International banks exploit the crisis to reap massive profits

By Stefan Steinberg Global Research , July 31, 2009 World Socialist Web Site At the start of this week, German-based Deutsche Bank announced a huge increase in its profits. The bank reported a net profit of €1.1 billion in the second quarter of this year, nearly doubling its earnings over the same period last year (€645 million). The massive increase in Deutsche Bank’s profits follows record earnings for US-based Goldman Sachs. Two weeks ago, the US investment ba