Deutsche Bank: An Ugly Story Of The Unbridled Arrogance



Posted by Ed 35 days ago

This week, it was officially announced that 18,000 people would be laid off by Deutsche Bank. These are real people with spouses, partners and children. They have mortgages to pay, college tuition bills and retirements to plan for. Some may easily find new jobs, many will struggle, others could be left lost without any prospects, eating into their savings and, perhaps, never finding another job at their level of compensation.

On the same day that layoffs began, a photographer snapped a photo of two impeccably dressed gentlemen who were believed to have been fired investment bankers carrying their belongings out of the building. The photo evoked the same feeling as a preceding poignant Wall Street memory—images of sad and angry Lehman Brothers employees leaving their offices, schlepping boxes with their personal effects, as the bank was shutting down in the midst of the financial crisis.

It was later detected by internet sleuths that the two men were actually tailors. They were summoned to the Deutsche Bank offices by investment bankers—who were obviously not affected by the downsizings—to fit them for custom $1,800 suits. 

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