It couldn’t happen to a nicer bunch of Nazi bastards….
Deutsche Bank announced the firm’s biggest quarterly loss in at least a decade and may eliminate a dividend that’s stood since Germany’s postwar reconstruction as he tries to overhaul the firm without asking shareholders for more capital. Europe’s biggest investment bank expects a third-quarter loss of €6.2 billion ($7 billion) after writing down the value of its two largest divisions and boosting reserves for legal costs. Its American depositary receipts (NYSE:DB) tumbled 6.9% after the disclosure, to $26.98 in after-hours trading. GEI contributor Rick Ackerman says that DB has a 70% probability of dropping to at least $9.10 and has the possibility of going the route of Lehman Brothers.