Drudge Retort: The Other Side of the News
Saturday, February 02, 2019

It was early 2016, and Donald Trump 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. To finance his business's growth, Mr. Trump turned to a longtime ally, Deutsche Bank. ... In the end, Deutsche Bank did something unexpected. It said no.

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Mr. Trump's loan request, which has not been previously reported, set off a fight that reached the top of the German bank, according to three people familiar with the request.... Senior officials at the bank, including its future chief executive, believed that Mr. Trump's divisive candidacy made such a loan too risky, the people said. Among their concerns was that if Mr. Trump won the election and then defaulted, Deutsche Bank would have to choose between not collecting on the debt or seizing the assets of the president of the United States.

Deutsche Bank, was eager to gain a foothold in the lucrative American market and more tolerant of risk than many of its rivals. In 1998, it lent Mr. Trump $125 million for renovations on a Wall Street skyscraper. The relationship blossomed, and over the next 17 years, Deutsche Bank lent or participated in loans to Mr. Trump and his companies totaling more than $2.5 billion.

Nothing here remotely is claimed to be illegal or suspicious on its face. But the fact that the then GOP presidential candidate sought a substantial business loan from a foreign-owned bank should have been disclosed to the voters for their consideration as well.

#1 | Posted by tonyroma at 2019-02-02 04:37 PM | Reply

So Trump was looking for money and Russia was looking for a puppet?

#2 | Posted by Tor at 2019-02-02 06:57 PM | Reply

Trump was too bad a risk for Deutsche Bank, but not for Republicans.

#3 | Posted by Corky at 2019-02-02 08:12 PM | Reply

Why would a self proclaimed "billionaire" need a loan????

#4 | Posted by aborted_monson at 2019-02-02 08:23 PM | Reply

"Why would a self proclaimed "billionaire" need a loan????"

When you're rich you never risk your own money.

#5 | Posted by Hagbard_Celine at 2019-02-02 08:42 PM | Reply | Newsworthy 1

"Why would a self proclaimed "billionaire" need a loan????"

When you're rich you never risk your own money.

#5 | POSTED BY HAGBARD_CELINE

Or you are nothing close to a billionaire.

#6 | Posted by aborted_monson at 2019-02-02 09:50 PM | Reply

Trump bragged that his campaign for the nomination was going to be self-funded.

I'm guessing that the purpose of this loan was an off-the-cuff way to reimburse himself without anyone finding out that he lied about self-funding. The loan could then be paid off from campaign donations without anybody being the wiser.

It's probably not illegal . . . it's just Trump's natural instinct to be sneaky and disingenuous in everything he does.

#7 | Posted by Twinpac at 2019-02-03 04:16 AM | Reply

Also removed the labels from his pillows!

#8 | Posted by Greatamerican at 2019-02-03 04:21 AM | Reply

Or you are nothing close to a billionaire.

More to the point, it reinforces the smoke and mirrors nature of Donald Trump and the Trump Organization's financial existence. Trump's populist appeal hinged, in part, on being so wealthy that he knew all the loopholes and couldn't be bought or corrupted. But there is little indication that Trump has anything like the sort of money he professes to have. Billionaires don't write out $70,000 cash bribes in monthly installments. People with the resources of a Tom Steyer or Michael Bloomberg don't need to take out a loan if they spend a comparatively paltry $30 million or $40 million of their own money on a vanity political project. They just write out the check and think nothing of it.

Honest rich people also don't have trouble getting loans even if they do require them. Banks are happy to lend to them because they're guaranteed to get their money back plus a heft interest payment. But even before running for president, Donald Trump was well-known in the banking community as such a high default risk that none but Deutsche Bank would lend to him–and even they wouldn't do it in 2016 because they figured they might not ever be able to recoup it if he actually won the presidency.

David Atkins

#9 | Posted by tonyroma at 2019-02-03 04:02 PM | Reply | Newsworthy 2

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