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In the Deutsche Bank case study, the Report focuses on the bank's top CDO trader, Greg Lippmann. He warned colleagues that the RMBS and CDO securities were "crap" and "pigs" and could make money taking shorts against them. He predicted the securities would lose value and called the financial industry's CDO operation as a "ponzi scheme."
After 3 years, both banks were put into bankruptcy, a new nationalized bank was created and the assets of the two bankrupt banks and the bank accounts of local account holders were transferred to the new bank and the local depositors were made whole by stealing about $180 million of money belonging foreign depositors, who lost their entire savings.
The European STOXX 600 index fell around 4% with shares in Deutsche Bank down more than 14% at one point, closing the day at a loss of around 8%. [130] The UK's banking index also fell around 3% led by falls of around 6% for both Barclays and Standard Chartered and a 4% drop for NatWest.
The Gladbeck hostage crisis or Gladbeck hostage drama was a bank robbery and hostage-taking that took place in northwestern West Germany from 16 to 18 August 1988. Two men with prior criminal records – Hans-Jürgen Rösner and Dieter Degowski – robbed a branch of the Deutsche Bank in Gladbeck, North Rhine-Westphalia, taking two employees as hostages. [2]
During his first year at Deutsche Bank, Weinstein netted significant gains for the German bank during the chaos created by Russia defaulting on its loans and the collapse of Long-Term Capital Management, [12] a hedge fund that was heavily leveraged. [13] He was promoted to vice president of Deutsche Bank in 1999. [14]
From 1929 to 1937, following its merger with Disconto-Gesellschaft, it was known as Deutsche Bank und Disconto-Gesellschaft or DeDi-Bank. [3]: 580 Other transformative acquisitions have included those of Mendelssohn & Co. in 1938, Morgan Grenfell in 1990, Bankers Trust in 1998, [4] and Deutsche Postbank in 2010.
As of September, Christian will spend 15% of his monthly net salary buying the German lender's shares as part of his efforts to revive the bank's profitability. [11] Sewing was the head of Deutsche Bank's audit division during Deutsche Bank's $10 billion money-laundering scandal involving its Moscow operations.
Alfred Herrhausen (30 January 1930 – 30 November 1989) was a German banker and the Chairman of Deutsche Bank, who was born in Essen and assassinated in Bad Homburg vor der Höhe in 1989. [1] He was a member of the Steering Committee of the Bilderberg Group [ 2 ] and from 1971 onwards a member of Deutsche Bank's management board.