We called the pending bedlam at Deutcher Bank some time ago.
Will 18,000 Job Cuts save the Bank.
Ok, we will make the call.
Deutsche 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 workforce and slash operations in New York and London.
About 18,000 people will lose their jobs as Deutsche Bank closes or shrinks operations that sell stocks and bonds. 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.
Deutsche Bank’s appetite for risk was perhaps epitomized by its relationship with Mr. Trump. Deutsche Bank continued to lend to the Trump Organization long after other lenders concluded that the risk was too great. 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.
Just One Problem.
“The plan announced Sunday does not address another urgent problem, the lack of profitable businesses with potential for growth.”
Other than that minor problem, cutting 18,000 is the start of a return to the roots.
To truly return to the roots, Deutsche Bank needs to go bankrupt, why? Because it’s likely to be insolvent as of today!!
It should have gone a very long time ago.
Looks like Zombification is alive and well folks.
If you can remove your money from the impending Stock Market collapse, please do so.
Put your money into Land. NOW!
Stay safe, good luck.
H&Gs Head Boy.