality the German banking sector has massive problems, especially the landesbanks.

Massive corruption, debt problems etc.

ILoveYourVibes

Oxter wrote: »

Volkswagen"s emissions scandal, with 1 VW exec jailed in the Ststes is a good example of German corruption.

Oh yeah https://www.irishtimes.com/business/transport-and-tourism/vw-emission-cheating-who-knew-what-and-when-1.3537754

They had to pay like 4 billion ..

Then the chief exec used the nazi slogan that is written on the gates of Auschwitz while presenting the company's financial results . 'Arbeit macht frei'...Work will set you free.

It was quite surreal.

Damien360

Banks globally are not going to change and become less "risky".

As long as sales can collect their bonus from a sale in the same year as the sale, despite the bank being unable to realise that profit for many years ahead, nothing will change.

We reward high risk, but the risk is never anyone's but the account holders and the government's that bail them out.

The world bailed out the wealthy in the last recession and will do it again.

ILoveYourVibes

Damien360 wrote: »

Banks globally are not going to change and become less "risky".

As long as sales can collect their bonus from a sale in the same year as the sale, despite the bank being unable to realise that profit for many years ahead, nothing will change.

We reward high risk, but the risk is never anyone's but the account holders and the government's that bail them out.

The world bailed out the wealthy in the last recession and will do it again.

I understand. Yes. Its almost psychological.

I can't claim to know the ins and outs in great detail. I just keep vaguely up with it. It would probably be beyond my understanding anyway.

You never let them fail you never let them learn though.

Phoebas

Oxter wrote: »

Trump is a DB investor.

If by 'investor' you mean borrowed a ton load of money that he defaulted on.

ILoveYourVibes

ILoveYourVibes wrote: »

I know why you think that.

But actually corruption is rife in German banking.

There was talk about merging commerzbank and deutsche bank. But they stopped that pretty quick.


The Danish bank Danske Bank is also in the ****ter.

There is a lot of corporate corruption.

Germans deceive a lot. They are blunt and forthright. But not free hearted. Not open.

Its easy to have a reputation for being honest when you have a reputation for being uptight.

I have not found it to be true.

That may be true, but can you imagine this happening at the same time as every other bank in Europe was going under.

Yurt2

40 trillion in derivatives, FFS. You'd have thought that regulators and politicians would have learned their lesson after the last financial crisis.

Oxter

ILoveYourVibes wrote: »

Oh yeah https://www.irishtimes.com/business/transport-and-tourism/vw-emission-cheating-who-knew-what-and-when-1.3537754

They had to pay like 4 billion ..

Then the chief exec used the nazi slogan that is written on the gates of Auschwitz while presenting the company's financial results . 'Arbeit macht frei'...Work will set you free.

It was quite surreal.

And of course gullible Paddy in Ireland believes VW and goes back to buying their cars after a brief dip in sales.

Oxter

ILoveYourVibes wrote: »

Oh yeah https://www.irishtimes.com/business/transport-and-tourism/vw-emission-cheating-who-knew-what-and-when-1.3537754

They had to pay like 4 billion ..

Then the chief exec used the nazi slogan that is written on the gates of Auschwitz while presenting the company's financial results . 'Arbeit macht frei'...Work will set you free.

It was quite surreal.

The $4 billion was paid in America.
How much were they fined in Ireland? Not 1 cent.

We have been licking their asses for far too long. Leo"s promotion to Europe would be at risk if we stood up to them.

Wanderer78

Oxter wrote:

Its share price is down to €6 from €106 and falling. It will make Anglo look like a minor hiccup.

Possibly Europes most bankrupt and dodgy bank, nothing to see here folks, just sign that bail out, or maybe even bail in deal, and it ll all be grand! Could very well be the straw that breaks the EU!

Oxter

Wanderer78 wrote: »

Possibly Europes most bankrupt and dodgy bank, nothing to see here folks, just sign that bail out, or maybe even bail in deal, and it ll all be grand! Could very well be the straw that breaks the EU!

Dont new banking laws in America and possibly Europe stste thst if a bank becomes insolvent that the first thing thst happens is that all its deposits are converted into bank shsres?

Wanderer78

Oxter wrote:

Dont new banking laws in America and possibly Europe stste thst if a bank becomes insolvent that the first thing thst happens is that all its deposits are converted into bank shsres?

