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To Profit From Deutsche Bank’s Trouble, Short the US Fin Sector, Says Fitz-Gerald

Friday, September 30, 2016 11:10
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(Before It's News)

wallstreetexaminer.com / by Keith Fitz-Gerald via Money Morning / 

The U.S. Department of Justice announced it’s seeking a record $14 billion penalty against Deutsche Bank in relation to mortgage securities fraud in the run up to the global financial crisis that’s roiled markets since 2007.

The U.S. Department of Justice announced it’s seeking a record $14 billion penalty against Deutsche Bank AG USA (NYSE: DB) in relation to mortgage securities fraud in the run up to the global financial crisis that’s roiled markets since 2007.

Another naughty bank, another big fine. Regulators quietly charge banks and financial institutions with rules and policy violations all the time. Most of them are settled just as quietly after a bunch of legal wrangling, without causing so much as a blip in the headlines.

So what’s the big deal?

Well, Deutsche Bank is facing a $14 billion fine at a time when the bank has “litigation reserves” of just €5.5 billion ($6.17 billion). It simply doesn’t have the cash on hand to pay just the penalties sought by U.S. regulators as it stands today.

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The post To Profit From Deutsche Bank’s Trouble, Short the US Fin Sector, Says Fitz-Gerald appeared first on Silver For The People.

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