Deutsche to slash at least 7K jobs

Compared to the size of the problem, cutting 7k jobs is like trying to extinguish the sun with a glass of water. Deutchebank like other big banks did not get this big and inefficient randomly. Their position is untenable and they should never have been allowed to get to this position. 4 x CEOs in 4 years, 3 straight years of losses, and a catastrophic mix of off-balance sheet derivatives, guarantees, trade finance and other other instruments.

Whatever happens next, they are unlikely to survive in their current form, and in a worst case scenario, unlikely to survive - and that is despite their claim of being 'well capitalized' (Basel III).