Josh Sigurdson reports on the continued collapse of Deutsche Bank as they desperately attempt to restructure, cutting tens of thousands of jobs, recently over 100 million euros and now cutting 20% of bonuses.
It’s hard enough to keep the best employees at Deutsche Bank through the ten year long collapse, failed Commerzbank merger, bad bank, S&P downgrade, Fed living will test and share price spiral, but now 20% of bonuses are being cut.
Who would want the reputation of being one of the top people at Deutsche Bank after it collapses? That’s like saying you were one of the people behind the success of Lehman Brothers…
Well, with a massive derivative exposure and an everything bubble world wide, this does not look good for Deutsche Bank. It’s incredible it has lasted as long as it has.
In the end, this will be one of the greatest dominoes to fall worldwide in the financial system. It will be Lehman Brothers 2.0.