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How a Pillar of German Banking Lost Its Way
Article

How a Pillar of German Banking Lost Its Way

The Deutsche Bank Downfall

Der Spiegel, 2016

автоматическое преобразование текста в аудио
автоматическое преобразование текста в аудио

Editorial Rating

5

Qualities

  • Eye Opening

Recommendation

“Deutsche Bank as we once knew it is dead.” Such is the conclusion of three veteran reporters in Germany’s newsmagazine Der Spiegel. Not without nostalgia, the authors provide a scathing critique of how Germany’s largest bank, once exemplifying solid “German values,” turned into a global investment bank embroiled in a series of financial scandals. The authors are pessimistic about the bank’s future, suggesting that it might not be able to survive. getAbstract recommends this article, which is partly an institutional history and partly a passionate wake-up call, to anybody interested in Germany’s iconic institution and German tax payers.

Take-Aways

  • Deutsche Bank once served as a backbone of the German economy.
  • In the 1990s, it became a globally operating investment bank.
  • Investment bankers in London and New York started to dominate Deutsche Bank in the 2000s, alienating long-term German bank employees.

About the Authors

Ullrich Fichtner, Hauke Goos and Martin Hesse are reporters at German’s weekly newsmagazine Der Spiegel.


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