
By Pam Martens and Russ Martens: March 24, 2023 ~ The reassurances of Federal Reserve Chairman Jerome Powell and U.S. Treasury Secretary Janet Yellen that the U.S. banking system is sound, stand in sharp contrast to what is happening in markets. This week, the shorts have found another easy new global bank target to try to take down after making a bundle of money betting against Credit Suisse, which was taken over for 82 cents a share on Sunday by its Swiss competitor, UBS. This time the global banking target is Deutsche Bank, a global behemoth we have warned about ad nauseum here at Wall Street On Parade. Deutsche Bank was a $120 dollar stock prior to the financial crisis in 2008. It closed yesterday at $9.65 in New York and is down another 10 percent in early morning trading in Europe. The weakness in Deutsche Bank is spilling over into … Continue reading