If Deutsche Bank puts all its bad assets, liabilities and stalled business lines into one entity, what would be left of Deutsche Bank?

Well, here's a thought that made our head spin:

Deutsche Bank AG executives have discussed creating a new unit to house unwanted assets and businesses that could be earmarked for closure, part of contingency planning under way should a possible merger with German rival Commerzbank AG fall through, according to people familiar with the matter.

What is Deutsche Bank if not a unit of unwanted assets and businesses that could be earmarked for closure? And, yes, we're being glib...that's why we left out all the legal liabilities.

Listen, we get that merger negotiations with Commerzbank are fraught what with the deal being the last best chance for Deutsche Bank to survive in any form even remotely resembling itself, but we can't help noticing that the real hang-up in the deal seems to be that Deutsche is already a "bad bank."

Deutsche Bank Considers Forming ‘Bad Bank’ [WSJ]

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