A BANK WITH $49 TRILLION IN DERIVATIVES EXPOSURE IS MELTING DOWN BEFORE OUR EYES | WHAT REALLY HAPPENED

A BANK WITH $49 TRILLION IN DERIVATIVES EXPOSURE IS MELTING DOWN BEFORE OUR EYES

SOURCE: ZEROHEDGE

Authored by Michael Snyder via The Economic Collapse blog,

Could it be possible that we are on the verge of the next “Lehman Brothers moment”?

It takes a lot to rattle Wall Street.

But Deutsche Bank managed to. The beleaguered German giant announced on July 7 that it is laying off 18,000 employees—roughly one-fifth of its global workforce—and pursuing a vast restructuring plan that most notably includes shutting down its global equities trading business.

Though Deutsche’s Bloody Sunday seemed to come out of the blue, it’s actually the culmination of a years-long—some would say decades-long—descent into unprofitability and scandal for the bank, which in the early 1990s set out to make itself into a universal banking powerhouse to rival the behemoths of Wall Street.

These moves may delay Deutsche Bank’s inexorable march into oblivion, but not by much.

And as Deutsche Bank collapses, it could take a whole lot of others down with it at the same time. According to Wall Street On Parade, the bank had 49 trillion dollars in exposure to derivatives as of the end of last year…

Webmaster's Commentary: 

This well could have a "domino effect" on US financial markets; the only question left now, is; when?!?

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