During his presidential campaign, Donald Trump sought a loan from Deutsche Bank but was rejected.
“It was early 2016, and he was lending tens of millions of dollars to his presidential campaign and had been spending large sums to expand the Trump Organization’s roster of high-end properties,” The Times explained.
“To finance his business’s growth, Mr. Trump turned to a longtime ally, Deutsche Bank, one of the few banks still willing to lend money to the man who has called himself ‘The King of Debt.’”
Bank officials were concerned that Trump would default on the loan if he won the presidency. He would have.
Trump has a history of not paying back loans and contractors. His game plan is simple enough: get sued, fight it in court and settle for less than what is owed.
President Trump had already been sued in the past by Deutsche Bank for defaulting on a loan and Trump counter-sued arguing that they were partially responsible for the recession in 2008 and that’s why he couldn’t afford to pay back the loan.
The House Financial Services Committee which is overseen by Rep. Maxine Waters will be looking into loans from Deutsche Bank to President Trump. Deutsche Bank recently was fined hundreds of millions of dollars for laundering money for Russian oligarchs.
In addition, former Supreme Court Justice Anthony Kennedy’ son Justin works for Deutsche Bank. Current Supreme Court Justices Neil Gorsuch and Brett Kavanaugh were clerks for Justice Kennedy.
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