The humbling slide of the west has been happening for years, and now it seems to be moving so fast, that it will shift into other categories, such as doubt and fear (for too many its already there). In America, we have had a couple of stock market crashes, a couple of lost wars, lower wages, and other missteps that have led to a kind of self-loathing, which threatens to exacerbate the most irrational of urges.
I have heard about how we should junk the Constitution (or parts of it) and abandon free markets for a form of Socialism designed to assuage the guilt-mongers, while also placating the masses.
I declare that we need to make a stand and actually embrace the roots of the nation with pride and confidence.
"Our reputation is everything...being boastful, indiscreet and vulgar is not okay, it will have serious consequences for your career"
Co- Head, Investment Banking Deutsche Bank
Last week, many inside and outside of the financial world were shocked when Colin Fan laid down the law to investment bankers at Deutsche Bank. Was this a sign that Wall Street was turning the corner, or maybe a sign that humility was working its way through the corporate world, which could be a precursor toward its becoming a moral citizen where the focus on money will be much less important than other things, like taking care of the environment and providing livable wages?
All kinds of developments will come to light in the ensuing days...
“Just the right amount of wrong” - Cosmopolitan Hotel and Casino
Friday, Deutsche Bank announced that they were getting out of the casino business, by selling Cosmopolitan Hotel and Casino to Blackstone for $1.743 billion. The problem is the Germany investment bank paid $4.0 billion for this foray, outside its core competency. I guess you could say it was "just the right amount of wrong" and then some.
This Monday we learned Deutsche Bank is raising $11.0 billion, and they received their first big chunk from the royal family of Qatar. The $2.4 billion is not out of character for the Middle-East oil giant, but I have to wonder, if it came with strings of humility attached.