As far as I'm aware, yup, it ll be interesting to see how the population reacts to their deposits being converted into useless bank shares, upon their banks collapse, and best of luck with getting your money back

Danzy

It is, much of those derivatives are guessed values.

The point being that they are massive for a bank worth circa 12bn now, a bit more than AIB yet is one of the largest in the world, top 20 anyway.

Auguste Comte

Aegir wrote: »

It’s kind of odd seeing a German bank in trouble.

It’s like finding your Uber religious auntie has been caught snorting coke off a male stripper.

I wasn't stripping I was artistically dancing and we had run out of tk red lemonade..

Plumbthedepths

.

Oxter

Oxter wrote: »

Dont new banking laws in America and possibly Europe stste thst if a bank becomes insolvent that the first thing thst happens is that all its deposits are converted into bank shsres?

All deposits in Europe are guaranteed up to 100k.

That means if you have 200k on deposit with any bank and it goes bust you will get 100k back, it's an scheme all banks pay into.

If you happen to have 500k and want to leave it on deposit, you can spread it around 5 banks and it will be protected.

OMM 0000

ILoveYourVibes wrote: »

Its easy to have a reputation for being honest when you have a reputation for being uptight.

I think this is spot on. I work with some Germans, and a lot of Japanese, and many would be considered "uptight". I've noticed time and again people confuse this with honesty and integrity. Yet these are some of the most dishonest people I've worked with.

It's similar to how the quiet, polite people are often considered "nice", yet they're usually just passive aggressive.

Kivaro

Danzy wrote: »

DB is Anglo on steroids.


German banking is notoriously shady and corrupt.

DB is being investigated for money laundering, etc.

It is planning to create a bad bank as well, where it can park its problems for a bit.

The Bank is now worth less than 16 billion and has 40 trillion in Derivatives.

Ten years after Anglo and others, DB is still awash with non performing loans.

There is a sizable chance it may have to be bailed put by the German State.

One would have to wonder where is the oversight in all of this?
Or are the oversight bodies complicit in the shady dealings of international banking?
Think back at Anglo; where was the Central Bank in that debacle?
I do know that they have a new fancy sparking building in the middle of Dublin.

The Central Bank of Ireland is part of the European System of Central Banks. All tied to the hip.

Mad_maxx

The share price decline is a sight to behold, wonder what the bonds are yielding?

Mad_maxx

Oxter wrote: »

Volkswagen"s emissions scandal, with 1 VW exec jailed in the Ststes is a good example of German corruption.

That's more an example of American authorities making an example of foreign corporations, GM got a smack on the wrist despite an ignition failure causing deaths, VW fined billions

suicide_circus

The Irish taxpayer was the patsy for Anglo and more. Time for some pain for the German taxpayer?

_blaaz

[Deleted User] wrote: »

All deposits in Europe are guaranteed up to 100k.

That means if you have 200k on deposit with any bank and it goes bust you will get 100k back, it's an scheme all banks pay into.

If you happen to have 500k and want to leave it on deposit, you can spread it around 5 banks and it will be protected.

Tbh that guarantee isnt worth the paper its wrote on....if banks did fold in morning in any euro stare virtually none could raise the money to cover the guarantee....its a pure confidence trick

_blaaz

_blaaz wrote: »

Tbh that guarantee isnt worth the paper its wrote on....if banks did fold in morning in any euro stare virtually none could raise the money to cover the guarantee....its a pure confidence trick

You're making an assumption based on nothing but pessimism tbh. The scheme would cover crises more catastrophic than 07/08.

_blaaz

[Deleted User] wrote: »

You're making an assumption based on nothing but pessimism tbh. The scheme would cover crises more catastrophic than 07/08.

Do you honestly think the state here could raise the money to cover all deposits upto 100K??



Id love to have your blind faith

kneemos

_blaaz wrote: »

Do you honestly think the state here could raise the money to cover all deposits upto 100K??



Id love to have your blind faith

Anyone with that kind of dosh probably has it invested,or most folks anyway.

_blaaz

_blaaz wrote: »

Do you honestly think the state here could raise the money to cover all deposits upto 100K??



Id love to have your blind faith

Well I can see you've considered it deeply and completed your research