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NYT Report Shines Light Into Deutsche Bank's Shady Deals With Trump

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NYT Report Shines Light Into Deutsche Bank's Shady Deals With Trump

2020-02-18 05:14:191 Oct 2018 01:53 AM EST

A new New York Times report highlights dubious dealmaking between President Donald Trump and Deutsche Bank. Numerous banks viewed Trump's past bankruptcies as a sign to steer clear of the real estate mogul. However, Deutsche Bank used him and his businesses to rapidly ascend the financial sector. According to Business Insider, Deutsche Bank gave Trump special treatment over several years. Trump leveraged the partnership to secure unorthodox credit lines. Meanwhile, Deutsche Bank has also had access to Trump's tax returns for years. Deutsche Bank offered Trump unique instruments for keeping his financial information hidden from regulators and placing risk of default on outside investors. The tools allowed Trump to use other investors' capital to make deals in Eastern Europe and South America. Effectively, Trump used cash from other Deutsche Bank clients to cover his side of a purchase.

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