Get Annual Report 2008 Deutsche Bank A. .

Deutsche Bank shares fell on Friday following a spike in credit default swaps Thursday night, as concerns about the stability of European banks persisted. The Frankfurt-listed stock was down 14% at one point during the session but trimmed losses to close 8.6% lower on Friday afternoon.

The implosion that year of Washington Mutual, as well as the investment banks Lehman Brothers and Bear Stearns, was followed by failures throughout the banking system.

Washington Mutual Bank Headquarters: Henderson, Nevada. Assets: $307 billion. Date: Sept. 25, 2008. Washington Mutual Bank remains the largest bank failure and by a fairly wide margin.

6 Some of the largest banks to fail were investment banks, including Lehman Brothers and Bear Stearns. JPMorgan Chase, Goldman Sachs, Morgan Stanley, and were all bailed out by the federal government and did not fail.

Over the past decade a number of sanctions have been imposed on the bank and it has paid big fines over its failure to crack down on money laundering and over allegations of enabling tax violations, price fixing and foreign bribery.

After remaining profitable throughout the earlier part of the crisis, Deutsche Bank reported a net loss of €4.8 billion for the fourth quarter, and consequently a full-year net loss of €3.9 billion.

In 2008, Deutsche Bank reported its first annual loss in five decades, despite receiving billions of dollars from its insurance arrangements with AIG, including US$11.8 billion from funds provided by US taxpayers to bail out AIG.

In a conference call to the media on the morning of the redundancies, the CEO highlighted the bank's main errors as over-expansion, ill-thought-out capital allocation to failing corners of the business, and ignorance with regard to costs.