by the global financial crisis and the share price is yet to recover. legal disputes compounded doj has problems the bank was forced to pay billions in fines for russian money laundering breach of sanctions against iran and syria and for its role in the subprime mortgage scandal we re e after years of uncertainty someone vester see this radical reboot as an opportunity. dawdling around for the last few years is now over the steps are being taken to give the bank a new direction and that s what s been missing for the past 5 or 6 years from 6 yards even those most acutely affected the employees except retrenchment is necessary and if i take a painful step today at least it hurts in a socially acceptable way and that can help move forward into the future then it s important we go along with it. puts the cost of restructuring at $7400000000.00
could be the only way to save the back. it was the investment bankers that were the 1st to go whole teams of them were fired on monday across asia deutsche bank is turning its back on the international equities business and focusing its attention back home. on that leg on the plant we ve been planning for quite some time that after achieving stabilisation last year cleaning up the balance sheet and in costs under control we now want to take the next step mats to align the bank with its strengths and that is what we re pleased to announce to the company stumbled during the world financial crisis and its share price has yet to recover. has also been held back by a procession of legal woes the bank repeatedly saw itself confronted with fines worth billions of dollars for money laundering violating sanctions and its role in the subprime mortgage scandal but the restructuring effort is now being seen as
forcing banks to make loans. it led to the disastrous meltdown that led ultimately in september of 2008 to the terrible consequences we are still dealing with today in our economy. you know, that s old time religion there. ice not fact. everybody knows wall street is guilty. they overleveraged. they gave credibility to the securities. they did it with default swaps. the cra, community reinvestment act. it s class warfare. some economists are going to argue the cra played a role in bringing down the subprime mortgage scandal. the issue with bachmann is she completely ignores the loose regulatory environment. it s a gross