Trump is surviving the Democrats’ onslaught, so far ,
Instead of tweeting his outrage, President Donald Trump might actually want to endorse a recent New York Times article providing new details of his financial relationship with Deutsche Bank.
The Times found that, beginning in 2004, the German lender gave Trump as much as $2 billion in loans for real-estate projects over at least a decade. Various business failures made Trump a risky bet, so most banks steered far clear of the developer at that point in his career.
But Deutsche Bank saw Trump as a potentially marquee client who would generate lucrative fees, and help build its investment banking business.
Trump defaulted on some of the loans, but lender and borrower patched things up, and DB lent Trump additional
funds. The then-real estate mogul allegedly exaggerated the value of his holdings to help get some of the loans
Approved. Once Trump won the presidential election in 2016, DB tried to keep its relationship with Trump quiet, lest it invite investigative scrutiny (which in fact it has).
If you’re waiting to hear what’s so scandalous about all of this, you’ll have to keep waiting, because there’s nothing salacious in the Times’s account. Real-estate assets can be hard to value, for instance, and Trump would hardly be the first borrower to put a rosy spin on his creditworthiness.
That’s why banks are supposed to assess the value of collateral on their own, and don’t just take a borrower’s word for it. If Deutsche Bank was overly generous to Trump, that’s the bank’s problem, not his.
A few details in the Times account even buttress Trump’s claims that his business is all legitimate, with no need to rely on illicit Russian money or other shady financing.