Trump's Word

T

Tranquillus in Exile

New member
In 2005 the great deal-maker raised a loan of $640 million to build a hotel and mega-tower in Chicago. He obtained the loan from Deutsche Bank on the strength of his personal guarantee.

In 2008 $40 million of the loan fell due. Trump refused to pay a cent. Instead he sued Deutsche Bank for $3 billion, claiming they helped cause the financial crash of 2008 (which unfortunately prevented him paying).

Amazingly, the bank's "private wealth" division continued lending him hundreds of millions. Nobody knows why. :dunno:

https://www.theguardian.com/busines...d-trump-became-deutsche-bank-biggest-headache
 
Could explain why he doesn't want anyone to see his financials. Then there's this, from your article:

"Bloomberg reported that Deutsche was now trying to restructure Trump’s $300m debt, which is guaranteed by four of his properties. The difficulty is obvious: conflict of interest. The president owes the bank money. At the same time the Trump administration and its Department of Justice is investigating Deutsche over its Russian money laundering scheme. "
 
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