'What the hell are we doing?' Book reveals Deutsche Bank lawyer appalled that they

[turbinetree]

they kept Trump as a client

Published 4 hours ago on February 18, 2020

By Brad Reed

A new book written by New York Times reporter David Enrich reveals that Deutsche Bank’s own general counsel was appalled that the bank kept Trump as a client, as he kept defaulting on debts even after all other banks had cut him off from funding.

A review of the book published in the Times reveals that Deutsche Bank was so desperate to have Trump as a high-profile American client that its private banking division kept lending him money even after its real estate division cut him off for failing to repay his loans.

“Deutsche’s brass was so in thrall to Trump’s celebrity, and so eager to expand in America, one division lent $48 million to cancel the debt on a Chicago skyscraper — a debt Trump had defaulted on with another wing of the same bank,” the review explains. “They bought his pitch as voters would. In what could serve as a requiem for the country’s lost innocence, the general counsel said, ‘What the hell are we doing lending money to a guy like this?'”

Much of the book does not deal specifically with Trump, however, and instead details an assortment of scandals that Deutsche Bank has been involved in, including “interest rate manipulation, Russian money laundering, currency dealings with rogue states, the collapse of Italy’s (and the world’s) oldest bank, hidden derivative losses, a high-level suicide,” according to the review.

https://www.rawstory.com/2020/02/what-the-hell-are-we-doing-book-reveals-deutsche-bank-lawyer-appalled-that-they-kept-trump-as-a-client/

[2naSalit]

1. K&R

RMS covered it well and interviewed the author last night.

[turbinetree]

3. Yeah saw that also last night................

[DanieRains]

2. This Is How The World Works Friends

The rich and powerful move money around bribe, steal, rob, and avoid taxes at will. Us, we gotta pay taxes or the IRS makes examples of us while the Lenona Helmsley's of this world live in luxury.

Laws don't apply to the big dogs.

Just the powerless.

[2naSalit]

4. That could change if we wanted it bad enough. ...nt

[ahlnord]

14. Which candidate vying for the Dem nomination is best qualified to deal with this corruption?

Elizabeth Warren would be the best of all the candidates to handle financial corruption. She has been preparing for it her whole life.

[Scotch-Irish]

21. Elizabeth Warren would be the best candidate to deal with the financial corruption FOR SURE!

That's why the media has made her invisible of late. This country is so steeped in financial corruption that she is making people aware of, and the powers that be corrupted don't like it. They happen to own the capital in this country. Capitalism at it's most rampant.

[MarcA]

17. It's called the American Dream because you have to be asleep to believe it

to paraphrase Carlin.

[UTUSN]

5. K&R

[redstatebluegirl]

6. I wish Bloomberg would buy his debts and then call them all in at the same time.

Not only would it bankrupt 45, Bloomberg would have access to all of the paperwork used when 45 obtained the loans including tax returns and property evaluations.

[renate]

7. Or even just threaten to do it

Actually, Trump is so unstable I literally would not put it past him to drop a bomb on Canada in the middle of a meltdown, so never mind.

[DENVERPOPS]

9. Awesome thinking RSBG

The Trump debtors would be gleeful at the offer and snap their debts up. They value money far more than they value Trump.
Especially at this stage of his gaming & grifting........

I am more than sure that the entire world would be amazed at both how much Trump is truly worth, which would turn into how little the Lard ass is actually worth. And how, all his false self aggrandizing Bravado, has conned them and the entire world.......

That is such a great idea. Let's talk to Bloomberg. The relatively few Billion it would cost him is nothing compared to the good it would accomplish. AND Bloomberg would go down in History as one of the greatest Americans ever.........

Your thinking is truly brilliant..........

[ToxMarz]

12. Unfortunately Trump debtors would probably see it as proof

that Trump is a safe risk, cause look they got paid. Then turn around and lend the money back to him to bail him out. Anyone who is a Trump debtor at this point is not playing the text book fnlinance game, they are all working angles and just as shady as Trump. And they are usually playing with other people's money,anyway, so capitalize the profits, socialize the losses.

[Hearthrob]

13. Money to burn

Munchkin, Ross, possibly thousands of cabinet slime and powerful wannabes, Kochs etc. plus the whole damn family may fill up the piggy bank for him with his access to Russian money.

[Scotch-Irish]

22. That's a great idea!!!

Someone needs to send that idea to his campaign. Bloomberg could OWN donald trumpski.

[TommyCelt]

8. Grrrrrrrrr

I want his goddamned tax returns public.

[Martin Eden]

10. So it had nothing to do with Russian oligarchs?

I think there may be more to this than a desire to keep an American celebrity client.

[dmr]

15. I agree. It's not true. The American celebrity client is a lame excuse.

If that was the case, there would be other American celebrity clients. They need a better imagination, or just outright tell the truth - which probably isn't physcially safe for them to do so. Who knows? But I don't buy it.

[DENVERPOPS]

19. I disagree

I disagree.....D bank was needed as a way to "legitimately" launder Russian Mob and Oligarch money to people like Trump and other people in nations that they wanted to bribe and extort into doing what Putin wanted done.

And then, there is the story about D Bank, putting the son of a USSC justice (Kennedy) in charge of "anything Trump", and then that Supreme Court Justice suddenly resigning later to facilitate Trump installing his favorite Uber Rich, extreme right wing individual to the Supreme Court. Did daddy want to make a deal with Trump that his son wouldn't be prosecuted for international banking fraud when everything came to light???????

[Martin Eden]

20. Actually, we agree

I was expressing skepticism about the explanation in the OP.

[ancianita]

11. Deutschebank just cannot stop their bullshit PR cover for the fact that they'll take ANY money from

anyone. Period.

No head of Deutschebank will turn down millions and billions. Never.

They just want to not lose their banking charter in the West, so they keep this pretense of "caring" thrown out there for media consumption.

They're waiting around for some authority to pull their charter, and while no one does, they keep pumping billions through and making their own wealth from it all.

It's not about the facts anymore. It's about enforcement.

Same for our government, banks and corporations.

[MarcA]

16. Still moving around some old money. Ja. n/t

[TexasBushwhacker]

18. All of Trump's loans are guaranteed by Russia

It's a no lose situation from Duetche Bank.