If Trump doesn't need banks, why does he keep asking them for loans?
The president is once again trying to rewrite his own financial history.
Zack Ford
May 20, 2019, 10:46 am
President Donald Trump’s Twitter feed lit up again Monday morning as he attempted to counter The New York Times’ latest reporting on his financial history, which involved claims about his accounts with German financial services company Deutsche Bank. Along with failing to materially rebut the Times’ piece, however, the president indulged in a tidy bit of revising of his financial history.
According to the Times, Deutsche Bank’s computer systems noticed possible illicit activity in both the president’s account as well as that of his son-in-law and presidential adviser, Jared Kushner. But when bank employees filed official reports on that suspicious activity, executives at Deutsche Bank allegedly ignored their concerns and failed to report them to the government.
For example, the system flagged numerous transactions from Kushner Companies to Russian individuals. Federal regulators had ordered Deutsche Bank to be more rigorous about reporting suspicious transactions specifically because it had been caught laundering billions of dollars for Russians. Though employees produced a suspicious activity report, anti-money laundering experts never reviewed the report, and executives chose not to report it to the government.
Trump’s concerns Monday morning, however, had little to do with these suspicious transactions. Instead, he took issue with the Times’ implication that Deutsche Bank was the only bank willing to do business with him because of his poor financial record.
https://thinkprogress.org/trump-deutsche-bank-loans-new-york-times-financial-history-f8ea4a7256fb/
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Trump’s relationship with Deutsche Bank is also facing new friction. House Democrats have subpoenaed Trump’s financial records from the bank, which appears prepared to cooperate. Trump has now sued the bank to try to force it not to comply with the congressional subpoenas.
It’s impossible to square Trump’s claim that he’s flush with cash with the sizable loans he has taken out and the amount he apparently still owes. If anything, his obsession with asserting his wealth — combined with his cavalier disregard for the consequences banks have faced from working with him — speaks to his belief that he deserves praise for getting away with massive business losses.
Let's not forget that somewhere, somehow people that borrow money from a bank in some shape, or some form get hit with this bullshit that this fraudster is, when he in essence bilked the bank, rates go fucking up......................honest borrows pay the price, that is a fact, somehow and somewhere...................................This asshole should have been thrown in jail years ago, and they should have thrown away the keys........................there needs to be thousands of billboards put up saying that this asshole is fraud a corrupt one at that................................
November 3, 2020 cannot get here fast enough...................
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