Josh Sigurdson reports on the downfall of Deutsche Bank from the ground in Frankfurt, Germany at their headquarters and talks about their 3% drop in recent days and 40% drop in the past year. Their attempt to merge with another failed bank, Commerzbank which by the way is just across the street from them in Frankfurt has failed as well. They are desperately attempting to prop up an entity that has been in a tail spin for the most part since the 2008 recession and in a constant state of crisis.
From spoofing gold and silver markets to being downgraded by the S&P. From calling for laying off 1 in 10 employees to having to rewrite their living will. The financial crisis 2.0 begins on the streets of Frankfurt as the start of the global domino collapse. Deutsche Bank’s derivative exposure is unthinkable and their former power worldwide is shockingly deminished to the point of being a “small lender.” This is what happens inevitably when you centralize yourself into temporary prosperity and long term oblivion.