What a strategic mishap -35000 jobs gone and operations to cease in 10 countries. No dividend likely soon as the bank rakes in losses .
It has been the quintessential German bank. Suddenly , like the German car maker caught on manipulating emission systems, this bank is caught up with accusations of fixing Libor to laundering.
So the Teutonic business culture permits under hand deals. Corruption which should include "valuesless" management and dishonesty is then not a 3rd world phenomenon. Lack of values thrives in German management systems; it appears from these 2 recent occurrences.
Competitive ruts where compensation are on ratchets.Are we seeing only tip of iceberg.May be the Libyans of Gaddafi era have friends in Frankfurt too. Who knows. History and tradition seem to challenge the edifices ;it looks like the debits have it.
It has been the quintessential German bank. Suddenly , like the German car maker caught on manipulating emission systems, this bank is caught up with accusations of fixing Libor to laundering.
So the Teutonic business culture permits under hand deals. Corruption which should include "valuesless" management and dishonesty is then not a 3rd world phenomenon. Lack of values thrives in German management systems; it appears from these 2 recent occurrences.
Competitive ruts where compensation are on ratchets.Are we seeing only tip of iceberg.May be the Libyans of Gaddafi era have friends in Frankfurt too. Who knows. History and tradition seem to challenge the edifices ;it looks like the debits have it.
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