Deutsche Bank Plunge Sparks Talk of ‘Lehman Moment’

‘Shares in Deutsche Bank plunged yesterday in the wake of reports in a German news magazine that Chancellor Angela Merkel had ruled out assistance to the bank following the imposition by the US Department of Justice (DoJ) of a $14 billion fine over its dealings in the sub-prime mortgage market leading up to the financial crisis of 2008.
On Friday Focus, a weekly magazine based in Munich, reported that Merkel had categorically stated the government would not step in, citing unidentified government officials and that the chancellor had made her views known in discussions with the bank’s CEO, John Cryan.’
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