Tuesday 19 March 2019

New report claims Donald Trump received around R30 billion in loans from Deutsche Bank.

Donald Trump at what later became the Trump International Scotland
golf course in Balmedie, Aberdeenshire, in 2011.

Deutsche Bank cumulatively loaned Donald Trump more than $2 billion – some R30 billion – over two decades when he was in real estate, according to a new report from The New York Times.

While Trump's relationship with Deutsche Bank - which dates back to the 1990s - is not entirely revelatory, The Times spoke to more than 20 people who who either currently or previously worked as executives for Deutsche Bank, giving a broader look at the scope of the relationship.

The bank was one of the few on Wall Street that would take a risk with Trump following his casino bankruptcies, The Times reported in 2016 ahead of that year's presidential election. ("Several bankers on Wall Street say they are simply not willing to take on what they almost uniformly referred to as 'Donald risk,'" The Times Susanne Craig reported.)



By Sarah Gray.
Full story at Business Insider.


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