Deutsche Bank Plunge Sparks Talk of “Lehman Moment”

The redemption of the people will finally happen when Babylon falls for the last time; and, nothing short of a debt jubilee and set-off will balance the books again; and, to this they cannot and will not concede; it is their arrogance that will be their downfall; just as in the time of Isaiah; history repeats itself; in peace

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Global Research, September 27, 2016
World Socialist Web Site 27 September 2016

Shares in Deutsche Bank plunged yesterday in the wake of reports in a German news magazine that Chancellor Angela Merkel had ruled out assistance to the bank following the imposition by the US Department of Justice (DoJ) of a $14 billion fine over its dealings in the sub-prime mortgage market leading up to the financial crisis of 2008.

On Friday Focus, a weekly magazine based in Munich, reported that Merkel had categorically stated the government would not step in, citing unidentified government officials and that the chancellor had made her views known in discussions with the bank’s CEO, John Cryan.

Deutsche Bank shares plunged 7 percent, falling to their lowest level since 1983 despite a statement by Cryan that the bank had not sought government assistance in its negotiations with the DoJ. Shares in…

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