Monday, October 10, 2016

All the same, and the Deutsche Bank is the most equal of all – Journal News

“The size didn’t save the dinosaurs from extinction.” These were the words used by the person in charge of the supervision of the German Central Bank to refer to the fragile situation of the Deutsche Bank. From the historical point of view, the statement is factual, but does not seem to be the intention of the institutions of the German and european watch this end.

John Cryan, the CEO of Deutsche Bank, wrote weeks ago a touching letter in which he explained to the thousand workers in the process of dismissal that the bank was the target of “speculation” and the victim of a “perception ” distorted”. It is ironic, at a minimum, taking into account that the main activity of this bank has been… to speculate. To speculate on agricultural goods, with public debts, with interest rates. To speculate without looking at the rules and the consequences.

This is, in fact, one of the reasons of the fall the pike of the value of the bank on the stock exchange. In question is a penalty required by the north american State in the amount of 14 billion dollars for irregularities in the marketing of complex financial products.

The German Finance minister, always so concerned about disciplining the incumpridores of the South, seems to have no problems in blending a few strings to get away with the Deutsche Bank of the fine due. More, after you have made several statements incendiary about the Portuguese situation, the same lord Schäuble is now complaining that he speaks too of the Deutsche Bank.

To the end, as always, is the icing. It is not that the European Central Bank, the harbinger of the intransigence, responsible for such disasters as the outcome of the Banif or blackmail against the Greek Government, decided to give an borlazinha to Deutsche Bank? To help the German bank in the stress tests, the ECB has accepted to account for capital gains from a major operation that had not yet been completed.

the Bank or the Government, in this Union are all the same. Deutsche Bank is the most equal of all.



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