Old joke, At one time Dan Quail made a speech before Congress. A strange sound was heard, who knew that over 200 pairs of eyes rolling at the same time could be heard.
A new report from The New York Times’ David Enrich highlights dubious dealmaking and questionable partnerships between President Donald Trump and Deutsche Bank.
While numerous banks viewed Trump’s past bankruptcies as a sign to steer clear of the real estate mogul, Deutsche Bank used him and his businesses to rapidly ascend the financial sector.
The Times report details how Deutsche Bank gave Trump special treatment over several years, and how the millionaire leveraged the partnership to secure unorthodox credit lines.
Here are the five biggest bombshells from the report, from Trump flying bankers in his private jet to the bank holding years of hidden tax returns.
Trump frequently used “goodwill” claims to back up his loans, promising that his sizable net worth was enough to guarantee repayment for massive credit lines. Yet, the Times’ story reveals how Trump’s stated net worth landed far higher than what his finances showed.
While applying for the Chicago tower loan, Trump told the bank he was worth more than $3 billion, using the lofty figure to support his claim that he’d easily repay the borrowed sum.
A Deutsche Bank study of Trump’s finances found he was worth about $788 million, according to The Times. While the incorrect claim would typically disqualify a loan application, Deutsche Bank pushed forward and loaned Trump $640 million for the project.
In a jaw-dropping opinion issued by the 7th U.S. Circuit Court of Appeals in Chicago on January 23, Judge Frank Easterbrook—a longtime speaker for the conservative Federalist Society and someone whom the late Justice Antonin Scalia favored to replace him on the U.S. Supreme Court—rebuked Attorney General William Barr for declaring in a letter that the court’s decision in an immigration case was “incorrect” and thus dispensable.
Barr’s letter was used as justification by the Board of Immigration Appeals (the federal agency that applies immigration laws) to ignore the court’s ruling not to deport a man who had applied for a visa to remain in the country.
As Washington reels from the surprise withdrawals of Roger Stone‘s prosecutors, apparently triggered by Trump’s intervention in the upcoming sentencing of his long-time adviser, the Easterbrook broadside offers another window into the way the Trump administration is violating the division of power between the executive and judicial branches.
They are all looking up at where the newest and most brilliant, blah blah blah “head” on Mount Rushmore is going to be, or maybe it is the latest destruction of something people hold dear to them. Moooove over guys.
sergioandrade Premium Member almost 5 years ago
Old joke, At one time Dan Quail made a speech before Congress. A strange sound was heard, who knew that over 200 pairs of eyes rolling at the same time could be heard.
Walter Kocker almost 5 years ago
Apt.
45Nasrad almost 5 years ago
Looks like their thinking about the can’t-idates the Dems have
Ignatz Premium Member almost 5 years ago
George Washington would spit on Donald Trump.
Silly Season almost 5 years ago
A new report from The New York Times’ David Enrich highlights dubious dealmaking and questionable partnerships between President Donald Trump and Deutsche Bank.
While numerous banks viewed Trump’s past bankruptcies as a sign to steer clear of the real estate mogul, Deutsche Bank used him and his businesses to rapidly ascend the financial sector.
The Times report details how Deutsche Bank gave Trump special treatment over several years, and how the millionaire leveraged the partnership to secure unorthodox credit lines.
Here are the five biggest bombshells from the report, from Trump flying bankers in his private jet to the bank holding years of hidden tax returns.
Trump frequently used “goodwill” claims to back up his loans, promising that his sizable net worth was enough to guarantee repayment for massive credit lines. Yet, the Times’ story reveals how Trump’s stated net worth landed far higher than what his finances showed.While applying for the Chicago tower loan, Trump told the bank he was worth more than $3 billion, using the lofty figure to support his claim that he’d easily repay the borrowed sum.
A Deutsche Bank study of Trump’s finances found he was worth about $788 million, according to The Times. While the incorrect claim would typically disqualify a loan application, Deutsche Bank pushed forward and loaned Trump $640 million for the project.
https://markets.businessinsider.com/news/stocks/biggest-bombshells-trump-deutsche-bank-lending-new-york-times-report-2020-2-1028908722
Silly Season almost 5 years ago
In a jaw-dropping opinion issued by the 7th U.S. Circuit Court of Appeals in Chicago on January 23, Judge Frank Easterbrook—a longtime speaker for the conservative Federalist Society and someone whom the late Justice Antonin Scalia favored to replace him on the U.S. Supreme Court—rebuked Attorney General William Barr for declaring in a letter that the court’s decision in an immigration case was “incorrect” and thus dispensable.
Barr’s letter was used as justification by the Board of Immigration Appeals (the federal agency that applies immigration laws) to ignore the court’s ruling not to deport a man who had applied for a visa to remain in the country.
As Washington reels from the surprise withdrawals of Roger Stone‘s prosecutors, apparently triggered by Trump’s intervention in the upcoming sentencing of his long-time adviser, the Easterbrook broadside offers another window into the way the Trump administration is violating the division of power between the executive and judicial branches.
https://www.politico.com/news/magazine/2020/02/12/a-conservative-judge-draws-a-line-in-the-sand-with-trump-administration-114185
RobinHood almost 5 years ago
Look! Up in the sky, it’s a bird!Iit’s a plane! It’s Superman! BTW , that guy that saw the plane, what was he so excited about?
RobinHood almost 5 years ago
Happy Presidents Day
John9 almost 5 years ago
They are all looking up at where the newest and most brilliant, blah blah blah “head” on Mount Rushmore is going to be, or maybe it is the latest destruction of something people hold dear to them. Moooove over guys.
Durak Premium Member almost 5 years ago
Happy Non-Impeached President’s Day!
Kip Williams almost 5 years ago
Don’t look up. Something’s coming down.
dlaemmerhirt999 almost 5 years ago
They are upset that donny is their NUMBER ONE FEAR: A dictator(tot).
STACEY MARSHALL Premium Member almost 5 years ago
Rolling over in their graves too.