Deutsche Bank isn’t doing well. This has been shown once again by disappointing figures for the second quarter. Germany’s mightiest bank is doing so badly that it’s high time to write something encouraging. For example, that the bank isn’t as dangerous as Lehman Brothers, the Wall Street bank whose collapse directly triggered the financial crisis.
The comparison may seem absurd, but for a while now pertinent U.S. financial blogs have been calculating what the catastrophic effects for the global financial system would be from acute financial distress at the Frankfurt institution. And in his latest letter to the 100,000 employees of Deutsche Bank, chief executive John Cryan endeavors to dispel all doubts about the bank’s financial strength.