It’s kind of a cheap shot to go back and rehash corporate statements from way back in the past. Still, when the topic is banking and why the monetary system refuses more than intermittent and minor progress, it’s worth the revisit. What’s different now than before 2008, really August 2007, is far more than regulation. It’s the attitude that’s changed.
On August 1, 2007, Dr. Josef Ackermann, Chairman of the Board for Deutsche Bank, reported strong results for the firm. This was eight days before all Hell broke loose.
After an excellent first quarter, we delivered another outstanding quarterly result, with significant earnings growth over the same period last year. All our business divisions contributed to this growth. As a result, we delivered a very strong first half year, clearly demonstrating the power and resilience of our platform.
Obliged to put down just a few words to reassure shareholders about all the wild stuff they were hearing in the media about toxic waste and whatnot, Ackermann ably dismissed any concerns with hard words.
at https://www.zerohedge.com/news/2018-02-05/big-german-zombieSome areas of the credit markets may continue to experience turbulent conditions, and investors may adopt a more conservative stance toward leveraged finance. Our business model which benefits from rigorous risk management and independent control processes is structured to deliver performance also in the face of such challenges. We have consistently adopted a prudent approach to risk-taking, and the current environment is no exception..."
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