A nice post about how Deutsche Bank lost its prudence and how mix of toxic culture and incompetence made a systematic risk.
I did not know that Deutsche Bank became so low. When I was in college Deutsche Bank was doing well, it was perceived a potential top tier bank to be. However, then the financial crisis came and things started to unravel. And now Deutsche Bank is a big mess.
So what happened? Well, I am sure that there will be many more pieces about the fall of DB but the things that brought down DB are pride and greed. DB became too proud with its aggressive growth and greed made it even more risk seeking, and that brought it down to its knees. Well, this is almost always the downfall of men and society, warned by the bible. Yup, once you become proud, one does not listen and eventually engage in not so smart actions, and doom comes (Proverbs 16:18).
So what can DB do? Well, it is tough right now because they are really in trouble. But the best course of action is to bring prudence back. No more venturing in things that it does not know well. Return to prudent and conservative banking. No one knows how long it will take but I hope DB recovers well.