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DEAL WITH THE DEVIL
"Not!" - Borat ... and Deutsche Bank. The former bulge bracket bank has a new plan for getting itself on the straight and narrow: not spending $4B on consumer relief. Instead of spending $4.1B on consumer mortgage assistance as part of a mortgage-crises settlement, DB will plow the money into new loans ... you know, the kind that make the bank more money. Of course, the bank is simply taking advantage of US Justice Department leniency on financial-crisis settlements.
Deutsche Bank Reverses Pledge to Help Distressed Homeowners [Bloomberg]
IN OTHER NEWS
- SoFi is coming for Robinhood's crown
- Sinemia is going all MoviePass on cinephiles
- Big three stock exchanges biting the hand that feeds
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