In my best Artie Johnson voice: " veeeeeeery INteresting!"
When Deutsche Bank is concerned about “reputational risk”, you know it’s bad.
Frankfurter bank
Hamberder president
And yet all we’re hearing about on NPR this morning is NorthamNorthamNorthamNortham.
It is hard for me, as a non banker, to understand why any reputable bank would lend trump so much as a dime let alone hundreds of millions of dollars. Repeatedly.
Love the pic!
"Donald Trump IS Maria von Trapp in the new Mar-A-Lago Theater-In-The-Round production of Rodgers and Hammerstein’s ‘The Sound of Music’. Tickets available at the Russian embassy and all Papa John’s Pizza locations."
Truly! It’s like a crack addict worried about being called a meth head.
Deutsche Bank reportedly managed to sell half of the loan to Alfa Bank,
another Russian lender, as part of a bid to reduce its exposure to Russia
Alfa Bank, Alfa Bank. Where have I heard that name before?
Their business is to lend money, and they might have gotten deep into him before the alarm bells went off. But in banking it boils down to this: When someone owes you a thousand dollars they can’t pay back, they’ve got a problem; when they owe you a million, you’ve got the problem.
How do you guess it would play if it was Doug Ducey, governor (R-AZ)?
(((Snore)))
It’s other people’s money put at risk. The bank takes a commission on both the loan and collection.
You see? This is proof that Trump was not be colluding with the Russians. If the Russians had been bankrolling him then he would not have asked Deutsche bank for more money. Witch Hunt!
The Wall Street Journal published additional reports over the weekend saying that after Trump was elected, Deutsche Bank scrambled to drop a $600 million loan it had made to VTB, a Russian bank that was sanctioned by the U.S. government in 2014 over the Ukraine crisis.
This is interesting. Apparently, DB had no problems maintaining the loan to VTB despite sanctions, but once Trump was elected, tried to drop it like a hot potato. Certainly suggests they had concerns about some improprieties that might become exposed in any investigation of the matter.
DB is the Donald Trump of banking -criminal in an almost farcical way.
One thing that caught my eye (in addition to the obvious), was the shell games around borrowing against one property in order to prop up another.
The Nytimes piece noted in passing that the Trump .Org has repeatedly claimed that the Scottish course (and maybe all his golf courses?) was purchased for cash and didn’t require any new debt -and yet there were repeated transfers of tens of millions of dollars to the Scottish course from other trump companies.
Really makes me curious why he wasn’t borrowing against the golf course directly
Except that trump had defaulted on a loan and had sued that very bank and now, well… 2016, he wants to increase a loan?
Fyi: trump has a series of loans structured to come due in 2023 and 2024 from Deutsche Bank. A total somewhere near $200 million. Personally I would not want that hanging over my head.
The money comes from a certain formerly Soviet country located east of Belarus and the Baltics. The accountants do some co-mingling of assets to disguise it. But practically speaking, it’s not their money. No imprudent lending to see here, just numerous mafia ties and a certain disregard for illegal money laundering.
Distraction has been the Name of the Game by the GOP from the moment Steve Kornacki–on Election Night 2018, shortly after 8 PM EST–announced that there was a 60% probability that the Dems would control the House.
They have succeeded.
You ask ‘why’? You’re much smarter than that.
Fees, lots of fees, really big (Ed Sullivan big) fees. And little to no risk - NO ONE goes to jail… And get in before HSBC and UBS gets it first. Start with the ‘reputable’ part, then look for a guy named Kennedy, global loan manager. Then think about another guy (real important) named Kennedy (recently took an early retirement). And of course, Russian oligarchs, money laundering, off shore accounts, our SC and lots of coincidences …
I’m confused. Why would a successful, self made, business genius with a $10 billion fortune need to take out a campaign loan?