Gambled away in the financial crisis - The Deutsche Bank story | DW Documentary
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- Опубликовано: 1 май 2024
- Deutsche Bank managers driven by greed set it on the wrong track in the 2000s. The collapse played a key role in the financial crisis of 2007/2008. The consequences: billions of Euros in penalties and the decline of a German institution.
The Deutsche Bank, once the flagship of the German economy, had fallen from grace. In the 2000s, the bank was pumped full of risk in the quest for ever greater profits. In their bid to make the institution a global player, Deutsche Bank managers gave their investment bankers a free hand - a move that would end up being a major contributing factor in the financial crisis of 2007/2008. Supervisory authorities are still imposing fines to this day, penalties that now run into the tens of billions.
The victims in all of this are Deutsche Bank customers and shareholders. The share price is hovering around 10 Euros. Twenty years ago, it was around 60 Euros. The documentary shows: The only ones to walk away from this with a good deal were the investment bankers. Many received millions in bonuses year after year, as their greed increased and they paid no heed to the rules and regulations.
#documentary #dwdocumentary #finance
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"Gambled Away" is like literally everyone's (the 99%) health/ education/ finances/ home/ safety/ future, it's the perfect description for this time imo
😂
That's so true...
Don't underestimate the power of responsible decision-making. The collapse of Deutsche Bank is a harsh lesson in what happens when greed takes the wheel.
They were a Nazi bank managed by the bush family
How many lessons do they need to have before greed is not allowed to the wheel?
greed is a good thing for stimulating the economy, and greed may give people an evolutionary advantage (more resources = better chances of survival).
Hasn't greed always been on the wheel in finance?
@@camestha5843 greed always been on the fuel
Less than 1 minute in and the hubris of the Banking Industry is laid bare for all to see.
Most of the banks that I have heard pursuing the aim of being #1 bank in the world have tended to fail spectacularly
I watch the movie the big short regularly as it's awesome. I still can't get over the fact that big banks are so reckless yet don't care as they know they will get away with it.
Yup. The wealthy, powerful, and influential are invulnerable, invincible, and unstoppable. That's why people like Chump, Puton, XiXiPi, and even folks like Mü§k can do absolutely anything and everything... and *always* "win". The rich NEVER "fail". They simply rebrand and steal from everyone they can via a different method. 💪😎✌️ It do be what it do be.
USA too big to fail bailouts 😢
Back then it wasn't at all clear that they would get away with it, that is just something one can say retrospectivly as they defacto got away with it.
@kinngrimm after the financial crisis they carried on selling the same cdo's which caused so much damage but just repackaged them with a new name.
@@davidbridge5652 True and that doesn't deny my point. In 2012 banking regulations that were implemented 2010 because of the 2008 crisis, were taken back. That more than anything tells me that, due to the bailout, the banking industry and their lobbyist only then understood that they can do whatever they want as when they would fail, bailouts would come as they are seen as essential to the system. As with that they can do it again, play russian roullette with the economic well being of nations.
Another great video, thanks
The fact these people were allowed to walk away with their lives have just made everything worse. there was a reason after WWII they hanged collaberateurs
And now they want the normal folk to pay for the recklessness and largesse of these banking corporations by putting us on CBDCs. Makes me so angry.
They didn't hand them all though. This very video points out they hired some to run Deutsche Bank
Blind Greed, inability to see Risk, collapse at the end
And thanks for the Wonderful documentary
The astonishing fact is Deutsche Bank is still at 16$ a share...the price it collapsed to in 2008
Some things just never change
14.99
@@geoms6263 but Germans have that rigid mindset, Deutsche f...g bank eh. All German never fails!
It's a fundamentally bad stock. I just stay away.
Greed, incompetence bailed out by taxpayers. The whole DB board should be in jail.
