Deutsche Bank and Trump

Deutsche Bank, Germany's largest bank, has been having a bad month, and that is starting to spill onto Trump's Presidency.
A month ago the Deutsche Bank-Commerzbank merger talks collapsed.
The following day the bank reported troubling losses.

Deutsche Bank’s struggling investment bank slid further in to the red at the start of this year, suffering the second lossmaking quarter in a row as revenue at the division fell twice as fast as costs.

The corporate and investment banking unit, which despite shrinking for years still accounts for more than half of group revenue, generated a pre-tax loss of €88m in the first quarter, compared with €203m in pre-tax profit a year earlier... Analysts on average expected a pre-tax loss of only €15m.

Deutsche Bank has been losing money for years, but now it is getting down to crisis levels. There's been multiple rounds of layoffs, while share prices have hit record lows.


All things considered, is it really that surprising that a failing, corrupt bank is directly linked to Trump?

Deutsche Bank shares were marked 3.16% lower on the session in Frankfurt and trading at an all-time low of €6.63 each by mid-day, with Thursday's AGM looming and the New York Times reporting that bank staff tasked with anti-money laundering responsibilities had flagged suspicious transactions linked to Trump-controlled accounts in 2016 and 2017.

The Times also reported that Deutsche Bank management prevented staff from reporting the concerns to U.S. authorities, with one employee claiming she was fired for red-flagging the moves in and out of accounts tied to the now-defunct Trump Foundation.

Well knock me over with a feather.
I'm shocked that there is gambling going on in this casino!

Naturally Trump's immediate concern was to get to the bottom of the misdeeds at this shady bank.

With his relationship with Deutsche Bank under increasing scrutiny, President Donald Trump, in a move not previously reported, has recently shifted some of his banking business from this global institution to a small and relatively new bank in South Florida. As Democrats in Congress have requested information from Deutsche Bank about its dealings with Trump—the firm has loaned him billions over the years—he appears to have closed his brokerage accounts with the German company and has deposited millions of dollars in the Coral Gables–based Professional Bank, which last year gave Trump an eight-figure loan to buy a property adjacent to his private club Mar-a-Lago.

I gotta say, this doesn't look suspicious at all. Nope. Not a bit.
It's just a coincidence that Trump moved his financial business out of DB right around the time that a federal judge denied Trump's request to block congressional subpoenas to Deutsche Bank for his financial records.
Now, with Trump separated from Deutsche Bank, Trump's Treasury Department is suddenly interested in their criminal doings. I'm confident that they will get to the bottom of things.

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Wink's picture

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the little things you can do are more valuable than the giant things you can't! - @thanatokephaloides. On Twitter @wink1radio. (-2.1) All about building progressive media.

@Wink fake news no doubt, that Deutsche Bank was basically acting as a conduit through which Russian money was funneled to Trump. There are reasons no other bank would lend Trump money. You'd have to be crazy to loan Trump that kind of money and expect to get it back.

But it might be a viable investment as part of a money laundering operation. Most Russian money laundering went through real estate and casinos. Just because Russia-gate is a contrived tool to absolve Hillary and repeat the mistake in 2020 doesn't make Trump honest. Sadly, the peak money laundering period was the early 90s and the statute of limitations may have come into play.

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snoopydawg's picture

son? The one who recently retired. Anyway I thought I read that there was a connection to his son who was in charge of Trump's transactions at Deutsche bank and there was some quid pro quid between all of them before he stepped down. Anyone know what the hell im speaking about? Was it Kennedy?

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America is a pathetic nation; a fascist state fueled by the greed, malice, and stupidity of her own people.
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So now Another of Trump's former business partners are losing money. When will they ever learn?
Oh, and -88 million euros in a quarter? That would be a bad week for Uber, sofa change for Amazon. What's the problem, won't the US taxpayers bail them out?

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A PROUD Hillary hater since 1993

karl pearson's picture

@snoopydawg Here's some information on the relationship between Trump and retired Supreme Court Justice Anthony Kennedy.

The son of Supreme Court Justice Anthony Kennedy was leading a real-estate division of Deutsche Bank as it gave President Donald Trump over $1 billion in loans to finance his real-estate projects when other banks wouldn't, The New York Times reported Thursday.
Justin Kennedy, the former global head of Deutsche Bank's real-estate capital markets division, was one of Trump's close business associates, The Times reported, citing two sources familiar with the matter.
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snoopydawg's picture

@karl pearson

Yes this is what I was trying to remember the details of. There was a bit more that made it seem like Kennedy stepped down that was related to his son and that was why he retired during Trump's tenure so he could appoint his replacement. It seemed very fishy at the time.

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America is a pathetic nation; a fascist state fueled by the greed, malice, and stupidity of her own people.
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