Posted on 10/08/2015 10:29:17 AM PDT by Lorianne
Deutsche Bank, the giant German bank that has a big presence on Wall Street and is facing much regulatory scrutiny in the United States, on Wednesday warned that it expects to post a hefty loss in the third quarter.
The bank, Germany’s largest, forecast a net loss of 6.2 billion euros, or nearly $7 billion, for the quarter. It comes just months into the tenure of Deutsche Bank’s new co-chief executive, John Cryan, who is trying to overhaul the institution. Along with the scandal and upheaval at Volkswagen, Deutsche’s struggles point to some of the weaknesses of Germany’s corporate culture.
“The news is not good, and I expect a number of you will be very disappointed by it,” Mr. Cryan said in a memo to employees. “We expect to report a sizable loss for the third quarter.”
(Excerpt) Read more at nytimes.com ...
And The Pyramid shakes...
Watch and See...
“And The Pyramid shakes...
Watch and See...”
Yep, if that bank fails, it will be bad news all around.
New guy loads up the losses so it will be on his predecessor, not him.
Unfortunately the IMF and other Organizations have created this mess
It is more than people can handle to realize just how much of the “wealth” in this world is Electronic, no wagons of cash you could easily pick up
Virtual Money ...
God says in the end days to have Silver on hand, probably not as volatile as Gold and smaller incrments of trade value. Also, a lot of the “Gold” stocks out in banks may be gold on the outside but a “trojan” metal at the core yielding a less than 20% actual gold yield upon re-smelting
The world is being shaken by God to wake us from our slumber and stir our hearts and souls into action, or acceptance
In short, We all must make a choice for the direction of our lives
Into the Light...
Into the Darkness...
Or to bring it into the common day lexicon:
Star Wars
God is “The Force” that permeates the Universe and provides all we need when aligned
Jedis - Christians, believers in Faith of a Divine God and his gift to each of us, a Divine Soul
The Empire - All opposed to a Universe where Love is the total nature and way of the Universe, Peace and Harmony between all..
In Gods way, once destroyed Evil in all its permutations and forms is banished, gone forever
Choose...
Typical financial manipulation. The new guy writes off a bunch of assets as losses to clear the deck and then when he recovers some value he recognizes big profits and looks like a hero.
The euro exchange rate has gone from 1.3871 dollars in April 2014, down to 1.1313 now. It hit as low as 1.0626 back in April 2015.
Very good. Thanks.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.