Love the title
Driven by greed
I knew Kevin back in the day. He wasn't swanning around in Rolls Royces and private jets. He and the team would go to the local pubs after work for a pint or two, then catch a few hours sleep before markets opened the next day. It was not a glamorous life of constant Rock and Roll concerts despite how this documentary would like to frame things! From what I could tell they were driven by their competitive natures (and the aggressive targets set from senior management) rather than an addiction to buying shiny things. They almost all came from upper working class backgrounds and suddenly found this way to apply their minds to something where people benefitted from their intelligence and made them feel successful. Were some of these people dishonest? Hard to imagine that some weren't, but I never heard Kevin say anything that sounded like he was acting against the best interests of his clients or his shareholders.
The distress for banks was a farce; what we have experienced in the past 2 years is a result of a system that has worked incredibly well. The Fed just had to tighten credit to cool the economy.
I was at the Grosvenor that night in 2000 at another function and it's a little strange to watch a random documentary and suddenly understand what was going on that night, it suddenly all makes sense 😅
Economic investigator Frank G Melbourne Australia is still following this content cheers Frank
The money market hasn't been too kind to commoners lately. I feel like I'm not making as much as I could be.
lol, and your ID is a life ins co! so funny.
Germans had an Uber-ego: precision machine building, auto, public services etc. All failing one-by-one. More than anything, they were supposed to be honest in business; but after the VW emission frauds etc even that is floundering
💰💰💰🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸Indeed VW flop is inexcusable as is the Boeing flops with 737 Max 8🇩🇪🇩🇪🇩🇪💰💰💰🇩🇪🇩🇪🇩🇪
Nothing left in Britain to flop, an advantage in a way.
And they still wonder why the chinese are taking over EV industry so fast.
How do you spot a fraudster/grifter/free loader/thief/pirate etc ? They are wearing a suit
sad but true
As of now history is bound to repeat itself. The cycle of growth fueled by greed always ends in a crisis. Hope people are prepared for the inevitable.
Unless you're super wealthy, you *cannot* prepare for disaster. You can only succumb. It is what it is.
Fearmomgering bot 😂
@@Novastar.SaberCombatno, you learn; then short the entire market.
The rich always profits from the fabricated crises.
Currently there is no growth, 3000 companies left Germany for Usa last month... Others are moving to Eastern EU, meanwhile EU is engaging in shooting itself in the foot even more with wild fanatic envoiremental suicide.
RIP Mr.Abe
I lost my ex-gf due to the financial crisis. She is no more. RIP.
Very interesting!
I remember walking by the Deutsche bank from street level and seeing surge suppressors ready to fall from stories above and seeing office furniture scattered everywhere. The building was draped in a green safety screen due to the glass, facade, and floor damage of 9/11/01.
Behaves like African politician. The face of corruption is universal
Amen.
Imagine if he stayed at CS. He could have sunk it instead.
So much has happened since 2010.... not a good point to just suddenly end the doc :(
💰💰💰🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸Indeed VW flop is inexcusable as is the Boeing flops with 737 Max 8🇩🇪🇩🇪🇩🇪💰💰💰🇩🇪🇩🇪🇩🇪
My thought exactly - was looking for Part 2 to finish the story.
@@henryterranauta9100 well Boeing is in my town and it's part of a global duopoly, so it's not comparable to any other biz of any type, from cars to banks. VW has had extreme mismanagement problems for over ten years, including actual criminal acts that led to jail sentences of the executives in the United States, as should have also hapepned in Europe, but did not. Germany and maybe the EU needs to revamp such laws.
Mr. Ackerman acted humble but what he did makes him quilty.
I was cheated by DB. A really bizarre situation. I have the whole correspondance with them... It's going in my biography
'Masters of the Universe ' and 'Bonfire of the vanities' comes to mind immediately-,these traits are intertwined inexorably and make a heady mix. You've got to have the ' right stuff' if you want to excel in investment banking it seems and rules be damned .
Deutsche bank now: their price to book ratio is ,39. Healthy banks have a price to book around 1. A low price to book means that stockholders think the bank is worth less than the bank says its worth. If investers believed the bank, the stockprice would be around €40 instead of its current stockprice 15,26.
