Looking for a stock steal? Try the Deutsche Bank. Those stealing bankers are a steal of a deal!
The Federal Reserve has designated Deutsche Bank AG’s sprawling U.S. business as being in a “troubled condition,” a rare censure for a major financial institution that has contributed to constraints on its operations, according to people familiar with the matter.
The Fed’s downgrade, which took place about a year ago, is secret and hadn’t previously been made public. The “troubled condition” status—one of the lowest designations employed by the Fed—has influenced the bank’s moves to reduce risk-taking in areas including trading and lending to customers…
The shares closed down 7.2% in Frankfurt, at €9.16, their lowest close on the Xetra exchange, according to data going back to 1991.
Bei der Deutschen Bank reißen die Negativ-Meldungen nicht ab: Am Donnerstag war die Aktie mit 9,157 Euro und damit dem niedrigsten Schlussstand seit Anfang der Achtzigerjahre aus dem Handel gegangen.
So what’s the big deal? Now all of ze Europe officially has a bad bank, too.
It’s called the ECB and is the “bad bank for all the junk debt of Europe.”
“Blank cheque for the indebted states,” was the headline of the top-selling Bild newspaper, a harsh, populist critic of the bailouts for Greece and other struggling euro zone nations, adding that the ECB move could render the euro “kaput”.
“Financial markets cheer the death of the Bundesbank.”
Observing Hermann 