Posted on 09/23/2016 10:20:22 AM PDT by Lorianne
While the most recent set of troubles plaguing Deutsche Bank have been duly documented here, most recently yesterday when the stock price tumbled once again just shy of all time lows over fears the bank's multi-billion DOJ settlement could severely impact its liquidity and/or solvency, this may be the first time we have heard the "n"-word tossed around in an official German publication: as Germany's top financial newspaper, Handelsblatt said, "German financial officials reacted with shock and dismay to the leaking of a U.S. government demand for a $14 billion fine against Deutsche Bank, which may ultimately need a state bailout to pay the bill."
Some more details from the article titled "Deutsche Bank in New Existential Crisis":
Discussion of Deutsche Bank’s shaky capitalization has burst back to life, with renewed speculation on whether Chief Executive John Cryan will be forced to raise new capital, which he had previously ruled out, or make emergency asset sales.
Some have even raised the possibility of a government bailout of Germany’s largest bank, which would be a defining event and a symbolic blow to the image of Europe’s largest economy.
And some more troubling truth:
Many analysts fear the bank may be in a vicious circle, with losses and cancelled dividends pushing down share prices and preventing the rebuilding of a capital buffer.
One thing is clear. With this many unresolved legal issues, any recapitalization is likely to mean selling new shares at knock-down prices. One bright spot for the bank may be ongoing negotiations with finance company Phoenix Group for the sale of Abbey Life, its British insurance subsidiary.
(Excerpt) Read more at zerohedge.com ...
They will bring in more “migrants” to pay for it.
Remember, all the reserve banks, like the Federal Reserve, are in existence for is to bail out the big banks if the need arises.
This is Obama up to his old tricks---getting monies to finance voter fraud. D/Bank should refuse to pay----as the Japanese bank did. Read on.
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Finally, A Bank Stands Up To Obama's Shakedown
IBD | 03/18/2015 / FR Posted by SeekAndFind Extortion: After 16 banks caved in to White House demands to refund billions in losses to Fannie Mae and Freddie Mac, one outlier remains unrepentant. Nomura Holdings refuses to succumb to the political shakedown.
The Japanese bank's U.S. unit won't give in to extortionist regulators protecting Fannie/Freddie who claim it hoodwinked the toxic twins into buying pools of subprime mortgages, like it claimed Bank of America, JPMorgan and other U.S. banks did in the run-up to the mortgage crisis.
The government demands $1 billion in damages. Nomura says it won't give a dime toward the $18 billion ransom the feds already have shaken out of other banks who settled with the Federal Housing Finance Agency. Instead, it will make government prove it in court.
In opening arguments this week, the defendants argued Fannie and Freddie bought the mortgages knowing they were subprime and did so to meet "affordable housing" quotas of their political masters at HUD.
Unfortunately for Nomura, the game is rigged. The federal judge hearing the case — Clinton appointee Denise Cote — is a ringer for the administration. In recent filings, Cote has shown extreme prejudice in her decisions — virtually all rendered against Nomura.
Even though she concedes that, in buying subprime securities from Nomura, "Freddie Mac considered the extent to which underlying mortgage loans satisfied these housing goals," Cote claims such evidence is "immaterial" to the case. She argues the regulatory mandates, purchasing quotas and other political pressures heaped on Fannie and Freddie were merely "idiosyncratic" and therefore irrelevant.
Please. The HUD goals are highly relevant to this case. Internal documents from both HUD and Fannie and Freddie show the goals were driving them deeper into the subprime securities market and both complained about a growing risk of losses. So clearly, they understood the risks. (Excerpt) Read more at news.investors.com ...
RE:”The Japanese bank's U.S. unit won't give in to extortionist regulators protecting Fannie/Freddie who claim it hoodwinked the toxic twins into buying pools of subprime mortgages, like it claimed Bank of America, JPMorgan and other U.S. banks did in the run-up to the mortgage crisis. The government demands $1 billion in damages. Nomura says it won't give a dime toward the $18 billion ransom the feds already have shaken out of other banks who settled with the Federal Housing Finance Agency. Instead, it will make government prove it in court. “ a case to watch ping!
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Obama and Congressional Democrats----with a huge assist from Eric Holder----have given NeighborWorks America (formerly ACORN) and La Raza a huge funding source of tax dollars to achieve Obama's dream of a permanent Democrat majority.
Obama/Holder/Dems are forcing taxpayers via DOJ litigation WRT bank settlements----into paying off these nefarious organizations.
DOJ went after CitiCorp and ordered them to pay $50 million to La Raza and NeighborWorks America as part of the settlement.
Another clause in the agreement makes it possible for La Raza and NeighborWorks America to rake in even larger amounts of money.
Of the remaining money the banks needed to pay in settlements, the banks were able to contribute additional money to La Raza and NeighborWorks America. For every dollar they contribute, it reduces their debt to the government by 2 dollars. That’s some mighty powerful incentive to give generously.
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House Judiciary Committee Chairman Bob Goodlatte (R-Va.) and House Financial Services Chairman Jeb Hensarling have questioned why this money was sent to the ACORN clone and the blood-thirsty LaRaza----rather than to the alleged victims of the bank’s crime. The administration of course declined to answer.
Here's part of the Congressmen's letter to Holder: “It seems that the alleged victims are not the primary beneficiaries of these multi-billion dollar settlements. Instead, the terms in the Justice Department’s two latest settlements look less like consumer relief and more like a scheme to funnel money to politically favored special interest groups.”
“This makes donations to activist groups far more attractive to banks than providing direct relief to injured consumers. As a result, the settlements appear to serve as a vehicle for funding activist groups rather than as a means of securing relief for consumers actually harmed.”
So now, with Social Security cards, manpower and tons of money to go along with the two years before the next presidential election, the largest and most successful voter fraud campaign may alter the course of the elections not to mention the future of the United States.
Newly uncovered internal memos reveal the Obama administration knowingly exaggerated charges of racial discrimination in probes of Ally Bank and other defendants in the $900 billion car-lending business as part of a racial justice campaign that's looking more like a massive government extortion and shakedown operation
Obama's Consumer Financial Protection Bureau has reached more than $220 million in settlements with several auto lenders since the agency launched its anti- discrimination crusade against the industry in 2013. Several other banks are under active investigation. That's despite the fact that the CFPB had no actual complaints of racial discrimination--- it was all just based on half-baked statistics.
A 23-page internal report detailing CFPB's strategy for going after lenders shows why these companies are forking over millions of dollars in restitution and fines to the government despite denying any wrongdoing.
CFPB applied the screws to Ally, saying it had statistical evidence showing its participating dealers were œmarking up loan prices for blacks and Hispanics vs. whites (by an average of $3 a month). Ally fought back, insisting non-discriminatory factors, such as credit history, down payments, trade-ins, promotions and rate- shopping, explained differences in loan pricing. After conducting a preliminary regression analysis, the bank found these factors alone accounted for at least 70 percent of the “racial disparities†the government was claiming.
CFPB admits in the memo that it never considered these or other legitimate business aspects of the car deals it investigated
Also in its initial rebuttal, Ally complained CFPB's entire case was based on disparate impact statistics, not actual complaints by consumers, and that those estimates relied on guesswork about the race of the borrowers. (The auto industry does not report borrower race, so CFPB tried to ID race by last name and ZIP code, so-called proxy method that is wildly inaccurate.)
(Excerpt) Read more at nypost.com ...
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