Deutsche Bank

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if my memory is correct, sub-prime mortgages were sold in early 2000s by dishonest US bank loans managers to borrowers who did not have sufficient income to service the mortgage interest charged at normal rate after the initial discount period. The sub- prime mortgages were bundle with prime mortgages and securitised; and sold on to other banks.

Lehmen Bros. US Investment Bank tried to grow its business trading in securities based on sub-prime mortgages and became insolvent and went bankkrupt in Sept 2008.

Its surprising that the Board of Directors of Deutsche Bank never learnt the lesseon from Lehmens Failure.
This toxic subprime financial products were even sold in Singapore to unsuspecting pop & mom banking customers. And all over the World.

Isn't because of it now Pop & Mom investors have to pass "SIP" course b4 allow to buy such products or like them.

It is like to go into Casinos in Singapore for 24 hours only, U have to show U can afford to pay the entrance fee of now $150 or ? to our G.

Now U know it upfront, no complain is allowed.

1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.

Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.

My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
Deutsche Bank has made its biggest quarterly loss in four years as it counts the costs of plans to reduce its global workforce by 18,000.

The German lender made a €3.1bn (£2.8bn) net loss in the second quarter, driven by €3.4bn in costs related to job cuts and reorganisation at the bank.

Deutsche Bank expects the turnaround strategy to cost a total of €7.4bn and is aiming to return to profit next year.

It is the bank’s biggest quarterly net loss since the third quarter of 2015, when that figure reached €6bn, and is the second largest since the final months of 2008, when the financial crisis took hold. It also follows a €201m profit in the first quarter of 2019.
After two men carrying suit bags were spotted leaving the Deutsche Bank premises earlier this week, it emerged that they were from Fielding & Nicholson, an upmarket tailor. Ian Fielding-Calcutt, the tailor’s founder, and Alex Riley were there to fit suits for senior managers – just as the bank announced plans to cut a fifth of its global workforce. Deutsche Bank employs 7,000 people in London; some analysts believe up to 3,000 jobs could go from its City operations.

“Our timing was not great,” Fielding-Calcutt told Financial News this week. “I think a lot of the people getting laid off were traders of some sort, who don’t wear suits, and so we just went ahead as normal with our clients, who obviously weren’t affected by the cuts.”

Fielding & Nicholson suits take up to eight weeks to make and prices start at £1,200.
The record of past fines has damaged the German bank as a world class player. .


It is fined $2.5bn (£1.7bn) by US and UK regulators for rigging the Libor interest rate, ordered to fire seven employees and accused of being obstructive towards regulators. Joint chief executives Anshu Jain and Jürgen Fitschen resign in the wake of the Libor scandal. The bank is fined a further $258m in the US for doing business with US-sanctioned countries like Iran and Syria.

As regulators continue to sift through the wreckage of the banking crash, Deutsche takes a large slice of the blame. In September 2016, its shares slump on news that the institution faces a $14bn (£10.5bn) charge over mis-selling mortgage securities in the US. It eventually reaches a $7.2bn settlement with the US Department of Justice.

UK and US regulators fine Deutsche more than $630m (£506m) after finding that the lender failed to prevent $10bn of Russian money laundering via 'mirror trades', which had no economic purpose and served only to transfer money covertly.

New York financial regulators hand down a fresh fine, just $205m this time, for 'lax oversight' in the bank’s foreign exchange business when it was the world’s largest dealer in foreign currency.

Christian Sewing takes over as chief executive and after three consecutive years of heavy losses, he slashes 7,000 jobs from Deutsche’s bloated investment banking arm.

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