Deutsche Bank has fallen facedown, but this time, no one’s there to pick it up.
Working to avoid the mistakes of 2008’s financial crisis, German lawmakers have stated that should Deutsche Bank and other major players in the financial arena go under, bailouts will not be delivered post-haste.
The bank has been traveling through dark waters for some time. As far back as July, analysts have been predicting a financial meltdown of sorts, and despite the bank’s best efforts to cut costs and relieve its mounting monetary burdens, net profits dropped by nearly 98 percent in just the last two months alone. Now the company is looking to reach a much-needed settlement with the U.S. Department of Justice, which is imposing a hefty $14 billion fine on the bank’s head. Executives are also pushing a plan that could see up to 1,000 employees jobless by the end of the year.
In another case where fiat currency has come crashing down, many are looking at bitcoin as a potential solution. Naturally, there are opponents to this argument. General sentiment within the EU is that bitcoin and similar currencies are used to fund terrorism, and regulators have since sworn to