Okay, so the big news today is that Michael Cohen pleads guilty.  Ya wanna know why?  Because he’s freeking guilty.

CNN has it all over the top of the page.  Big news.  Big giant news.

That’s not the most important news today.

The news is about one of the largest criminal enterprises in the world:  Deutsche Bank.  This morning Deutsche Bank was raided in Germany.

Five other Deutsche offices in the city were searched in an operation involving about 170 police and officials.

Prosecutors are looking into whether Deutsche Bank staff helped clients set up offshore accounts to “transfer money from criminal activities”.

Deutsche is a money laundering operation.  They’ve been caught many times before and let me tell you what happens.

In 2017, Deutsche Bank was fined $630m (£504m) by US and UK regulators in connection with a Russian money laundering plan.

Under the scheme, clients illegally moved $10bn out of Russia via shares bought and sold through the bank’s Moscow, London and New York offices.

Okay, so they were fined $630 million on a $10 billion dollar deal.  That’s not a fine; that’s a fee.  I mean, it’s like a 6.3% fee.

But what it did do is make money launderers scared.  They are at least moving their money to another bank they can control.  Deutsche’s profits are falling.

Keep an eye on this one – I’m betting some Russian oligarchs are gonna take a hit.