Financial Review cites Paul Schulte, the Chief Executive of SGI Research, who warned that the bank is not only sitting on a mountain of bad assets dating from the previous crisis, but is holding "a large book of commodity-related derivatives that are under stress from the collapses in most commodity prices." (Oh, really! Everyone knows that Deutsche Bank has the world’s largest portfolio of derivatives.)
Deutsche Bank is not alone, opines Schulte: "This has been brewing under everyone’s nose, because while people thought that the problem was periphery banks in Ireland or Spain, the actual problem is that Deutsche Bank, and the French banks with lots of toxic debt in commodities, are over-stretched; badly run; have no sense of risk management, and are organs of state capitalismo."
EIR
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