Photo Gallery 'America's Foreclosure King'
Deutsche Bank is deeply involved in the American real estate crisis. After initially profiting from subprime mortgages, it is now arranging to have many of these homes sold at foreclosure auctions. The damage to the bank's image in the United States is growing.
Foreclosure: More and more properties in the United States are being auctioned because owners are no longer able to pay their mortgages.
Foto: Ethan Miller / AFP
A foreclosed home auction near Chicago: American homeowners are among those who have suffered the most as a result of the financial crisis.
Foto: Scott Olson/ Getty Images
According to real estate expert Steve Dilbert, "some 85 to 90 percent of all outstanding mortgages in the USA are ultimately controlled by four banks, either as trustees or owners of a trust company. Deutsche Bank is one of the four." Criticized publicly for his company's role in the foreclosures, Deutsche-Bank CEO Josef Ackermann (pictured) responded: "It's painful to look at these houses."
Foto: Mario Vedder/ APN
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