Deutsche Bank is one of the world’s largest and most important banks and its shares are cratering. The stock is down over 50% YTD and it is taking a beating again this morning. Over the weekend, it was reported that German Chancellor, Angela Merkel ruled out giving the bank state-aid. That may have been a mistake as investors now smell blood. If Deutsche Bank’s counter-parties start backing away from doing business with the bank and the German government doesn’t come to its rescue, there may be no way for the bank to recover.