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Perhaps i missed something, but wasnt DB supposed to be a big winner in the credit debacle, they were have supposed to have made 250 mil plus on the subprime mess no?
i have no idea what they were or weren't supposed to be, or what happened on other desks, but at least one of their desks has dropped over 100mm euros.
I think the desk that was disbanded was a credit prop desk, in which case it would be pretty much isolated from the rest of the bank, and definitely from the main credit sales, structuring, and trading desks.
their prop desk pnl is -136mm ytd?
there are multiple prop desks. one of the credit trading desks lost 136mm last month. i have no idea of ytd pnl.
yea that's what i meant
their credit prop pnl is usually pretty high so they are still probably up 300-400mm ytd
on what basis do you make this claim?
Historical performance
Also if that's their market-making credit desk dropping that kind of dough that's pretty messed up and heads should roll
it's a prop desk and heads have rolled.
14 guys up 4-500m at the end of June and they didn't close up shop for the year?
or put another way, the team makes you 500m, drops 100m and you shut them down?
well, you don't know that they were up 400mm on the year, that's just speculation on a msg board.
that was kind of my point. Either they weren't up that much or that there was an expectation that they would not be able to generate an appropriate level of profitability going forward.
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