The ubiquitous Deutsche Bank announced markdowns of 2.7 billion Euro, mostly (1.77) due to leveraged loans, which are basically loans to already failing companies and individuals. Next time you see a 50 Euro Gebühren line in your account, you know where the money's going to. And that place is exactly where you want to be, too! Why work hard to get milked by an institute like DB, when you can put together a cockamamie company together, get some loans and live off your "salary" until the thing goes tits up and then you can just get your loans marked down, or better, get yet another loan. In the meantime you've secured your savings so you can live off them whilst contemplating how smart a mofo you are.
Stay away and get a descent bank is the preferred option here I guess.
Deutsche Bank marks down 2.7 billion Euros - Germany
Now you know where your bank fees go to
The amount sounds quite moderate to me, when compared to Citibank, UBS, RBS...
for a quarterly?
Yes a tiny sum compared to its peers. Actually Deutsche Bank is considered to be doing rather well - whether it will continue to do so is uncertain.
Source: Bloomberg Deutsche Bank Says It Had First Loss in Five Years
At present the share price is only down 0.5% - if it was really bad news then the share price would have plunged by now.
(By the way where have you been for the last 9 months since the liquidity crisis began?)
QUOTE
Chief Executive Officer Josef Ackermann avoided the worst of the subprime contagion because of early bets against U.S. housing and said today there are ``encouraging'' signs that markets are stabilizing. By contrast, UBS AG, the largest Swiss bank, recorded almost 38 billion Swiss francs ($36.7 billion) of markdowns since July, while Credit Suisse Group last week posted its first loss since 2003 on 5.3 billion francs of writedowns.
...
The world's biggest banks and securities firms have reported credit losses and writedowns of about $312 billion linked to the U.S. subprime meltdown, data compiled by Bloomberg show. UBS, Citigroup Inc. and Merrill Lynch & Co. led banks seeking about $217 billion from investors to replenish capital. Munich-based Allianz said today first-quarter profit fell 66 percent after writing down almost 900 million euros at the Dresdner Bank unit.
...
The world's biggest banks and securities firms have reported credit losses and writedowns of about $312 billion linked to the U.S. subprime meltdown, data compiled by Bloomberg show. UBS, Citigroup Inc. and Merrill Lynch & Co. led banks seeking about $217 billion from investors to replenish capital. Munich-based Allianz said today first-quarter profit fell 66 percent after writing down almost 900 million euros at the Dresdner Bank unit.
Source: Bloomberg Deutsche Bank Says It Had First Loss in Five Years
At present the share price is only down 0.5% - if it was really bad news then the share price would have plunged by now.
(By the way where have you been for the last 9 months since the liquidity crisis began?)
All banks are crooks, same as insurance companies, but are you saying you pay €50 a quarter bank charges? Because that's double what I pay with Deutsche Bank.
QUOTE(Allershausen @ Apr 29 2008, 12:20 pm) 
but are you saying you pay €50 a quarter bank charges? Because that's double what I pay with Deutsche Bank.
That's sounds a lot. I only pay €14.97 per quarter for the dbAktivKonto.
Yeah, Deutsche bank is far from the cheapest, but €50 is well over the top.
Actually I've just checked and I've got a Plus konto, which was good when I was married as it gave a "free" second card plus a few other things, but now an Aktiv konto would make more sense, I'll have to look into changing it.
Actually I've just checked and I've got a Plus konto, which was good when I was married as it gave a "free" second card plus a few other things, but now an Aktiv konto would make more sense, I'll have to look into changing it.
OK, so Deutsche Bank has lost some money, but according to the press they may be buying Citibank's German operations
http://www.bloomberg.com/apps/news?pid=206...p;refer=germany
if you want cheaper fees, use the Sparkasse.
http://www.bloomberg.com/apps/news?pid=206...p;refer=germany
if you want cheaper fees, use the Sparkasse.
Nah, the 50 Euroquid was really sucked out of my thumb, we took our meager means out of that bank a long time ago and went for something that more suited our economy - Sparda München, 0€ Girokonto and all.
Yeah, usually I don't follow economy news, this item made a front page somewhere I read and I thought it'd be relevant, plus a golden opportunity to slate them for being legalized thieves.
Yeah, usually I don't follow economy news, this item made a front page somewhere I read and I thought it'd be relevant, plus a golden opportunity to slate them for being legalized thieves.
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