> Eurocapitalism", nobody does. On this entire list, I'd wager that the
> only two people who give a fuck about Deutsche Bank are you and me,
> and I'm paid to.
And that is exactly why the Left is weak, powerless, and bereft of political power, while the forces of Capital go from strength to strength and transform the world, instead of merely interpreting it.
> Deutsche is not a "trillion euro beast" in terms of profits or market
> capitalisation.
Market caps vary wildly with little regard for economic fundamentals, but a trillion euro's worth of assets is not exactly chump change.
> And in any case, where is Deutsche's "own turf"? The European capital
> markets?
DB and its friends were very effective in lobbying the SPD to loosen up Germany's tax codes, and are shifting from homegrown industrial stakes to a global palette of investments.
> survivors in global banking. The Germans in particular are utterly unable to
> finance growth internally.
Nonsense. Germany does not import vast amounts of capital to fund its economy; it does not rely on bubble stock punts to fund its tech sector; German firms have huge liquid assets and reserves salted away for a rainy day; Europe as a whole (including Switzerland) runs comfortably large current account surpluses with the rest of the world. It's not just banks; EU insurance firms are gigantic, too.
-- Dennis