I’m sure you’ve all heard about the issues surrounding Deutsche Bank, well it is looking ever more likely that the massive job cuts being proposed will be signed off. Deutsche Bank is on the brink of ruin, the question is can they pull this card without collapsing the rest of this very fragile house.
An economic collapse of epic proportions is imminent, most respected economists agree on this – what we don’t know is when this collapse will occur.
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Dark clouds have been looming as Deutsche Bank staff are bracing themselves for one of the most severe job culls in banking since Lehman Brothers collapsed a decade ago with the German lender’s board set to approve plans to shed tens of thousands of people and more than €50bn of assets.
This could lead to the biggest stock market crash in History as the global financial system is very vulnerable, global stock markets are on all-time high and we are in the biggest bubble in the history of mankind. The things are happening in with Deutsche Bank is a serious economic collapse warning sign.
Deutsche’s investment banking chief Garth Ritchie has gone from Deutsche Bank, and Christian Sewing’s plan to make 15,000 to 20,000 job cuts across the bank looks increasingly like a done deal. On Sunday, the board seems likely to rubber-stamp the proposed reorganisation, which would see up to 50% of jobs in the corporate and investment bank disappear.
On Monday, it will all begin. Many experts sounding the alarm about the economic collapse that Deutsche Bank could cause in the near future. “You could see Lehman-style scenes outside Deutsche Bank on Monday,” says one recently ex-managing director from the German bank, referring to the staff who streamed out of Lehman with their posessions in boxes in 2008. “It’s very sad what’s happening.”
Renaissance Technologies, the hedge fund giant that Deutsche Bank AG has counted as one of its largest clients, has been taking money out of its prime brokerage accounts with the German lender over the past few months, according to people familiar with the move. Hedge funds have been migrating away from DB for years. Representatives for Renaissance and Deutsche Bank declined to comment.
Many important chiefs, manager, trader are leaving Deutsche Bank and this also a big warning sign that Deutsche Bank Collapse Has Begun -if things will getting worse, this could lead to a major stock market crash and in worst-case scenario: economic collapse.