Friday's market session was about one thing: will Deutsche Bank stock close the week ahead of a three day holiday at a record low. It did not because, as we reported, the AFP announced that based on "sources" (most likely from Twitter), the DOJ was willing to reduce the $14 billion settlement that sent DB stock on a rollercoaster ride over the past two weeks, to just under $6 billion. The news unleashed a massive short squeeze relief rally, which sent DB stock soaring on Friday, pushing the entire market up 1%.
And while repeated attempts by the likes of Reuters to get additional information from either the DOJ, the German government or Deutsche Bank itself, have proven fruitless, overnight Frankfurter Allegemeine Zeitung reported that Deutsche Bank executives are heading to the United States in the coming days to negotiate the $14 billion settlement over a fine the infamous $14 billion for misselling RMBS.
In other words, not only was the $5.6 billion "agreed upon" number, as "reported" by Twitter and then AFP, bogus, but the actual negotiations have not yet even begun.
Negotiations with the DOJ did not even started. . The $ 5.4 billion settlement was invented out of thin air by AFP. DB faces more trouble in Italy for helping BMPS falsify its book. Everybody is on holiday in Germany.
dc CB 17:02:27 GMT - 10/01/2016
GVI Trading john bland 15:00 GMT
Now they want them to go back to a single line of business
They have a Single Line of Business, it's called FRAUD.
Defrauding since 1999.
GVI Trading john bland 15:00:34 GMT - 10/01/2016
Having been around money center banks for more decades than I would like to admit, eliminating "too big to fail" is a pipe dream there were regular bank failures that required government intervention when they were only a fraction of their current sizes. Banks diversified with the encouragement of the central banks (FED!) to prevent all these crises.
Now they want them to go back to a single line of business again making them vulnerable to a single business line failure. These jokers have no memory nor knowledge of recent history. Lawyers!
Plus ca change...
PAR13:57:57 GMT - 10/01/2016
What the purpose of being in business or to raise capital if you are not profitable . Deutsche bank - the more business they do the more money they lose . Break up the whole thing . Not TBTF just too big to manage and too big for regulators who have just no idea of what 's going on .
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