iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
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Peabody on Deutsche Bank’s Derivative Book: ‘I Defy Any Analyst to Tell Me What That Portfolio is Worth’

In spite of the fact that Deutsche Bank is not Lehman and the fear mongering of last week being nothing more than a hedge fund conspiracy theory concocted by assholes, there are some very staid individuals who have questions regarding Deutsche Bank’s $50 FUCKING TRILLION in level 3 assets. For those of you who partook in the 2008 crisis knows that whenever level 3 assets get called into question, there is a lot more fuckery to come — just around the bend.

Charles Peabody tries to make sense of the whole mess, but simply cannot — since the big, dumb, German bank’s derivative book is wrapped in a wreath of black smoke — surrounded by bald headed, big mouthed, body guards (extra Cramer).

 

Always remember, Deutsche Bank isn’t Lehman. Ergo, everything will be fine.

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20 comments

  1. matt_bear

    the financial house is large. what’s wrong with one junk drawer (DB) so the rest of the house looks tidy?

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    • brvalentine

      DB is no lonesome dove. There are several, including US Money Centers.

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  2. en1gma

    A few trillion here and a few trillion there, pretty soon you’re talking about real money.

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  3. stockslueth

    It sounds like DB needs some deep pockets, otherwise they are going to just crawl along (best case) until they can reduce their leverage.

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