News that I missed over the course of the election and aftermath, was this stinger from Reuters (looks like pressure from Senator Warren did some good). And notice, this article was published BEFORE Trump lost the election.
Boy, it feels good to write that. So good, that I’m going to write it again. Trump lost the election.
By Matt Scuffham, Tom Sims, John O’Donnell |
NOVEMBER 3, 2020 1:04AM UPDATED 6 DAYS AGO
NEW YORK/FRANKFURT (Reuters) - Deutsche Bank AG is looking for ways to end its relationship with President Donald Trump after the U.S. elections, as it tires of the negative publicity stemming from the ties, according to three senior bank officials with direct knowledge of the matter.
Deutsche Bank has about $340 million in loans outstanding to the Trump Organization, the president’s umbrella group that is currently overseen by his two sons, according to filings made by Trump to the U.S. Office of Government Ethics in July and a senior source within the bank. The three loans, which are against Trump properties and start coming due in two years, are current on payments and personally guaranteed by the president, according to two bank officials.
WARREN’S WARNING
The German bank, which first started lending to Trump in the late 1990s, has been dragged into congressional and other investigations into the real estate mogul-turned-politician’s finances and alleged Russia connections.
[...]
If the Republican president loses, and Democrats take control of the White House and Congress, senior Deutsche Bank executives believe congressional investigations that have stalled amid a court battle over access to Trump’s financial records could be rejuvenated, the three bank officials said.
DIFFERENT SCENARIOS
If Trump is not in office, Deutsche Bank executives feel that it would be easier for them to demand repayment, foreclose if he is not able to pay it off or refinance, or try to sell the loans, according to two of the three bank officials.
www.reuters.com/...
In meetings in recent months, a Deutsche Bank management committee that oversees reputational and other risks for the lender in the Americas region has discussed ways in which it could rid the bank of these last vestiges of the relationship, two of the three bank officials said. The bank has over the years lent Trump more than $2 billion, one of the officials said.
One idea that has come up in the meetings: sell the loans in the secondary market, two of the bank officials said. But one of the officials said that idea has not gained traction, in part because it is not clear who would want to buy the loans and the attendant problems that come with it.
Trump will likely be spending lots of his dwindling cash on lawyers. The Manhattan DA and the NY AG will be coming after him hard. As will many of the women he allegedly raped and/or molested. Rudy G. can’t possibly do it all pro-”bozo”, and Bill Barr will no longer be available to him.
Trump’s businesses raked in $1.9 billion during his first three years in office. Much of that in illegal emoluments. He is currently up to date on his loan payments to Deutsche Bank, but how can that continue when the emolument-tap runs dry?
And these TrumpOrg loans…….all $340mil of them……...are personally guaranteed by Trump himself. Which, as far as I know, means that he can’t simply bankrupt his business and get away with it. He will be responsible for paying all that money back.
As of January 20th, 2021:
No more pardon-power.
His income will diminish.
His legal vulnerability will skyrocket.
He will no longer be receiving the legal-protections afforded to a president.
And no more Attorney General illegally fighting his battles for him.
Let’s hope he’s f*cked
Yep, Donnie lost the election.
He is a……………