Socio-Economics History Blog

Socio-Economics & History Commentary

As No One Watched, Trump Pardoned 5 Megabanks For Corruption Charges—Who He Owes Millions

True of false? You decide.

  • As No One Watched, Trump Pardoned 5 Megabanks For Corruption Charges—Who He Owes Millions
    by Rachel Blevins, http://thefreethoughtproject.com/
    Trump followed in the footsteps of Obama and pardoned five megabanks—one of which he reportedly owes up to $300 million in outstanding loans.

    While Americans celebrated the holidays, President Trump followed in the footsteps of his predecessors by acting in the interest of Wall Street and using the distraction to do something that was not in the best interest of the American people. He pardoned five megabanks for rampant fraud and corruption, which is especially notable because of the amount of money he owes them.

    Trump has been using Deutsche Bank since the 1990s, and Financial Times has reported that he now owes the bank at least $130 million in outstanding loans secured in properties in Miami, Chicago, and Washington. However, a source told the Times that the actual number is likely much larger at $300 million.

    Reports claimed that Deutsche was the only bank willing to lend Trump money after his companies faced multiple bankruptcies. The relationship has continued over the years, and an analysis from the Wall Street Journal claimed that Trump has received at least $2.5 billion in loans from Deutsche Bank over the last 20 years.


    read more.

end

January 17, 2018 - Posted by | Economics, GeoPolitics | , ,

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