The world is on the brink of World War Three, we have the disastrous US #Election 2016, we saw the Brexit referendum winning in the UK, Wells Fargo, and Deutsche Bank have come under scrutiny, the Panama Paper leaks and the ghost of the Lehman Brothers' downfall is looming large in the shape of Deutsche Bank's collapse.
The September issue
It's normally in the month of September where things in the financial world 'pick up.' It heralds the start of the new year and the good things to come. The big companies launch their best and important products in September. The fashion giant Vogue has even a special edition magazine called "The September Issue." #Apple released its #iPhone 7 in September. So its all good news.
An October haunting
An October haunting is looming large given the current political and financial climate of the world in general (and it's Halloween.) Another financial crash is about to be birthed in the shape of the downfall of banks such as Wells Fargo and Deutsche Bank who have both been fined for mis-selling services to its legion of innocent and loyal customers. In 2008, banks like the Lehman Brothers played a pivotal role in the financial crash by "providing residential mortgage-backed securities," reports "The BBC."
The following is a statement from "USA TODAY" where Adam Shell has noted the Lehman Brothers' collapse as the turning point of the financial crash of 2008 and the crashes to be taking place in the month of October. "It's not unusual for the ghosts of Octobers past to haunt stock investors, as market crashes in 1929 and 1987 occurred in October, as did the meltdown in 2008 after Wall Street titan Lehman Brothers filed for bankruptcy."
Deutsche Bank's downfall as a financial crash alert
Deutsche Bank's collapse under similar circumstances as the Lehman Brothers could bring about a new financial crash of 2016 this October. Its shares have plummeted to its lowest low in the German bank's history. It is feared that the bank is not financially secure enough to pay off its huge fines accrued over the years. The bank has been under pressure of paying debts since the start of the 2008 financial crash.
"Bloomberg" has reported that the "Deutsche Bank has paid over $9 billion in fines and settlements since the start of 2008." So far the failing German bank has amassed a huge debt and it recently lost a case against the US Department of Justice to bring the huge sum of $14 billion in fines to a minimum.