💰💰💰Well well well stock generalists invest like sheep herds. Glad to know DB has a lot of room to reach the ideal level of €40. Thanks for helping me to invest in DB shares sooner than later 💰💰💰💰💰💰
@@henryterranauta9100 be carefull, there is usually good reason for a low price to book ratio. Deutsche still has a huge amount of derivatives on its books. Its very hard tp grade them. If you do want to invest in Deutsche, go in slowly. On the other hand, the german state will never let anything happen to Deutsche. Their economy is to dependent on it. Its not Credit Suisse. Thats for sure
fast forward to 2023..hello credit suisse
No hallo
Confirming what I thought of it for a very long time.
Decision making, Deutsche Bank story serves as a stark reminder of the importance of risk management in investment portfolios. It's crucial to diversify and have contingency plans in place.
I worked for several European banks during this period - the time of transition from AAA rated low risk banks to highly ambitious international investment banks. My two cents on this - these banks wanted to have their cake and eat it. They wanted to retain the prestige and customer base that came from having a low risk AAA background, but they wanted the returns that the US banks were getting by taking far larger risks. So they began to take on these larger risks, but did everything they could to retain the veneer of their historically ultra-safe AAA heritage. I even think there was a strong sense of self-delusion about this - the leadership teams really did think it would be possible to square the circle, and when it became clear the downside of the risks were becoming too big to ignore, they carried on trying to ignore it anyway until they eventually detonated in the worst way possible for themselves, their employees and their shareholders. It's as if a company who baked bread decided to change their business to trading BitCoin instead, but continued to portray themselves (externally and internally) as good old-fashioned bakers little changed from the middle ages.
How are these people not gone to prison
From European Carnegi : " Over the decades, regardless of whether the Social Democrats or the Christian Democrats were in government, both parties consistently pursued economic and political relationships with Russia and China. This pursuit was based on national, not European interests. It was motivated by profit, NOT VALUES OR PRINCIPALS. These policies were also naively based on the idea that closer trade and economic ties would lead to stability, even trust." A souless country.
5:25 🇩🇪🇩🇪🇩🇪🇩🇪German Relatives of mine were killed in the Holocaust but I find to blame 🇩🇪🇩🇪🇩🇪🇩🇪🇩🇪DB guilty of it is ignoring the total control the Nazi party institutions overwhelmed power - . IBM supposedly organized the Gestapo files to total overview of then Germany. I won’t blame IBM as being a war criminal. 7:31 Machen Sie Ihren Job oder Dachau!
Thanks DW. The Deutch Bank crisis cuts across all spheres and in this digital era we have to look for the common good for a better tomorrow.
The narrator does a great job but the very loud production music in between the scripts was distracting and in some cases unnecessary. As with the cautionary tale here to would be bankers and risk, tone it down a little!
ohne das Verschulden der Deutschen Bank klein zu reden: wer Ingrid Matthäus zum CEO einer Bank macht und wer die IKB verteidigt hat den Sinn der Marktwirtschaft nicht verstanden: es gibt auch Verantwortung, und die haben weder Ingrid Matthäus noch der IKB Vorstand im entferntesten wahrgenommen.
I hate to speak ill of the dead, but my only interaction with Anshu Jain was when I had a very painful sports injury and was walking along the pavement at a snail's pace at exactly the same time that he wanted to get past me into his waiting limo. I can't forget the look of pure anger and unsympathetic frustration that his gaze sent my way. I don't want to read too much into one encounter, but I've heard similar stories from others. Just an angry, unsatisfied man who saw everyone and everything as an obstacle.
He needs to go somehow!!!! Much love for all who want FREEDOM ❤❤❤❤ Arizona watching, be strong
Just beginning… best of luck
Banks should always be for service such as payslip, transfer, online payment and safety. It can’t be used for gambling unless you have world reserve currency.
Money money, greediness greediness lol
Cheers from lake Titicaca Peru
DW must understand a principle. It's not nice to wash your dirty laundry in public.
So, what to do? keep saying Heil .....?
35:30 no freakin' fuck, you were one of the designers ...
I hate that banks make mistakes are fined and then go on doing the same things! At what point do governments say enough is enough?!
The pointed hairstyle is hilarious...grow up old man 😂
31:09 see the smirk on his face as he describes knowingly selling people junk. These people should have been sent to jail.
