We’re on the Cusp of Repeating the 2008 Financial Crisis

Jon Economy, Government, Market Commentary, Real Estate

Market panic over Deutsche Bank AG(NYSE: DB) reached a fever pitch this week as the stock slumped 10% from $13.17 on Monday morning to $12.13 today (Wednesday). It’s currently sitting at its lowest level in more than 20 years. In fact, today’s DB stock price is 51% less than its lowest price during the 2008 financial crisis (which was $24.58).
Of course, investors are worried the bank may not be able to afford the massive $14 billion fine the U. S. government imposed on it Sept. 16 for trading in toxic mortgages a decade ago.
But earlier today, Christine Lagarde, the managing director of the International Monetary Fund (IMF), assured global media that she doesn’t believe DB will need a bailout.

This post was published at Wall Street Examiner by Money Morning Staff Reports ‘ September 28, 2016.