It’s been a dreary October for European banking. Deutsche Bank is writing down €5.8 billion ($6.6 billion) on assets in its investment-banking and retail units. Credit Suisse is preparing for another reorganization and a capital call that could amount to eight billion Swiss francs. Standard Chartered will eliminate 1,000 of 4,000 senior-management jobs. Expect more bad news as another earnings season approaches and other banks come clean about losses and strategic shortcomings.
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