Big companies rarely break, governments most time will save them.
27:43 mid 2000s is 2500. how can you write without thinking?
Invest-ment banking can be quite gainful if you know what you're doing, but it also comes with its fair share of risks.
That's true. I've dabbled in invest-ment bank-ing myself, but I prefer to leave the heavy lifting to the professionals.
Could someone fix the English subtitles? They are unusable. Thanks.
that's why you can't trust the banks
The title DRIVEN BY GREED…. I actually thought they were driven by love 😅😅
Recommend "Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction" by David Enrich, published 2021
I am from America. I love germany. I heard west germany (frankfurt, Baden-Wurtemburg) is 10 times rich than east germany (berlin, saxony anhalt). Not sure if it is true, but I have seen houses in east germany that were really cheap.
Oh the Wise one, what is 10 x Cheap houses= 10 cheap houses!
@rrajan5476 No, the houses I saw were so cheap, only 20,000 euro (that 38000 us dollar) In stuttgart I saw house it was 300,000 in china I saw house $30 Million for just 2000 sq foot. You can raise capital like a bank for real estate. However, do you really think real estate is a good investment?
@@Escape_The_Mundaneyou need to normalise currency first. You can compare property prices using local currency. 30m RMB vs 300k West Mark vs 30k Ost Mark. Is all local currency
@Kevin-bl6lg No I said 200 million yuan. That 30 million dollars. It was wenzhu city, zheijiang.
@@Kevin-bl6lg 200 million yuan
31:39 Where Bernie Madoff enters this melodrama ??? Up to end no word about Madoff in this video.
You can't become CEO saying we're going to be the world's 76th largest bank.
DW is doing more Western introspection. Good for them.
Because a plane not make building fall same as that..... better ask honest people about building....heat and impact not strong enough to do that.... maybe
..This not bank or investment... already turn brothel house.....
The issue is also with government(central banks) printing money. Then the banks go where the money is. If not for printing and bailouts, there would not be so much money for banksters to operate on - they would be constrained to peoples money. When you have lack of limits, you have a problem.
Not sure what DW's play is here. DB ended up financing a good chunk of the post-financial crisis recovery & laughed all the way to the 😆 BANK. The US was a bit butthurt by it all.
Risk is the most profitable method of obtaining high returns in financial investment. You must have a high risk tolerance to invest successful. The problem is the amount of risk is never known until the end of the investment term.
What isn't driven by greed?
Being grateful, count your blessings, self transcendence and self knowledge
hate, fear, madness... just to name a few
Of course it was
The take all the risk because they know they know they have golden parachutes when it all goes south !
The WWI and WW2 gloss over is astounding, jfc
The sound qualitey is really terrible. Please re-edit this documentary!
Deutsche Bank has had its hand slapped many many times since that Stones Concert. It’s close to 20 years ago and I wouldn’t put my money there! Their hands are too dirty.
And it was all totally legal in the tax code....
Corruption.
What...😱 Lion share....hope they know what it was...🤔
Yeah...talking about golden goose ....is very very high value in short and long term......if they really generous....can make a deal...that bank...the main bank not small...
50% share sold...and other subjects in bank investment...not just that access to land buying...and other things....final decision of the deal base on our group....other words access to sold...if rejected our deal, we always open for you....(for person or group of people that know about this)..... nothing personal it just a deal....they got my green light to do a deal...... yeah that management must do something about it... change to better management.... yeah will be German man/women....
9/11 ...that some one not paying their debt....
He acts confident and controlled and in reality he was clueless. He is a poor actor.
Trump’s favourite lender. That says it all
Some Brits think Deutsch Bank is like the Bank of England due to its name, and worth pointing out it's not.
Totally missing from this story is the Russian connection, they are still operating there and there might be söme interresting reasons it's the only bank lending money to Trump.
They were not the only bank lending to Trump, and the Russia connection is dwarfed by the Saudi, Qatar and China connections.
Ohh and they have alot of client in south america.
Deutsche Bank is full of Criminals. but its not a political bank.
