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I have a few stray thoughts on @DeutscheBank and @realDonaldTrump in the wake of yesterday& #39;s story about the Chicago debacle.
Warning: This thread raises many more questions than it answers. There is still *so much* we don& #39;t know about Trump& #39;s finances. https://www.nytimes.com/2020/10/27/business/trump-chicago-taxes.html">https://www.nytimes.com/2020/10/2...
Warning: This thread raises many more questions than it answers. There is still *so much* we don& #39;t know about Trump& #39;s finances. https://www.nytimes.com/2020/10/27/business/trump-chicago-taxes.html">https://www.nytimes.com/2020/10/2...
1. Why did DB release collateral on a Trump loan the day after the 2016 election?
It might be coincidence.
But recall that DB swung into cleanup mode post-election. It sold a big Russian loan. It banned staff from publicly saying “Trump.” It considered modifying Trump’s loans.
It might be coincidence.
But recall that DB swung into cleanup mode post-election. It sold a big Russian loan. It banned staff from publicly saying “Trump.” It considered modifying Trump’s loans.
What makes this even weirder: DB on 11/9/16 released more collateral than it had to. Trump had repaid $24M; DB released $56M.
I’m told this was a *clerical error* that DB corrected. But it adds to the impression that this was part of the bank& #39;s effort to get distance from Trump.
I’m told this was a *clerical error* that DB corrected. But it adds to the impression that this was part of the bank& #39;s effort to get distance from Trump.
2. It’s easy to forget that the DOJ has been criminally investigating DB for Russian money-laundering since the Obama era. That case had been close to completion in 2016. It& #39;s gone quiet under Trump, to the pleasant surprise of DB execs.
Why?
Why?
There& #39;s another investigation.
We reported in August that Trump& #39;s personal banker, Rosemary Vrablic, bought an apartment in 2013 from a Kushner-linked company.
DB opened an investigation, which I& #39;m told is ongoing after nearly 3 months.
Again: Why? https://www.nytimes.com/2020/08/02/business/kushner-deutsche-trump-rosemary-vrablic.html">https://www.nytimes.com/2020/08/0...
We reported in August that Trump& #39;s personal banker, Rosemary Vrablic, bought an apartment in 2013 from a Kushner-linked company.
DB opened an investigation, which I& #39;m told is ongoing after nearly 3 months.
Again: Why? https://www.nytimes.com/2020/08/02/business/kushner-deutsche-trump-rosemary-vrablic.html">https://www.nytimes.com/2020/08/0...
3. Chicago Unit Acquisition LLC. This is a Trump-owned company that in 2012 lent >$50M to Trump at a relatively high interest rate.
Why would Trump lend money to himself? Many reporters (including @russchoma @Fahrenthold @susannecraig) have been puzzling over this for years.
Why would Trump lend money to himself? Many reporters (including @russchoma @Fahrenthold @susannecraig) have been puzzling over this for years.
One theory I have is that Trump was using this LLC to acquire units in his Chicago building (as the name implies). But why then would the LLC be lending to Trump?
@MotherJones has written that maybe Trump used it to buy debt and avoid taxes. Not impossible.
@MotherJones has written that maybe Trump used it to buy debt and avoid taxes. Not impossible.
