Deutsche Bank did not want to own and operate the Cosmopolitan, the glitziest new casino and hotel in Las Vegas. It basically inherited the mega-project in 2008 when developer Bruce Eichner defaulted on his $768 million construction loan from Deutsche Bank, as the economy started to crumble. That forced the bank to foreclose and take control of the property. It had little choice but to see it through to completion.

The casino opened in December to lukewarm reviews, amid predictions that it will be many years before the bank finds an exit. "Deutsche Bank is years--if not decades--away from breaking even on the Cosmopolitan, say analysts, given the weak cash flow and heavy debt load," the New York Times reports. "The resort, which was open for just 17 days in 2010, logged a loss of $139.5 million for the year."

The bank's senior management has stayed away for the most part, perhaps embarrassed. CEO Josef Ackermann has visited the Cosmopolitan only twice in recent years. He did not attend the splashy opening party, which featured by Beyonce, Coldplay and Jay-Z.

There have been some cultural clashes apparently, as the execs back in Frankfurt nixed an ad campaign they deemed too racy.

No doubt the bank would like to sell the property. But to whom?

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