For years, Donald Trump has used a powerful tool when
dealing with bankers: his personal guarantee.
No, really. Someone wrote that.
Trump’s attorney general will inherit an investigation of
Deutsche Bank related to stock
trades for rich clients in Russia -- where Trump says he plans to
improve relations -- and may have to deal with a possible multibillion-dollar
penalty to the bank related to mortgage-bond
investigations .
Not the Russians again.
Deutsche Bank also lends to Trump’s extended family,
including his son-in-law Jared Kushner. Weeks before the election, the
bank refinanced most of the $370 million of debt against retail spaces
Kushner’s company owns in midtown Manhattan.
Three hundred million here. Three hundred seventy million there. It adds up.
Trump’s dealings with Wall Street stretch back decades to
his attempt to build an Atlantic City casino empire. That badly timed push
forced him to renegotiate with creditors when he couldn’t pay back billions of
dollars in loans. His major backers in that era included Citbank, Chase
Manhattan Bank and Bankers Trust -- a bank that was acquired by Deutsche Bank
in 1999 -- and the debacle left a trail of angry lenders.
Probably fewer than the trail of angry voters there'll be in 4 years.
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