Category: 2016

The Ridgewood blog found it more interesting the 30 years in politics and this is who Hillary Clinton singled voluntarily out without being asked .

Angela Merkel could use some friends about now , like Clinton’s immigration proposal  Merkel has continued to defend her decision to admit more than a million migrants to Germany last year has left her increasingly isolated from other leaders coping with anti-immigrant, anti-Muslim sentiment in their electorates, especially after terrorist attacks.

Worse yet ,Merkel also currently finds her self in “deep do do” as fears of a Deutsche Bank collapse have rattled financial markets across the globe. Under capitalized Deutsche Bank shares were hit first by a demand for up to $14 billion from the U.S. Department of Justice for mis-selling mortgage-backed securities, then a reported Berlin lead rescue plan seemed tenuous at best.

In Italy six current and former managers of Deutsche Bank, including Michele Faissola, Michele Foresti and Ivor Dunbar, were charged in Milan for colluding to falsify the accounts of Italy’s third-biggest bank, Monte Paschi (which itself is so insolvent it is currently scrambling to finalize a private sector bailout) and manipulate the market. Two former executives at Nomura Holdings Inc. and five at Banca Monte dei Paschi di Siena were also charged.

On September 24th Chancellor Angela Merkel ruled out any state assistance for Deutsche Bank AG in the year heading into the national election in September 2017, a magazine called Focus magazine reported.

So does this imply that Deutsche Bank’s likely recapitalization effort while asking German Tax Payer Bailout or German Bank Depositor Bail-in? Let face it ,Deutsche Bank is going to need some money ASAP. Remember in a concerted effort to reduce or potentially eliminate the risk of taxpayer-funded bail-outs of European banks, the EU implemented a new “bail-in” regime beginning on January 1, 2016.

Or perhaps her new friend Hillary Clinton will come to the rescue with some kind of a US sponsored US taxpayer subsidized bailout?

It is not so far fetched with the Obama Administration setting the precedent with the Iranian payoff earlier this year.