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500 To Be Fired From Deutsche Bank Because Of Suffering Trade Revenues

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(Via Zerohedge)


The drip-drip-drip death spiral of what was once the world’s most systemically dangerous bank continues as Bloomberg reports Deutsche Bank has started cutting at least another 250 jobs at its corporate and investment bank units.


These new firings, which could widen to more than 500, according to Bloomberg’s sources, comes after bonus payments that Chief Executive Officer John Cryan said were on the “generous” side, helped push the business in the red.


Cryan is trying to motivate and retain top investment banking staff, while keeping a lid on costs following three straight years of losses.


But with revenue at a seven-year low, even a relatively small increase in compensation can cause losses at the securities unit.


Chief Financial Officer James von Moltke has urged a return to more disciplined cost management after the lender scrapped a target for this year.


And these “generous” bonuses follow a 27% collapse in trading revenues and the disastrous debacle surrounding China’s HNA liquidating its holdings of the giant German bank.


Imagine how “generous” these bonuses would have been if things were really bad?


As Michael Huenseler at Assenagon noted previously:


“The results are disappointing again and we don’t see anything encouraging in them, reinforcing our doubts in the bank’s strategy and management…There’s no silver lining.”


Bloomberg notes that bank officials declined to comment.


For context, Deutsche Bank’s corporate and investment bank employed 17,251 front office full-time staff at the end of last year.


While Deutsche’s share price continues to languish, the last week or so has seen a more concerning re-ignition of short-term counterparty risks as Deutsch Bank’s 1Y Sub CDS spreads have blown out…


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Politics

President Donald Trump 45 – 47

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Donald Trump’s political journey over the last eight years has been a vivid illustration of modern populism, defying conventional political odds. Starting with his 2016 presidential campaign, Trump, a real estate mogul and reality TV star, harnessed populist sentiments to propel his candidacy. His message resonated with many Americans feeling left behind by globalization and economic shifts, promising to restore jobs, combat what he described as unfair trade deals, and prioritize American interests over international cooperation. This populist wave was marked by his direct communication style, bypassing traditional media to connect with voters through rallies and social media, where he spoke of “draining the swamp” in Washington, suggesting a deep-seated distrust in the political establishment.

The struggle of Trump supporters has mirrored this populist movement, characterized by a sense of alienation from what they perceive as a detached political and cultural elite. This group, often labeled pejoratively by some in the mainstream, found in Trump a voice for their frustrations with immigration policies, economic policies favoring global trade over local jobs, and cultural shifts they felt were imposed without their consent. The Trump family, from Melania’s fashion choices to Ivanka’s political involvement, became symbols of this populist resistance against the perceived elitism of politics. The criticism they faced only deepened the solidarity among Trump’s supporters, who saw in his family a reflection of their own battles against the establishment.

The alt-media ecosystem was instrumental in this populist surge, serving as both a battleground and a bastion. Outlets like Breitbart and Infowars, and later platforms like Parler and Truth Social, became the echo chambers where Trump’s narrative of being a victim of political witch hunts and media bias was amplified. These platforms didn’t just report news; they crafted a narrative where Trump’s every move, from policy to personal tweets, was framed as part of a larger fight against a corrupt system. This interaction between Trump, his supporters, and the alt-media has redefined political discourse, showcasing how populism can harness media, both traditional and digital, to challenge and reshape political norms. Trump’s journey has thus not only defied odds but has also redefined what political success looks like in an era where populism can sway elections and influence policy discussions at the highest levels.

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Politics

President Trump Returns to Butler to FIGHT for America First

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Trump’s Return to Butler, PA: A Symbol of Tenacity and Defiance

Today, former President Donald Trump makes a symbolically charged return to Butler, Pennsylvania, the site where his resilience was tested in an unprecedented manner. This visit, on October 5, 2024, is not just another campaign stop but a poignant reminder of his enduring “FIGHT FIGHT FIGHT” mantra, which has become emblematic of his political persona.

A Historical Backdrop

On July 13, 2024, Butler was thrust into the national spotlight when an assassination attempt was made on Trump during a rally. Surviving with a mere graze to his ear, Trump’s immediate response was to raise his fist, a moment captured in what has now become an iconic image, symbolizing his defiance against adversity. This incident didn’t just scar him physically but also galvanized his supporters, turning Butler into a shrine of sorts for Trump’s resilience.

