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August 01, 2010



Neoliberal ideology is based on profit maximization for the owners of capital - regardless of the consequences. DB simply (and ruthlessly) enact what Milton Friedman and others proposed. DB have a long history in maximizing profit without consideration for consequences, though - if I recall correctly, DB was heavily involved in investing in apartheid South Africa; not to mention their massive profits during the Nazi regime.


DB'S CEO Joe Ackermann has profited quite handsomely from the bank's activities:

"Berlin - The chief of Germany's biggest bank, Deutsche Bank AG, was the nation's top paid manager last year with a pay packet of 9.6 million euros (12.5 million dollars), a survey released Friday showed."

Concerning DB and the Nazi regime, to its credit the bank has opened its archives to historians and fully acknowledges the terrible role it played during that period.

I would like to learn more about DB and apartheid in South Africa.

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