While Chris and I & Sandy Herman waited for the COSMO to open we were appaoched by a reporter from the German newspaper: Suddeursche Zeitung who had flown along with his VERY pretty girlfriend to cover the opening of the COSMO! He wrote a very long story! It was published in Germany on Friday I think! I was given a link to it and I ran a translation program for the story. It is not perfect but I think you'll find it interesting!

Here it is: The last a paragraph's translation seemed to imply that the Fountainbleu purchased by Icahn was going to sit there for a long time? The translation was all scrwey at the end!

BYLINE
Moritz Koch
Correspondent
Suddeutsche Zeitung

After three years of crisis at last a party: The German bank opened its luxury resort with an attached casino - in the middle of Las Vegas. The everyday madness culminates at dusk. Before the Treasure Island thunder the guns of the pirate ships. On the blue channels of the Venetian gondoliers belting out her arias. The Mirage courting with a fire-spitting volcano to the attention of passers-by and next door dancing water fountains of Bellagio to the beat of to the beat of Christmas carols.

Powered by the night sky project. Only a few blue halogen strips decorate the facade of glass and steel. Restraint has become an attraction on the Strip, the entertainment district of Las Vegas flash, and the incessant flashes. With its strict edges of the new development would fit well into Frankfurt's financial district. What the issue would be raised.

The Cosmopolitan is not just any hotel. It is a luxury resort with an attached casino - and it and its part of Deutsche Bank, that after three years of crisis at last a party: The German bank opened its luxury resort with an attached casino - in the middle of Las Vegas. The everyday madness culminates at dusk. The financial industry against their bad reputation. Desperately trying to counter the banks feel they are venues for billions of gamers. And what makes Germany's largest bank? It carves the casino capitalism in stone. The everyday madness culminates at dusk.

On Wednesday opened the Cosmopolitan. For months, the city had feverishly awaiting this moment. After three years of crisis at last a party. Now Las Vegas has more 3,000 rooms, 1,500 slot machines, 13 restaurants and a shopping center more.

And the German bank has at best an image problem, and if things go badly, a billion dollar hole in its balance sheet.

"Wow it looks," says Christine. "so European. The German bank can be proud of their casino."the financial industry against their bad reputation. Christine and Sheldon Smith is not interested in what a fine irony was immortalized in the luxurious development, in which they stand. The retired couple from Las Vegas casino chip collecting. The commemorative coins of the opening day are particularly sought after by connoisseurs. "Today I cleared extra two empty savings accounts, a total of 900 dollars," says Sheldon.

A few chips he wants it framed at home, sell the rest if their value has increased. "It's like a Rolls Royce, "says Sheldon. An hour wait for the Smiths, already, Sheldon in the hooded sweatshirt, Christine cardigan, embroidered with cocktail glasses. At last come upon the guards, the doors of the Cosmopolitan. Inside booming electro beats. Everywhere it sparkles. The Smiths push inside, shops and gaming tables over to the lobby here is the big eye-catcher of the hotel: a chandelier crystals of two million over two floors reached!

The German bank's shares read, even investment bankers joke at the Deutsche Bank in New York that its premium content will soon be paid in casino chips. But is it too? It is striking that no senior bankers on Wednesday in Las Vegas looks. Equally significant is the brief press release in which the German bank coyly referred to as a financial investor in the project. She is referred to as a financial investor in the project. She is the sole owner. The 5,000 employees of the Cosmopolitan - the pages to the hotel manager - are part of the Frankfurt family of companies. "What happens in Vegas stays in Vegas," it says.

Even for Las Vegas is the opening of an (incision?) Cosmopolitan. The hotel could herald a new chapter in the history of the vice-oasis. It was once ruled by the Mafia. Then took over large companies such as MGM Mirage and Las Vegas Sands business. Now trying her luck high finance in the desert of Nevada, the German Bank plays for high stakes. Four billion dollars it has invested in the construction of the Cosmopolitan. Enough to German Bank CEO Josef Ackermann and his leader ship looking to get embarrassed, should the investment fail. As if the Frankfurter is not enough to worry. There is the crisis of the Euro zone, the concern for the stability of the whole European banking system. There are the new capital requirements and finance laws that force the industry to correct their business model.

Ironically, in such a serious situation, it turns out that the German bank has signed a multi-billion bet on the city of Las Vegas, they ran a calculated risk. The creditors of developer Ian Bruce Eichner was 60 million dollars (?) he borrowed at first. But Las Vegas was booming. Year after year, attracted more players to the casinos. The price for the construction of the Cosmopolitan, rose and with it the loans granted by the Deutsche Bank and with it the loans granted by the Deutsche Bank. In no case did the Frankfurt deserts miss the party. Scorn and ridicule are certainly the people of Frankfurt. They say anyway that the trading rooms of the financial groups have turned into casinos. If you click on the prices of oil, gold, wheat can share, why not on red, black or three suns? Cynics have at Cosmopolitan delight. As a casual gamer, who gradually falls to gambling, the financial group slid into his Vegas venture. Initially the bank was doing only what banks should do: You forgave a loan and n builders went bankrupt.No one believed that the streak would ever end.

100 years unbroken trend was the casino industry behind him, and why it should ever be otherwise? The banal realization that the past not the future can determine, was in Las Vegas into a bitter lesson. The crisis has scarred the city and sent the unemployment rate to depression level. Semi-finished and abandoned construction sites hotels testify about how quickly the luck turned when the first2008 Ian Eichner also said its bankruptcy, but since he had already borrowed nearly a billion dollars from the Deutsche Bank. The Frankfurt faced a choice: write or stop and continue playing and keep your fingers crossed? Finally they did what many players in Las Vegas and do regret most after. They doubled their efforts. And as if that was not enough, they tripled it.

“en dollars he paid, but instead of completing the shell, Icahn killed it off. Even the toilets have already built It. No other investor was nearly as bold. Not even the billionaire Carl Icahn, who is notorious for its risky business. Icahn bought a year ago, the nearly completed Fontainebleau Hotel and Casino, not far from” (?)