Deutsche Bank, a summary: The Robert Rubin Trade. Banking is about hiding tail risks and the accumulation of tail exposures. Claims that it is "safe". Society pays for the blowups.

Deutsche Bank, a summary: The Robert Rubin Trade. Banking is about hiding tail risks and the accumulation of tail exposures. Claims that it is "safe". Society pays for the blowups. pic.twitter.com/ob1e3PeeLG

— Nassim Nicholas Taleb (@nntaleb) July 9, 2019