Gambled away in the financial crisis - The Deutsche Bank story | DW Documentary
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Published 2024-05-02
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.
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All Comments (21)
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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
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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.
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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
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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.
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Blind Greed, inability to see Risk, collapse at the end And thanks for the Wonderful documentary
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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 😅
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Another great video, thanks
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Greed, incompetence bailed out by taxpayers. The whole DB board should be in jail.
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The astonishing fact is Deutsche Bank is still at 16$ a share...the price it collapsed to in 2008 Some things just never change
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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
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Economic investigator Frank G Melbourne Australia is still following this content cheers Frank
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Love the title Driven by greed
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The money market hasn't been too kind to commoners lately. I feel like I'm not making as much as I could be.
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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
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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.
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How do you spot a fraudster/grifter/free loader/thief/pirate etc ? They are wearing a suit
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RIP Mr.Abe
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Very interesting!
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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.
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So much has happened since 2010.... not a good point to just suddenly end the doc :(
