Your Economy (No Politics)

[Ayock]

al44 - this candidate is OWNED by the banksters...

Donald Trump Is $100 Million In Debt To A Foreign Bank Refusing To Comply With U.S. Regulations
JUNE 1ST, 2016
PEARSON MCKINNEY

Donald Trump is the more in debt than possibly any other wealthy person in the country, according to new reports pertaining to the financial disclosure forms he filled out in order to put his name in the running for the presidency. Those reports showed that Donald Trump owes $100 million for two loans he took out from Deutsche Bank in Germany.

According to an analysis by Mother Jones:

“Trump’s disclosure form lists 16 loans from 11 different lenders, totaling at least $335 million, and the aggregate amount is likely much more. 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. The German bank has lent him at least $295 million for two of his signature projects. In 2012, Deutsche provided Trump with $125 million to help him buy Trump National Doral golf course. Last year, it handed Trump a $170 million line of credit for his new hotel project on Pennsylvania Avenue in Washington, DC.”
If Donald Trump were to be elected president, he would be the first president to see this kind of debt. Deutsche Bank is known for skirting the U.S. regulations that President Trump would be sworn to uphold, should he win the election; yet, Trump doesn’t see this to be an issue. This is a clear conflict of interest for someone even considering running for president.

Chief ethics lawyer for President George W. Bush from 2005 to 2007 said this to Mother Jones:

“They weren’t in a situation where someone could put pressure on them to do what they want, whereas having a president who owes a lot of money to banks, particularly when it’s on negotiable terms—it puts them at the mercy of the banks and the banks are at the mercy of regulators.”
According to reports, Deutsche Bank “fixed rates…used to price hundreds of trillions of dollars of loans and contracts worldwide.” The bank has also paid off settlements after being accused of manipulating prices. Reuters reported the following on Deutsche Bank:

“Slamming Germany’s largest lender for ‘cultural failings,’ regulators squarely blamed senior staff for misleading them, failing to be open and cooperative, and prolonging the investigation.”

Deutsche Bank is heavily involved in Washington lobbying, and just last year they spent $600,000 on lobbyists alone. On the year that Dodd-Frank was put into action, Deutsche Bank invested 2.6 million to influence America’s most conservative politicians.

Painter continues:

“There would be enormous tax consequences from just giving it all to the children. But just merely letting his [children] run the business doesn’t solve the problem. You really have got to figure out a way to sell your interest in the business and sell off the risk. I think what you need to do is wind down or sell off the real estate portfolio, and that probably takes time. It’s not like liquid securities that are easy to sell. Or he’d need to start to focus on paying off this debt.”

Most banks took issue with the 2010 Dodd-Frank financial reform that was put in place to stop big banks from wreaking havoc on the American economy and causing another financial catastrophe like we saw in 2008. Donald Trump has already spoken about repealing Dodd-Frank if he were to be elected, and now we can fully understand why.