Skip to main content

Why the Deutsche Bank and Credit Suisse Settlements Are Good News

Deutsche Bank and Credit Suisse announce settlements with the Department of Justice totaling $12.5 billion.
  • Author:
  • Publish date:

Deutsche Bank (DB) and Credit Suisse (CS) announced settlements with the Department of Justice on Friday totaling $12.5 billion.

According to economist and Real Money contributor Steve Blitz, the settlements should be welcomed by investors.

"It puts uncertainty behind them," Blitz said. These settlements, he added, "aren't going to bankrupt either one of the banks. From the investors' perspective, this is no longer hanging over them."

Scroll to Continue

TheStreet Recommends

Blitz also commented on a fresh suit the Justice Department has launched this week against Barclays (BCS) .