I used to love to negotiate against Deutsche Bank when I had the upside of the leverage in the dispute. Refighting World War II again and again was a joy, making Deutsche Bank's stubborn young men gnash their teeth and scream at me.
The problem with Deutsche Bank's employees is that they think that because they are the uber lender, they should always get their way. As a result, I always shake my head when I hear someone is the borrower on a Deutsche Bank loan that they are trying to work out. For the borrower, it's like trying to negotiate with a Panzer Division while riding a Polish cavalry horse.
The problem with Deutsche Bank troubled debt restructure employees is that they never have a firm grip on reality, instead expecting that the economy and the regulatory environment in the U.S.A. must be the way they want it to be, rather than the way it is. Usually, "realistic" is not a term which Deutsche Bank employees can comprehend.
As a result, I am mildly pleased to see that Deutsche Bank has gotten a grip on reality, at least with respect to one commercial real estate loan. See:
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