Jim Cramer: Deutsche Bank Needs a Solid Settlement
Deutsche Bank needs a good settlement with the government or it will have to raise capital, says Jim Cramer.
Deutsche Bank (DB) - Get Report needs a good settlement with the government or it will have to raise capital, says TheStreet's Jim Cramer. The German bank faces a settlement charge from the Department of Justice which reportedly could reach $14 billion. The fine stems from possible civil charges related to the bank's mis-selling of residential mortgage-backed securities in the run-up to the financial crisis. Deutsche Bank earlier this month confirmed it is negotiations with the DoJ over the settlement and that it has no intention of paying the initial sum. Even if it falls well below $14 billion, analysts have forecast that a fine in the $4 billion range could have a severe impact on the bank.
