Don Trump may have his tax returns hidden deep in a gold-painted vault, but we have been given a peek at his financial disclosure statement. From the statement, it’s hard to make out Trump’s real worth. Yes, there are a lot of assets, but many of them are part of complex business arrangements. And not everything on the statement is written in black ink.
... the presumptive GOP nominee also has a tremendous load of debt that includes five loans each over $50 million. (The disclosure form, which presidential candidates must submit, does not compel candidates to reveal the specific amount of any loans that exceed $50 million, and Trump has chosen not to provide details.) Two of those megaloans are held by Deutsche Bank, which is based in Germany but has US subsidiaries.
Because Trump chose to write only the amount he must disclose, we can’t know the real extent of his indebtedness to Deutsche Bank. It’s at least $100 million, but Trump could be into them for much more. Is it $300 million? A billion? More? He's not telling.
And this prompts a question that no other major American presidential candidate has had to face: What are the implications of the chief executive of the US government being in hock for $100 million (or more) to a foreign entity that has tried to evade laws aimed at curtailing risky financial shenanigans, that was recently caught manipulating markets around the world, and that attempts to influence the US government?
Trump has been making the argument that because he’s rich, he’s free from the potential corrupting influence of raising money. But what his financial documents show is that Trump comes pre-corrupted. He’s already over a big, big barrel to people who are already known to be gaming the system.
Deutsche Bank is clearly his favorite lender, and Trump's financial empire has become largely dependent on his relationship with this major player on Wall Street and the global markets.
If Trump was president, he’d be able to look out the window of the White House, and watch the new Trump Hotel rising only a few blocks away, with every bit of it financed by a foreign bank. Any action that affected that bank would directly affect Trump. Just last year, Deutsche Bank was forced to pay a $2.5 billion fine after it was caught manipulating interest rates.
Would Donald Trump levy that fine against his biggest business partner?
You think other candidates are open to the suggestions of people who give them donations? Just think about how careful Trump would be for the people he owes—at least—$335 million.
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