The Symbolism of the Return

Trump’s decision to return to Butler is laden with symbolism. Here’s why this visit resonates deeply with his campaign ethos:

  1. Defiance in the Face of Danger: Returning to the site where his life was threatened underscores Trump’s narrative of not backing down. It’s a physical manifestation of his “FIGHT FIGHT FIGHT” ethos, showcasing his refusal to be intimidated by violence or political opposition.
  2. Political Theatre and Momentum: This rally serves as a masterstroke in political theatre, aiming to convert the attempt on his life into a rallying cry for his supporters. It’s an attempt to reignite the fervor seen in the immediate aftermath of the incident, where his campaign saw a surge in support, portraying him as a fighter against all odds.
  3. Uniting the Base: By revisiting Butler, Trump not only honors the victims of the incident but also uses the location to unify his base. The rally is expected to be a blend of remembrance and a call to action, emphasizing themes of perseverance, security, and defiance against the establishment’s perceived failures.
  4. A Message of Strength: For Trump, every appearance since the assassination attempt has been an opportunity to project strength. Returning to Butler amplifies this message, suggesting that neither personal attacks nor political challenges will deter his campaign or his message.

The Broader Impact

The “FIGHT FIGHT FIGHT” mantra has transcended its initial context, becoming a broader call against what Trump describes as systemic failures, from immigration policies to disaster response, as seen in his critiques of the current administration’s handling of events in North Carolina, echoed in his and his allies’ posts on X.

This return to Butler isn’t just about revisiting the site of a traumatic event; it’s a strategic move to encapsulate his campaign’s spirit in one location, making it a pilgrimage of sorts for his supporters. It represents Trump not just as a politician but as a symbol of resistance and persistence, key themes in his narrative of reclaiming America.

In sum, Trump’s rally in Butler today is more than a campaign event; it’s a testament to his campaign’s core message: a relentless fight against adversaries, be they political opponents, critics, or even those who threaten his life. This event is poised to be a significant moment in the 2024 presidential race, leveraging trauma, resilience, and defiance into political capital.

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Crime

President Trump: Military Tribunals For Traitors

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In an era where national security is paramount, the discussion around military tribunals has resurfaced, not as a relic of past conflicts, but as a necessary tool for contemporary justice. The advocacy for military tribunals, especially in the context of recent political and security challenges, underscores a fundamental truth: sometimes, conventional judicial systems are not equipped to handle threats that undermine the very fabric of national security.

The case for military tribunals hinges on several key arguments. Traditional courts, bound by extensive legal procedures, can often delay justice, particularly in cases involving national security. Military tribunals, by design, expedite the process, ensuring that threats are neutralized swiftly, which is crucial in preventing further harm or espionage. Military law, with its focus on discipline, order, and security, provides a framework uniquely suited for cases where the accused are involved in acts against the state or military. This specialization ensures that the complexities of military strategy, intelligence, and security are not lost in translation to civilian courts.

From the Civil War to World War II, military tribunals have been utilized when the nation’s security was at stake. These precedents show that in times of war or national emergency, such tribunals are not only justified but necessary for maintaining order and security. Contrary to common misconceptions, military tribunals can be transparent and accountable, especially when conducted under the scrutiny of both military and civilian oversight. The structure ensures that while justice is swift, it is also fair, adhering to the principles of law that respect due process.

Addressing criticisms, the argument for military tribunals isn’t about subverting justice but ensuring it. Critics argue that military tribunals bypass constitutional rights, particularly the right to a jury trial. However, in scenarios where individuals are accused of acts that directly threaten national security, the argument for exceptional measures holds. The Constitution itself allows for exceptions during times of war or public danger, as seen in cases like Ex parte Quirin, where the Supreme Court upheld the use of military tribunals for unlawful combatants. Moreover, the fear of authoritarianism is mitigated by the checks and balances inherent in the U.S. system. The President, Congress, and the judiciary each play roles in ensuring that military tribunals do not overstep their bounds. The judiciary, in particular, has the power to review and intervene if rights are egregiously violated.

From a broader perspective, the call for military tribunals isn’t just about addressing immediate threats but also about sending a message. It reaffirms the nation’s commitment to protecting its sovereignty and the rule of law. By using military tribunals, the U.S. demonstrates its resolve to handle threats in a manner that conventional courts might not be designed for, thereby potentially deterring future acts against the state.

In conclusion, the advocacy for military tribunals in the current climate is not about subverting justice but about ensuring it. These tribunals represent a robust response to unique challenges that threaten national security, offering a blend of efficiency, expertise, and justice that civilian courts might not always provide. While the debate will continue, the necessity of military tribunals in certain scenarios is clear, reflecting a pragmatic approach to safeguarding the nation while upholding the principles of justice.

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