ML-Implode News - Pressure is building for Germany to show it's ready to rescue Deutsche Bank

... market talk intensified that it's becoming time for the German government step in and assure investors that it will be at the ready to stabilize both Deutsche and the broader system -- much along the lines of what U.S. officials had to do during the 2008 financial crisis.
"They're going to probably have to say that they would be willing to put funds into the bank," said banking analyst Christopher Whalen, senior managing director and head of research at Kroll Bond Rating Agency. "It's exactly like what (former Treasury Secretary Henry) Paulson did with Citi ... It's a very analogous situation. Hopefully, the German government will take a page from that particular book and look at how the U.S. responded."'
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However, the European corporate culture is different, particularly when it comes to banking. Bailouts are considered anathema, and German officials in recent days have signaled an unwillingness to step in.
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"The politicians in Germany aren't in position right now to do anything ahead of the election," he added. "The beast in the market, the serpent in the market, knows this, and the market will push and push and push until they break the politicians in Germany to come up with public funds."

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Pressure is building for Germany to show it's ready to rescue Deutsche Bank