Posts tagged "AIG"
UNITE HERE Urges the Deutsche Bank Championship to ensure foreign players play by the same rules as U.S. players

UNITE HERE Urges the Deutsche Bank Championship to ensure foreign players play by the same rules as U.S. players

  Washington, D.C. – On the eve of the Deutsche Bank Championship, a PGA Tour Playoff event held at TPC Boston in Norton, Mass., UNITE HERE calls for tournament officials to ensure that foreign players play by the same rules and are held to the same standards as U.S. players. “We all believe in fair play and a level playing field,” said UNITE HERE spokesperson Marty Leary. “Therefore, foreign players should be required to compete at the Deutsche Bank Championship under the same rules as American players. For example, foreign golfers should be given no more mulligans than American golfers. In fact, no player should be handed any mulligans and get bailed out from their own bad decisions and poor play.” {read more}
Ackermann’s last call: No More Government Money for DB, (unless it’s lucrative and secret)

Ackermann’s last call: No More Government Money for DB, (unless it’s lucrative and secret)

Update: On March 8, 2012, the Financial Times reported that Deutsche Bank “had taken at least €5bn-€10bn of LTRO money in the February auction.” According to the report, Deutsche “tapped a large portion of the funds via its subsidiaries in Spain and Italy.” {read more}

Deutche Bank’s Ackermann pledges to do “everything in our power” to avoid a forced recapitalization

Last week was a tough week for Deutsche Bank, its too-big-to-fail peers and European finance officials. On Tuesday Silvia Quandt Research analyst Michael Rohr told Dow Jones that Deutsche Bank would face a capital shortfall of more than EUR9 billion if it wrote down its sovereign debt exposure to market value and was expected to hold core Tier 1 capital of at least 10% under Basel III banking rules. [1] On Thursday, Credit Suisse put out a report claiming that as many as 66 European banks could fail new supposedly-tougher stress tests (based on Basel III definitions of capital), with RBS, Deutsche Bank, and BNP needing the most capital – at €19bn, €14bn and €14bn respectively.[2] Then ratings agency Fitch piled on, putting a number of those banks, including Deutsche Bank, on negative watch “as “the ongoing Eurozone crisis continues to feed intense market speculation regarding the potential for bank... {read more}
Is Deutsche Bank’s Ackermann "one of the most dangerous bankers in the world?"

Is Deutsche Bank’s Ackermann “one of the most dangerous bankers in the world?”

Last April, MIT professor and former IMF economist Simon Johnson called Deutsche CEO Josef Ackermann “one of the most dangerous bankers in the world.” Johnson, who made this remark in an interview with the left-leaning German daily Die Tageszeitun, singled out Ackermann because of Deutsche Bank’s longstanding profit target of 25% return on equity, and because of what he called “excessive risk taking” by the bank. {read more}