This is a syndicated repost published with the permission of Confounded Interest. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.
Watching the giant German banks, Deutsche Bank and Commerzbank, are like watching the “Bangers” in the Bob Hoskins film “The Long Good Friday.” That is, a demolition derby.
Today, both Deutsche Bank and Commerzbank fell to all-time lows.
Here is a view from 1989. While Commerzbank rallied back after the financial crisis “ended,” both Deutsche Bank and Commerzbank have not recovered.
On the US side of the Atlantic, the top 4 banks (Wells Fargo, Bank of America, Citi and JPMChase) all have experienced a bad day after the news about Wells Fargo keeps getting worse.
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