Deutsche Bank is an enormous operation with a global reach. If it gets into trouble, there would be a world-wide impact. And all indications are that it is in trouble.
A few major league hedge funds pulled billions out of Deutsche Bank, citing concerns about the bank’s stability, causing bank shares to fall four percent when the market opened Friday.
…
By either taking steps to pull out of the bank by withdrawing securities or liquidity, or taking measures to ween off trading activities with Deutsche, funds are making their concerns known. Investors are not optimistic about the strength of Deutsche as it faces a $14 billion shellacking from the Department of Justice after probes into Deutsche mortgage-backed securities.
Mortgage-backed securities are what got Lehman into trouble eight years ago. So the similarity is concerning.
Mirroring aspects of the Lehman Brothers debacle, since Lehman failed in no small part from hedge funds panicking and pulling out, Deutsche Bank is facing many similar challenges, according to some in the financial community.
As one would expect, Deutsche is taking measures to calm global investors. How effective those measures will be will in part be determined by exactly how much trouble the bank is really in. And how effective governments and central banks will be in bailing out the troubled bank — something we will never know the full extent of.
Source: Daily Caller
Germany wants #asylum seekers sent back to Greece
http://www.savemysweden.com/germany-wants-asylum-seekers-sent-back-to-greece/
Janalee Grim Davis
thats bad
how