Deutsche Bank loaned over $2 billion to Trump: report

Deutsche Bank reportedly loaned more than $2 billion to President Trump Donald John TrumpJoint Chiefs chairman denies report that US is planning to keep 1K troops in Syria Kansas Department of Transportation calls Trump 'delusional communist' on Twitter Trump has privately voiced skepticism about driverless cars: report MORE over multiple decades while he was a real estate developer.

The New York Times reported Monday, based on interviews with more than 20 bank officials, that the bank repeatedly loaned money to Trump despite multiple business-related "red flags."

The report, which details the history between Trump and the bank, comes as congressional committees and the New York attorney general are investigating Trump's financial ties to the bank.

In attempting to secure loans from the bank, Trump often exaggerated his wealth, according to the Times.

When Trump was trying to get a loan from the bank to build a skyscraper in Chicago, he reportedly said his net worth was $3 billion. The bank, however, reportedly concluded that he was worth about $788 million.

But the bank still agreed in 2005 to lend Trump more than $500 million for the project, a decision that was made after Trump used flights on his private plane in an attempt to woo the bankers, according to the Times.

Years later, in 2010, Trump again turned to Deutsche Bank for a loan as he attempted to buy the Doral Golf Resort and Spa for $100 million. The bank again reportedly determined that Trump was exaggerating his wealth, this time concluding that he had overvalued some of his real estate assets by up to 70 percent.

Nonetheless, the bank approved both that loan and another loan of $48 million for the same Chicago skyscraper he had secured a loan for in 2005.

The bank also reportedly determined in 2014 that Trump exaggerated his wealth as he was looking to secure a loan to make a bid for the NFL's Buffalo Bills.

garrencurry on March 19th, 2019 at 01:34 UTC »

Do not forget through all of this, the son of a Supreme Court Justice was the one giving loans to Trump.

That Justice was presumably blackmailed into his retirement as a result.

EDIT:

Remember this timeframe? Kennedy was hiring law clerks and then suddenly disappeared after having a conversation with Trump. He wasn't talking about retiring "for so long" like everyone claims now.

Supreme Court Justices Ruth Bader Ginsburg and Anthony Kennedy have already hired multiple law clerks for future terms, sending strong signals they're not going anywhere anytime soon.

Everyone on the news was asking why he suddenly changed his mind, no one knew and just left it at a giant "????", two days later the news broke that his son was working at the bank.

That time-frame was muddied by Trump announcing he was meeting with Putin, Everyone suddenly chanting Trump gets a Nobel for his North Korea summit, and Disney was suddenly OK'd by the justice dept to buy 21st century fox

Justin Kennedy was the global head of the real-estate capital markets division of Deutsche Bank, which loaned to Trump when other banks wouldn't.

He was giving loans to a person who was blacklisted from the entire global financial system.

The circumstances of Justice Kennedy’s resignation must be investigated by the Senate Judiciary Committee before any replacement is considered. The Constitution does not give Trump the power to use underhanded means to induce Supreme Court resignations. - Richard W. Painter (Minn.), Democratic primary candidate for U.S. Senate, in a tweet, June 30, 2018

Donald Trump spoke those words to Supreme Court Justice Anthony Kennedy, shortly after ending his first speech to a joint session of Congress in February of 2017 according to a New York Times report that was published on Thursday evening. Trump was referring to Kennedy’s son, Justin, a banker who worked at Deutsche Bank for over a decade. Deutsche Bank was, notably, the only important financial institution that would work with Trump after his bankruptcies in the 1990s, lending him over $1 billion. Last year, the Financial Times reported that Kennedy’s son was “one of Mr Trump’s most trusted associates over a 12-year spell at Deutsche.” New York fined Deutsche Bank $425 million for its role in a Russian money laundering scheme in January of 2017. Kennedy announced that he was retiring after thirty years on the Supreme Court on Wednesday.

“Mr. Trump was apparently referring to Justice Kennedy’s son, Justin. The younger Mr. Kennedy spent more than a decade at Deutsche Bank, eventually rising to become the bank’s global head of real estate capital markets, and he worked closely with Mr. Trump when he was a real estate developer, according to two people with knowledge of his role.

“During Mr. Kennedy’s tenure, Deutsche Bank became Mr. Trump’s most important lender, dispensing well over $1 billion in loans to him for the renovation and construction of skyscrapers in New York and Chicago at a time other mainstream banks were wary of doing business with him because of his troubled business history.”

dismayedcitizen on March 19th, 2019 at 01:00 UTC »

he reportedly said his net worth was $3 billion. The bank, however, reportedly concluded that he was worth about $788 million

So HE LIED TO THE BANK and they not only let him get away with it, they continued to give him money?

TheBoldNorthern on March 19th, 2019 at 00:45 UTC »

"When Trump was trying to get a loan from the bank to build a skyscraper in Chicago, he reportedly said his net worth was $3 billion. The bank, however, reportedly concluded that he was worth about $788 million."

And

"The bank also reportedly determined in 2014 that Trump exaggerated his wealth as he was looking to secure a loan to make a bid for the NFL's Buffalo Bills."