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"Radical Changes To The Business Model" - Deutsche Bank Forced To Shrink US Operations As Part Of DOJ Settlement

Back in 2008, when the business cycle was sharply turning, leading to a dramatic shortage of business for the major US investment banks which in the preceding years had gone on a hiring spree, one solution was to "shutter" one or more key competitors. This, according to some, was the underlying motive behind the elimination of the "outsider" banks, first Bear Stearns and then fixed income giant Lehman Brothers.
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