Germany-based Deutsche Bank has the dual distinction of having spent decades suspiciously loaning money to Donald Trump even when no other bank would, and having been recently caught in a years long pattern of laundering Russian money into the hands of clients in New York. Now the bank is trying everything it can to avoid providing the final dots connecting the money train between Trump and Russia. But the Democrats in Congress have a message for Deutsche Bank: nice try.
Deutsche Bank has tried to claim that privacy laws prevent it from being able to legally turn over its own records regarding the loans it’s made to Donald Trump. But the Democrats on the Financial Services Committee have fired back at Deutsche, according to Reuters (link), blowing holes in the assertion. In fact they’re even using Trump’s own words, in which he claims that he has no financial involvement with Russia, as the basis for rejecting Deutsche’s privacy claim.
It’s already known that these loans from Deutsche to Donald Trump are in the hundred of millions and the the loan guarantees run north of a billion dollars. It’s also known that Deutsche continued making these loans to Trump even after his long string of corporate bankruptcies caused most other banks to decide that he was too poor of a credit risk. And it’s known that Deutsche continued loaning money to Trump even after the bank itself fell on hard time, and should not reasonably have been making such loans.
This all points to the suspicion that the money being laundered by Deutsche from Russia into New York City is the same money that Deutsche has been “loaning” to Donald Trump. If so, he’ll be exposed as a criminal financial puppet of Russia, and he’ll be effectively finished. No wonder the Democrats are pushing so hard to pressure Deutsche to give up its secrets about him.
Bill Palmer is the publisher of the political news outlet Palmer Report