Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Other banks refused to deal with Trump long ago, but now even Deutsche Bank is backing off, probably just one step ahead of the cops.
Donald Trump’s longtime banker at Deutsche Bank AG will be stepping down from the German lender, with the move coming as the bank looks for ways to cut its relations with the U.S. president.
Rosemary Vrablic, a managing director and senior banker in the lender’s wealth management division, recently handed in her resignation, which the bank accepted effective as of year-end, Deutsche Bank spokesman Dan Hunter said in an emailed statement.
Few Trump staunch supports will comment as they want only Dem mocking threads to post in Conspiracy Theories on them...
Title; Both Of Trump's Deutsche Bank Lenders Abruptly Resign Amid Multiple Investigations. https://www.ibtimes.com/both-trumps-...ations-3107832
From link.
- Deutsche began to lend to Trump in 1998 after he failed to receive loans from other financial agencies due to his poor business record. The New York Times noted in February that Deutsche had lent Trump more than $2 billion over the course of two decades.
- Vrablic also dealt with Jared Kushner, Trump's son-in-law. A real estate deal she made with him in 2013 is under investigation internally by Deutsche Bank for possible conflicts of interest after she purchased a home from a company Kushner had a stake in, the New York Times reported.
- Two other people involved with Trump's Deutsche Bank dealings have killed themselves, one as recently as last year.
- Trump’s loans come due in 2023 and 2024, and if Trump can’t pay them back the contract allows Deutsche Bank to start seizing his property. Deutsche Bank has roughly $340 million in loans outstanding to the Trump Organization.
https://therealdeal.com/2020/10/28/t...debt-ny-times/
Title; Trump strong-armed lenders to forgive Chicago tower debt: NY Times
from link.
- Duetsch Bank ended up forgiving Trump's Chicago tower debt: NY Times
Investigation into president’s taxes show how he wiggled out of obligations
- When the Great Financial Crisis threatened the biggest thing he had ever built, Donald Trump strong-armed his lenders into letting him off the hook on $270 million in loans, according to the New York Times.
- The tactic was indicative of how, over the course of his real estate career
- The president has been able to maneuver out from under significant debts and to use losses to reduce his tax bills.
In September 2008 Trump was nearing completion on the 92-story Trump International Hotel & Tower in Chicago, a project he hoped would reestablish the Trump Organization as a top developer. But as the financial crisis worsened, Trump fell behind on payments to his lenders:
- Deutsche Bank, which had provided the bulk of the project’s $700 million in construction debt, and Fortress Investment Group. (Fortress chopped up the loan and sold a piece to Dune Capital Management, the firm founded by Trump’s Treasury secretary, Steven Mnuchin.)
But instead of foreclosing on the property, Trump’s lenders in 2010 told the court they had reached a settlement.
According to the Times,
- Fortress forgave a large portion of the money Trump owed. And even though the newspaper reported that Deutsche Bank executives vowed never to work with the developer again,
- Trump's - son-in-law Jared Kushner persuaded an arm of the bank to lend to Trump so he could pay off another arm.
Title; Trump’s $287M loans that he did not pay were forgiven' https://news.yahoo.com/trump-287m-lo...233435951.html
From link.
- The New York Times obtained the tax records of Donald Trump and most of the debt had to do with a Chicago real estate deal
- President Donald Trump’s federal income taxes have revealed that Deutsche Bank and other lenders have forgiven about $287 million in debt that he did not pay for the first time since 2010. The New York Times obtained the documents that confirmed it.
- The vast majority of this unpaid debt was related to a 92-floor skyscraper in Chicago that was completed in 2008. Trump had hoped to turn the property into another one of his real estate marquee dwellings.
Deutsche Bank bankrolled the construction of his failed Chicago Trump Tower . When the note came due Trump sued them for predatory lending practice which eventually got settled. I ever understood why Deutsche continued doing business (perhaps salvaging other loans) and how such an experienced business man got suckered by predatory lending practice. Actually I do. Trump was never a very good business man.
So it use to be the common refrain to deflect to Hillary or Obama; now we're in for: "but, but, Biden" ?
This is gonna play out just like the Hillary and Obama deflections did - ignored completely!
Well the libs can't seem to refrain from deflecting to Trump when Hillary or Obama or Biden is brought up...so get either get over it or get used to it.
Other banks refused to deal with Trump long ago, but now even Deutsche Bank is backing off, probably just one step ahead of the cops.
Donald Trump’s longtime banker at Deutsche Bank AG will be stepping down from the German lender, with the move coming as the bank looks for ways to cut its relations with the U.S. president.
Rosemary Vrablic, a managing director and senior banker in the lender’s wealth management division, recently handed in her resignation, which the bank accepted effective as of year-end, Deutsche Bank spokesman Dan Hunter said in an emailed statement.
Another source of financing is the rich oligarchs of Russia!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Few Trump staunch supports will comment as they want only Dem mocking threads to post in Conspiracy Theories on them...
