Deutsche Bank had very aggressive expansion plans back in 2005. In order to meet them, they must have made “agressive” investments and ended up with alot of muck. I’d be wary of them. However they are Germany’s biggest bank and surely come in under the “too big to fail” category. The bigger worry is the price the German taxpayer will have to pay to keep them afloat. Seeing as we’re in a currency union with the Germans, this has to indirectly affect us too.
DB are probably in one of the best positions out there. Last year, they bought a huge liquidty backstop and had everyone laughing at them…Now, now they are sitting pretty and are in a position to be able to buy assets on the cheap…
That’s interesting. I didn’t know that. Must do some research on it. Sounds like it might be a good place to put some money if they will allow me to open a Euro denominated account in Germany as an Irish resident (don’t want any of their Sterling stuff in the UK).
They will but you need to go over there and preferably with a German speaker. They also do retail banking in Spain so that could be an option too but you would need to check out how closely tied they really are.
Thanks for that, I’ll check it out. I can manage the lingo myself. Might be time to plan an early christmas shopping trip to the Fatherland.
Not ideally in the right thread, but Volkswagen is down over 40% this morning after the 200+ to 1000+ rally for the last day or two. I think the CEO is acting in cohoots with Drum and Goggin to rig some european version of the VIX.