Deutsche Bank has begun its $8.3 billion restructuring process that will see its priorities shift from its investment business back to a client focus. The "Restart" also involves 18,000 job cuts.
Will the process be enough to save the struggling German bank? TheStreet founder and Action Alerts PLUS portfolio manager Jim Cramer said....
"Too little, too late. It's just not a major bank anymore, it's a minor bank," Cramer said.
He added, "It's just a terribly run bank. And it never raised capital. But a lot of these banks never raised capital. The reason why our banks, you know, our banks were forced to raise capital. The fact is that our banks are stronger because the government said, 'you must raise capital'. Uh, and by the way, a lot of the banks still have weighed more stock, uh, even though they buy back stock aggressively versus where they were in 2007. So it's something to keep an eye on. When the banks finally get to where they were, then you're going to sense when you should be worried. Not yet."
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