In fact, such a high price increase was last seen 40 years ago – in the final phase of hyper-inflation, which in 1979 was even thirteen percent. US President Jimmy Carter brought the economist Paul Volcker to the Fed, who promptly raised the key interest rate to eleven percent. What drove Carter back from the White House to the Plains, Georgia peanut farm in 1981. Salty peanuts! After that, Volcker even had to impose 20 percent interest before he slowly won the battle and was hailed as an inflation tamer in the end. History doesn’t repeat itself, it just makes itself felt.
It may be too complicated to explain Cum-Ex in the usual election arenas and the role that Olaf Scholz, the SPD and the Hamburg Warburg Bank played in it. But nothing is too complicated in the courtroom when it comes to establishing the truth. There an ex-Warburg banker chatted about a system in which you paid capital gains tax only once, but then got it reimbursed several times and found everything as normal as Labskaus at lunchtime.
Top jobs of the day
Find the best jobs now and
be notified by email.
His actions were wrong, said the accused ex-managing director of a Luxembourg Warburg subsidiary now in court. In 2009 he had suspected improper business and had also signed false confirmations that were necessary for the tax refunds. His motive was fear for his career: “Based on my experience with the management structure of the Warburg Group, I was afraid that a refusal on my part would have ended my career.” Warburg makes a confession.
All those who rely on synthetic fuels (e-fuels) for the car traffic of the future have to write off an ally who is believed to be safe. Transport Minister Volker Wissing (FDP), whose party talked differently during the election campaign, said in the “Tagesspiegel”: “In the foreseeable future, we will not have enough e-fuels to run the cars with internal combustion engines that are now approved.”
(Photo: imago images / Rainer Unkel)
It would be better to operate planes. According to the Liberal, the most efficient energy source in cars is the electric drive. And then he argued with Brussels: “If you look at the EU regulation, you can see that the decision in favor of e-mobility has long been made. If we push the switch, we will also achieve our climate goals. ”Herbert Diess from VW couldn’t have said that better.
Ten years as Chairman of the Supervisory Board Paul Achleitner: For a while the vultures bet among the hedge funds that Deutsche Bank could be the new Lehman under him. Everything surpassed. Escaped near death. When the Austrian resigns in May, it will be with the certainty that in April 2018, Christian Sewing will finally have the right person installed as CEO. The “unhappy couple” Anshu Jain (type: speculator from the city) and Jürgen Fitschen (type: middle class, i.e. German oak) he had taken on as a difficult dowry, and his successor, John Cryan, was too good as a renovator.
Achleitner’s economic decade shows a loss of almost eleven billion euros, a drop of almost 50 percent in the share price and more than twelve billion euros in compensation for old sins of the investment banker squad, aka “Anshus Army”. But the bank is making stable profits again and the major shareholders from Qatar kept him in office.
On four printed pages we examine the actions of the former Goldman Sachs man and Allianz chief financial officer, a lithe super-gang player who, contrary to what was planned, for a long time no longer stayed in the Frankfurt bank tower on Tuesdays, Wednesdays and Thursdays.
The prevented Tuesday-Wednesday-Thursday man himself draws a very honest summary. “Compared to what I imagined ten years ago, I’m not satisfied. But compared to the challenges that became apparent over time, I already am. ”
In addition: “In 2012, the bank itself did not know that it was a restructuring case – they were convinced that only a few reforms were needed. Had I known then what the situation really was like, I would have approached the job differently. ”And:“ Of course I got headwinds here and there. Sometimes rightly, sometimes wrongly. Today, however, many are satisfied with the result. “
In short: Achleitner was not as bad as many made him, and not as good as he probably sees himself. “For him, morality was neither submission nor wisdom, but the infinite whole of possibilities to live,” wrote Robert Musil in “The Man without Qualities”.
(Photo: Deutsche Bank)
And then there is Prince Andrew of the English royal court, son of Queen Elizabeth II.who may soon no longer be allowed to call himself “royal”. A New York court has now ruled to admit Virginia Giuffre’s lawsuit against him. She claims to have been sexually abused by Prince Andrew between 2000 and 2002 when she was a minor. The meeting was brokered by the convicted investor Jeffrey Epstein, who died in prison in 2019, and the also convicted Epstein friend Ghislaine Maxwell.
Andrew denies all allegations. His attorneys argued, in vain, that Giuffre accepted a court settlement in 2009 not to sue anyone associated with Epstein. Game over – now there are probably no longer any obstacles to civil litigation in New York. At the end we philosophize a little with Jean Cocteau: “A half-empty glass of wine is at the same time a half-full one, but a half-lie is by no means half a truth.”
I wish you a really nice day.
Best regards
Her
Hans-Jürgen Jakobs
You can subscribe to the Morning Briefing here: