Remember when it was mentioned that Donald Trump’s bank was Deutsche Bank, because no US bank wanted to touch him? Now the DOJ wants to hit Deutsche Bank $14 billion for their part in the subprime mess-and Deutsche is balking?
Well, Deutsche is seriously impaired compared to the other banks (their stock has been on a freefall since Brexit)-but Vox dropped this little tidbit….
Deutsche, for its part, is flatly rejecting the $14 billion price tag. “Deutsche Bank has no intent to settle these potential civil claims anywhere near the number cited,” it said in a statement. A source told the Journal that it expected to pay somewhere closer to $1.9 billion.
Another possibility, which Coffee warned me not to discount, is that Deutsche is simply waiting for the US election to end — on the hope that a Donald Trump presidency, unlikely as it may seem, might drop the case entirely.
Things that make you go hmmm…