Posts tagged "bailout"
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}
When will Deutsche Bank stop frittering away its capital?

When will Deutsche Bank stop frittering away its capital?

Last week, an article by Antoine Gara in The Street.com argued that Deutsche Bank should cut its planned dividend payments for 2013.  Recall that the bank has set a payout of €.75 per share, which the article notes exceeds the bank’s profits last year. Meanwhile, the bank’s recent earnings revision, which came about as a result of its decision to set aside an additional € 600 million for anticipated settlements of mortgage litigation and the Iran sanctions and LIBOR investigations, caused the Tier 1 capital ratio to fall from 8.0% to 7.8%.  According to Gara: Although Deutsche Bank could have minimized the capital hit of its earnings revision by cutting the dividend, the bank remains committed to a payout that would be unlikely to pass the Federal Reserve’s muster in the United States. Deutsche Bank’s rising legal costs and signs that regulatory probes may soon hit the bank’s pocket book... {read more}
Be Careful What You Wish For

Be Careful What You Wish For

In April 2012, Deutsche Bank submitted comments to the Federal Reserve recommending that U.S. subsidiaries of foreign banks be categorized as “intermediate holding companies” (IHCs) and remain exempt from the capital and liquidity requirements of Dodd-Frank. As we pointed out at the time, this proposal might have been the only way for the bank to reap the benefits of the recent reorganization of its U.S. holding company Taunus, which had been undertaken explicitly to avoid the capital and liquidity rules mandated by the Collins Amendment.  By deregistering Taunus as a bank holding company in February 2012, the bank had perhaps postponed its day of reckoning with the Collins Amendment. {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}