Markets today celebrated more bad news out of Germany. Misunderstanding especially in stocks is par for the course, not that it’s much better outside of them. German officials are laying the groundwork to change the nation’s banking laws so that it’s two largest banks, really “banks”, can more easily combine. If it should ever come to that. The major sticking [...]
Since rumors of a much lower DOJ settlement went viral last week, Deutsche Bank stock has rebounded. From a low of $11.48 last Friday, the stock was trading today above $13. This isn’t, of course, indicative of an end to all woes for the German bank, merely the latest is a long line of temporary reprieves. The problem for Deutsche [...]
On August 31, 2008, Germany’s Commerzbank announced that it was purchasing ailing rival Dresdner Bank from Allianz SE. As usual, however, the deal wasn’t described in those terms as nothing ever is so honest in public. Then-Allianz CEO Michael Diekmann said at the time of the announcement: As a strong bank, the new company can safeguard jobs in the long [...]
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