Following this morning’s proclamation by Deutsche Bank co-CEO John Cryan that Germany’s largest bank is “rock solid,” David Stockman exposed the ugly truth that everyone appears to have forgotten from just 7 years ago…
“in my experience is that when the crunch comes, bank CEOs lie”
Stockman details the Morgan Stanley, BofA, Lehman, and Bear Stearns bullshit that occurred before exclaiming…
“I don’t trust Deutsche Bank. I don’t trust what they’re saying. And there’s reason why the banks are being sold all across the world… because people are realizing once again that we don’t know what’s there [on bank balance sheets].”
Worth considering before tomorrow’s European open…
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