Why do always the wrong people catch the deadly diseases 🤬
Isn’t it easy to say it’s greed….. kinda convenient. I believe it is stupidity in reality, which in truth is far worse, because so many more people are culpable for that including the regulators the shareholders, the top level politicians and all the elites who are benefiting. The people running these institutions and the others have spent their lives pursuing rewards….. jump thru’s this loop little doggy and we’ll give you this reward. At no stage do they stop to ask why they are doing it and it eventually blows up in their faces……. but the rest of us have to pay.
The concerts are lame, they should have invested all the money in sex parties
The wealthy, powerful, and influential can do whatever they wish. Poor gotta serve, suffer, and submit (schlav3r¥). It's unfortunate, but that's the way it is. #copium
5:01 well, dxmn, I may have to like DB.🤷🏾♀️🤔😌🤌
With all due respect, Germany was and and will probably be ridiculously dumb when it comes to finances and geopolitics. Their EU leadership was absolutely mediocre and Ukraine is paying the price. I’m by no means anti German but it’s is what it is. This nation must not be allowed to be at the helm. They’re hardworking, they deserve all the wealth they’ve made and even more, but leadership? Never.
Crooks
🎉🎉🎉🎉🎉
🤑🤑🤑
i also dont force anyone to buy my shitcoins... different game, similar fates ;) oink oink
E
Maybe this people only good playing racking ball...😂
What they mean.... by power full politics people.....lots of dirt thing...at back...this crap people... politics a round the world is dirty...none of it clean...we just do not know...
Sprechen Sie English?
LOLZ, POINTED NOSES AND BEADY EYES PEEPS 1940S. 😂😂😂.. SORRY I MEANT 🐑 🐏 🐑
The "smart" guys with the huge salaries and bonuses aren't that smart after all. Just a bunch of opportunists without an once of morality. Same old, same old.
Babylon System - it will fall.
Beyonce
A bit biased towards Anshu Jain.. not exactly explained the alleged illegal activities by his department.. rather, it is important to note that he was promoted to Co CEO and was with bank till 2015.. he died of cancer in 2022 so he can't comment.. very easy to blame someone who can't defend themselves.. it is apparent that Ackerman lost billions and paid fines worth dozens of billions but treated him with kid gloves.. guess the skin color is still relevant in Germany..
dont put this in color, no person can be a money machine forever with the same method.
Anshu called me during dinner at home in the weekend to poach me from Merrill. The rumor was that he thought I was the best thing since sliced bread, and they paid me very well, but he treated me extremely badly. (I worked in research) I think he was the worst thing for the culture. Intelligent. But not sure about his character. Character was not rewarded highly in the bank as a whole, but the research department worked very tightly with compliance and did everything by the book, although I can’t speak for the equity research because I don’t know.
Never dismiss the most important color in finance, Green.
This documentary is really bad. Super superficial. Clearly written by someone whp has no idea about banking. Im not defending the banker to be clear.
The points discussed in the docu are sensationalist at best, if not missing the point entirely ...
So … it’s not unlike your arguments? 😂😂
@@TheWeirdResearcher you liked it?
@@TheWeirdResearcher The Docu is HORRIBLE and its clear that the people behind it are stupid.
Yes, Deutsche Bank made some mistakes, but those came AFTER the time periode looked at in this,
Deutsche Bank wasnt greedy in 2008, the government in the US wanted more credits for poor people and no bank wanted those loans in their books, so a handful of private banks like Deutsche Bank had the brilliant idea to bundle those loans. the bundles were mostly sold to very greedy and even more stupid and corrupt government linked basnks and funds. All those Nepotards at Pension funds invested because they wanted higher yields and higher boni without understanding the risks.
Deutsche Bank is perfect example of german economy in general. Once great, now ruined. For most of ppl in eastern Europe, the tales of GREAT Germany was everyday story trough 90's. Now, i consider it for one of the worst countries in the world....
Repent sinners Jesus Christ saves ✝️✅
*Can someone please replace this terrible women narrator?*
Sentences are not emphasised on the last word, nor are compound nouns.
It‘s a desperate way to try to gain attention.
oh ok
such oplulence is ancient history .-... hahahhahahaha , good joke