Deutsche Bank still circling the toilet bowl [Ed: Figurative Language ALERT for Art Degree people out there... they are not actually all in a big toilet bowl going around and around ofc... haha! gotta be careful with reification Art Degree people... ]
The "neo-liberal conspiracy!" continues to impress... those crafty "neo-liberals!" really know how to make the munnie don't they!
Let us watch what happens to them going forward into next year if the ECB stops adding reserve assets next month (Ed Note: I'm addressing Science trained people with "us" here... Art Degree people authorized to continue with normal finger painting activities...)
Deutsche Bank's decline continues apace. Shares slump to record low just above €8, down 25% in two months. Look where they were pre-GFC in May 2007 ... over €90. They've lost over 90% of their value since then. pic.twitter.com/1ZYho6tjGt— Jamie McGeever (@ReutersJamie) November 20, 2018
It’s not art people who has problems understanding figurative language. It’s you who has those problems.
ReplyDeleteBut you have no problems ascribing your problems to others. So good for you!
Neoliberals are so greedy that they frequently make mistakes, which would kill them if they didn’t have governments to bail them out. The worse they are, the more they are “too big to fail.”
ReplyDeleteIn Deutsche Bank’s case, senior managers’ stupidity was beyond grotesque: it was positively Franko-esque. Management abandoned 146 years of stability in order to become a fully neoliberal and globalist investment bank. Caution is for losers. Rules are for fools.
Deutsche Bank got in far over its head, and was finally destroyed by neoliberal greed and Franko-morphic stupidity.
A Der Spiegel article lays it all out. It is lengthy, but I read the whole thing. I shall read it again...
http://www.spiegel.de/international/business/the-story-of-the-self-destruction-of-deutsche-bank-a-1118157.html
Yo going down from 90 to 8 is what competent people would call a “fail”.....
ReplyDeleteWhy did Deutsche Bank fail?
ReplyDeleteThe solution to systemic bank problems is simple:
ReplyDelete1) Allow all citizens, their businesses, State and local government, etc. to have debit/checking accounts at the Central Bank.
2) Remove all other privileges for depository institutions in a responsible, just way.
Then we shall have TWO payments systems to choose from (besides physical fiat, aka "cash"):
a) an at-risk, not-necessarily-liquid payment system that works through depository institutions.
b) a risk-free, always liquid payment system that entirely bypasses depository institutions.
In other words, systemic banking problems are purely a matter of choosing injustice over ethical considerations.