Gambled away in the financial crisis - The Deutsche Bank story | DW Documentary

You can tell a lot of research went into this. Very well done

Joseph Ackerman demonstrates how a regulated free market economy can be fun when corporate profit is shared into local financial systems and commerce. I'm sure the ethical nature of the banks remuneration packages is well supported by regulators lucky enough to be invited to the party when seated next to his wife

If I rob a bank I go to prison. If I own a bank I get to rob the public at will and get stinking rich.

I've worked in finance most of my professional life and I can tell you that finance professionals don't give two hoots about their clients. All that matters to them are the bonuses and if it means to throw their clients under the bus, they won't hesitate to do so if it means getting a bigger bonus.

PS. I warned the company I worked for that a crash was looming in 2007 since I saw that buyers were withdrawing and on top of that the banks began withdrawing refinancing offers. Instead of listening, the management kept on expanding. Ooooops.

Germany sacrificed its youth for the sake of having a consumer base in the 80s and 90s. Now it is time to face the reality of not having any children

Sputnik was launched in 1957, not 1954

Greed is good until it isn’t

Deutsche Bank under the AATIF fund defrauded farmers in Sierra Leone. They stole money ment for development under technical assistance from the Common Fund for Commodities. Investors filed a criminial case in 2024.

All these over paid bankers & their shareholders are no different from casinos operators they just want to rake in huge profits at the expense of the poor & average Joes be damned 😳

28:30

Crazy footnote: FDR’s grandfather, Warren Delano II, ran Russell & Co. in Canton—and after the Panic of 1857 wiped him out, he went back to China and re-made the family fortune in opium. That money later helped launch FDR’s elite education and political career.

Maybe stop giving holocaust pensions

I read it wrong first,douche bag😂 it's Deutsch Bank, no much difference tho😅

13:00 The "peanuts" incident - wasn't it J.Ackermann to call it "peanuts"?

When I was young, words like good, solid, safe and careful were used to describe Deutsche Bank.

Wow, so basically they played Monopoly with real money and lost? 😂 Typical! 💸📉

Germany's financial system is too concentrated.

TEFL has its perks; I say no more.

Josef Ackermannn was the PROBLEM and he stayed for too long as CEO and chair of Deutsche Bank -from 2002 to 2012

28:52 I don't know about before 2011 but when I became a HUD trained volunteer home retention counselor using HAMP modifications I knew if Deutsche Bank owned or had a majority interest in my client's mortgage loan and if my client paid the trial modification payments in full and on time they would get approval for the final modification. That wasn't so with other Lender's and Servicer's. In other words Deutsche had no parameters and didn't care if the borrower was +30% on equity side or - 30% in equity they just agreed with the HAMP program guidelines ( Waterfall ) concerning approved monthly payments. ☆ I had one family who had 26 more years to pay on their 30 year note. It was a subprime loan probably approved because they borrowed 198K on a home & land worth 1.25M minimum. They took out the loan to pay for taxes owed from property inheritance and minimal updates. Their monthly payment was $1710 including escrow. Based solely on their then income and other debts using HAMP guidelines the modified mortgage was for a total of $205K ( yes, more than the original note because it was only 4 1/2 years old and they incurred late fees, pre-foreclosure fees, and actual foreclosure fees ). The Lender ( Deutsche ) wouldn't agree to extending the length of the loan but the modification for 25.25 years made their principle & interest $428 plus $328 escrow totaling $756 mortgage payment from previous $1,710. They got a 2% flat rate and when the life of the loan ends they'll have a balloon balance they'll either have to pay off or refinance. Based on their original modification the balloon payment would have been a little more than 120K in 11/2037 but through HAMP they got $1,000 in principal reduction every year for the first 5 years for on time and in full payments plus an additional $5,000 was later granted after an additional 6th year of on time payments. The reason for the $120K balloon estimate is those incentives weren't factored in but the more vital reason is to qualify for HAMP the Lender agreed to place $44,400 inside the modification as a 2nd mortgage they never had to pay any principal or interest on....ever. Right now they could pay off their mortgage fully but why should they ? They still have 12 years at 2% and they can easily make 5% on the balance by just investing that money in safe insured laddered CD's. Today including 2nd mortgage they owe 139K on a piece of property worth minimally 5.5 Million dollars ( because the town is growing to meet their land and developer's are dying to get their hands on it ). I would say every US Lender would not have agreed to such a sweetheart deal for the equity rich but monetarily poor borrowers and they were fortunate Deutsche was the Lender who got stuck with their non conforming loan. By the way, their mortgage payment today is $890 up $134 because taxes & insurance increases meaning their monthly escrow payment is higher than their principal & interest payment plus the current projected balloon payment is 88K. They're kinda stuck because the edges of their property ( road frontage) is the most sought after and the vast majority of the value of the 13.08 acres and each time a neighbor sells their property goes up in value so it's a good kinda stuck. They also have the tax advantage of a one-time capital gains exemption after age 55 where when the sell they can keep all the proceeds tax free. That's as sweet as it gets.

