If “Europe Is Fine” Why Is Deutsche Bank Deleveraging At The Fastest Pace Since The Crisis of 2011?
by Tyler Durden
ZeroHedge.com
07/30/2013
Early today, Deutsche Bank disappointed markets when it reported a second quarter Net Income number of €335 million, or half of what the company made in the previous quarter, and less than half of what consensus expected. However, just like in the US, where as we showed previously it was FASB accounting gimmicks that “allowed” Bank of America to convert a loss into a $4 billion profit, so Deutsche Bank’s real Net Income, aka its Total Comprehensive Loss, number when factoring all the other MTM Income Statement components such as AFS, FX translation and pension adjustments, was lower by €1.1 billion.
The Rest…HERE
