Reply to: Deutsche Bank

[Bluenose]

Deutsche Bank were HPE's biggest customer in Europe, and are probably one of the biggest for DXC now. The move to the "private cloud" was more about shifting as many roles to cheaper countries as possible, the usual India and Bulgaria etc.

to be fair DB went through 5 years trying to hold onto employing senior people on duff rates and have realised the mistake they made.

It’s a strange place, they either employ people on massive rates who seem to run the place into the ground or, try to get big transformations done via India.

There are rumblings of a realisation that they made some mistakes but it’s looking like a basket case.

[CoolCat]

Surely the probability has been 100% since about early 2009 - the only question was (and still is) "How far into the future can the inevitable bankruptcy be delayed?"

Deutsche Bank were HPE's biggest customer in Europe, and are probably one of the biggest for DXC now. The move to the "private cloud" was more about shifting as many roles to cheaper countries as possible, the usual India and Bulgaria etc.

[eek]

Oh dear, keeps on rising...


Deutsche Bank Probability Of Bankruptcy = 50%


What is current Deutsche Bank Probability Of Bankruptcy | DB BATS - Macroaxis

Surely the probability has been 100% since about early 2009 - the only question was (and still is) "How far into the future can the inevitable bankruptcy be delayed?"

[scooterscot]

Oh dear, keeps on rising...


Deutsche Bank Probability Of Bankruptcy = 50%


What is current Deutsche Bank Probability Of Bankruptcy | DB BATS - Macroaxis

[oliverson]

FTFY

ha ha ha ha.

[BlasterBates]

After a $354 Billion U.S. Bailout, Germany’s Deutsche Bank Still Has $49 Trillion in Derivatives
$354 billion US bailout! Many things happen in silence where big business & too big to fail are concerned

" The foreign bank that ranked 9 on the list of the largest borrowers was Germany’s largest bank, Deutsche Bank, which took $354 billion in revolving loans from the U.S. Federal Reserve."

Where's Merkel's contribution ?

That is a US bail out for the US part of Deutsche bank, which they then paid back.

All the US banks were in the bail out.

Barclays had a loan of nearly 1 trillion, Citi Group 2 trillion. In fact Deutsche Bank's loan was about a 3rd of the size of most of the major international investment banks

[uk contractor]

Why would they "silently" do this ?

If they had a way of doing this "silently" they would have done the same with the Commerz Bank. A government can't just secretly hand funds to a bank.

In fact it's the exact opposite, Deutsche Bank has been shelling out millions in fines.

After a $354 Billion U.S. Bailout, Germany’s Deutsche Bank Still Has $49 Trillion in Derivatives
$354 billion US bailout! Many things happen in silence where big business & too big to fail are concerned

" The foreign bank that ranked 9 on the list of the largest borrowers was Germany’s largest bank, Deutsche Bank, which took $354 billion in revolving loans from the U.S. Federal Reserve."

[NeedTheSunshine]

They avoided the bail out ONLY because they were silently propped up in the background to stop another Lehman brothers collapse contagion event! This has been common knowledge in the Trading Sectors for many years...

Really? That is not my understanding of the DB situation.

The "restructuring" that is happening makes absolute sense. Should have done it a couple of years ago, but better late than never.

[BlasterBates]

They avoided the bail out ONLY because they were silently propped up in the background to stop another Lehman brothers collapse contagion event! This has been common knowledge in the Trading Sectors for many years...

Why would they "silently" do this ?

If they had a way of doing this "silently" they would have done the same with the Commerz Bank. A government can't just secretly hand funds to a bank.

In fact it's the exact opposite, Deutsche Bank has been shelling out millions in fines.

[uk contractor]

Actually Deutsche Bank avoided the bail out and hasn't received any funds from the government.

You may be thinking of the Commerz Bank which did.

They avoided the bail out ONLY because they were silently propped up in the background to stop another Lehman brothers collapse contagion event! This has been common knowledge in the Trading Sectors for many years...

[BlasterBates]

Its tough but also to be fair they have been propped up since 2008 by Germany & Merkel using the EU as a slush fund to support German big business. They should have collapsed then but only Merkel & others kept them going to avoid further disruption to the financial services sector.

Actually Deutsche Bank avoided the bail out and hasn't received any funds from the government.

You may be thinking of the Commerz Bank which did.

[uk contractor]

Regardless of your views on the situation, absolutely heartbreaking the individuals involved and their families.

I did note they are investing 13 billion Euros in technology unto 2022 though.

Its tough but also to be fair they have been propped up since 2008 by Germany & Merkel using the EU as a slush fund to support German big business. They should have collapsed then but only Merkel & others kept them going to avoid further disruption to the financial services sector.

[GhostofTarbera]

Deutsche Bank

Regardless of your views on the situation, absolutely heartbreaking the individuals involved and their families.

I did note they are investing 13 billion Euros in technology unto 2022 though.

One of my (contractor £750 a day) mates just phoned to ask me if I could go boozing as he has been asked to leave DB immediately and they would pay 6 weeks notice money !!!

Heartbreaking as I’m working today !!!




Sent from my iPhone using Contractor UK Forum

[cloudy]

If you like working for half your normal rate because you are being triple sub-contracted. i.e. Senior Programme Manager on £325 pd.

In the heyday 2000-2011(ish) lots of highly paid IT people went into this place contractor and perm.

Product manager roles/CTO roles £200k+ packages, £1,400 a day BA roles in equities front desk, the lot.

They hired, they fired, they did not govern the place properly, too much politics and a toxic environment.

I know much more than this because of my proximity to people who work there and have worked there for over 15 years.

It is a total basket case, the only way to fix it is to :

a)Format c: /u /q
b)Delpart
c)Diskpart
d)Setup.exe.

Do i feel sorry for the people let go? not really no, it is a stain on the city of london and it is a timely kick in the gonads for the awful sub-industry that is investment banking.

True about the toxic environment. It went from being a reasonable place to work to a practice-run for Game of Thrones (season 1).

Oh, and using Microsoft "shell" would only make things worse .

[SussexSeagull]

Regardless of your views on the situation, absolutely heartbreaking the individuals involved and their families.

I did note they are investing 13 billion Euros in technology unto 2022 though.