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Adviser To Turkish President Is Just Throwing It Out There: Turkey Should Buy Deutsche Bank

He proposed he idea on Twitter, naturally.
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Everyone already knows this but we'll say it again for the people who've been living under a rock where updates on the state of financial companies are few and far between: things a really, very, flamingly bad at Deutsche Bank right now. How bad? No one wants to admit to working there bad. "Second-quarter net income fell 98% from a year earlier" bad. Failing its stress test bad. Approximately twenty-nine employees involved in Libor-rigging bad. $14 billion fines bad. Unprotected sex with a junk bad. But are they 'let's take the 140 character proposal of a guy on Twitter, the place where half-baked ideas are tossed out there to see how they stick based on likes and retweets' bad?

Yigit Bulut, a chief adviser to Turkish President Recep Tayyip Erdogan, said the country must consider using a new wealth fund or a group of state-owned banks to buy the Frankfurt-based company. Bulut made the proposal on Tuesday via his Twitter account, saying Germany’s largest lender should be made into a Turkish bank..."For months on TV programs, I’ve been calling on Turkey’s private and public capital: ‘Some very good companies in the EU are going to fall into trouble and we need to be ready to buy a controlling stake in them,’” Bulut wrote on Twitter. "Wouldn’t you be happy to make Germany’s biggest bank into Turkish Bank!!"

Well, John Cryan? Would you??

Erdogan Adviser Says Turkey Should Consider Buying Deutsche Bank [Bloomberg]



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