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"Deutsche Bank is a work of satirical genius"

The poor performance of Deutsche Bank shares is often cited as evidence of a failing business model. But this raises a simple question: failing for whom?

This is bank where more than a thousand members of staff earned in excess of €1m a year. Yet its return on equity (post-tax return on tangible equity) is just 0.4 per cent.

ftalphaville.ft.com/...al-genius/