A cunning plan for Saudi & Deutsche Bank

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Markets are starting to feel post-traumatic stress once more as the looming DoJ fine of up to $14bn weighs on the share price and perceived credit-worthiness of Deutsche Bank.

Some hedge funds are winding down exposures and risk departments are scratching their heads to figure out if this is another Bear Stearns, Lehman or a different beast entirely.

The curious element here is that as opposed to being in our normal framework of the returns of a private company being determined by the Governance Regime and policies of its home country, Germany, the fate of the equity of Deutsche Ba...