Ackerman seemed like a narcissistic moron to me. He claims the bank was well prepared for the economic crisis of 2008 but needed tax payer bailout.

The Gfc has done irreparable damage to the world

Capitalism... M. Freedman. "That market regulates itself"? Hate those banking institutions! Scam! Greed! Coming to taxpayers begging fir bailouts! F- criminals is what they are! Billions of people have no trust in these Greedy banks! 0% but still we are like slaves under them! I am happy for new cheap fintechs who is slowly changing this,but will it last? Prob. Not!

Morning Class! Quando nos vamos entrar nas Fabricas da Mercedez instalar um Banker do Deustch?

have you gotanything on spa ce

They also had to wright-off a loan to Donald Trump at around the time this Documentary finishes , for a building in Chicago. He refused to repay the loan and threatened to sue them, so they just wrote it all off.

❤❤❤🎉🎉🎉

You should do an investigative documentary on VINOD SEKHAR of Malaysia. Nowhere near as successful or as smart as JL but by far more interesting on a psychological level. Google him and you will probably only find glowing (paid and placed) stories. But it doesn’t completely cover up his many legal lawsuits, his unfulfilled business promises, the long list of unpaid bills by his PETRA group of companies, the evictions, bankruptcy and his distortion of facts. Start with how he claims to have made hundreds of millions selling ventilators to the Hungarian government during Covid

Nevím proč neměla existovat strana jako v Europe AFD v Sýrie Lybie Africe Afgánistán

Fraud bank

I Will Never Watch Twitch Again

Why don't govt Nationalis these banks ?

These documentaries always make me smile... Especially the comments of the 'good' people. They clearly do not know a lot about people. And let's never forget: it is all relative...

I thought of this in 2002 in San Diego when I saw the Tijuana Cartel making billions and wondered to myself "how can I spend and enjoy this money" given Al Capone had gone to Alcatraz Prison in about 1929 for TAX EVASION!

Was that tax lose IRS Tax Forms an attempt to defraud the governments of Germany and The United States of tax revenue?

Clean your money at he Cosmopolitan: LOSE ON PURPOSE BY MAX BET AS FAST AS POSSIBLE ON THE MOST DIFFICULT BETS TO ACHIEVE MATHEMATICALLY!

UNTUK LAYANAN KEBUTUHAN PANGAN..
SAYA KITA HANDLEHRS BAIK FRUEND CHIS SNELL...
YUEAL KNOH MCD.EFC ANH ETC ..
THAT WEEE GET GODH STRUHCTH..
CLOS MOSHHHH..
KARENA SYSTEMH...
HALAL MEREKA BAHAYA...
BERHUJUNGH ANARCHY..RAMFOKHHH

Wait. There’s no discussion of the extremely risky business with Donald Trump. Or the allegations of money laundering. Trump owed the bank a billion dollars he couldn’t pay. So he went to a different part of the bank and borrowed a billion to pay the other part of the bank.

I could have grabbed Mick Jagger's.. foot. :)

He called mistakes to his crimes.

Savers' deposits are backed by the tax payers money, such an amazing system.

the funny thing is that with all their shenanigans, DB was never really profitable compared to its peers.