Comin' in hot [The Water Coolest]
German officials raided Deutsche Bank's offices as part of an investigation related to the Panama Papers. You read that right ... the feds going all Elian Gonzalez on DB isn't even related to the firm's alleged wrongdoing in the Danske Bank saga.
When it rains it pours. And pour it did in Frankfurt, as roughly 170 police officers overran DB HQ seizing documents (but definitely not fruit) and making the Stratton Oakmont raid feel very "Paul Blart." A search for DB analyst's missing bonuses turned up empty according to authorities.
The search focused in on two employees only identified by their age. At least one of them remains employed in the financial-crimes fighting unit of the embroiled bank. Because, of course they are.
In case you brushed off the Panama Papers as "just another one of those Wiki Leaks," let's recap, shall we? The Panama Papers were a big f*cking deal ... and still are. A bunch of investigative journalists uncovered a ring of elaborate offshore tax evasion that helped the rich and famous protect hundreds of millions of dollars from the tax man.
Deutsche Bank, which confirmed the investigation, fell 3.4% in trading today.
And now for a live look at CEO Christian Sewing.
Plus one [The Water Coolest]
Can you say "third wheel?" According to the South China Morning Post, White House trade policy adviser, Peter Navarro will join President Trump and Chinese president Xi Jinping for dinner during a meeting slated for the G20 summit. The Dow fell on the news. Navarro is known for playing hardball with the Chinese on trade ... and chewing with his mouth open.
HODL [The Water Coolest]
How bullish is Mike Novogratz on crypto? Bullish enough to participate in a charity auction where he will offer up an hour of his time to discuss the intricacies of cryptocurrncy with one lucky winner. But not quite bullish enough to let real human beings use crypto to bid.
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