US Politics

Not the biggest scandal story, but just incredible.

In November 2008 the German bank took the unusual step of suing Trump after he failed to repay $40m of a $640m real estate loan. Trump countersued. The tycoon argued that Deutsche had contributed to the global recession, which had depressed property prices. He demanded $3bn in damages.

Deutsche’s astonished lawyers described Trump’s lawsuit as frivolous and demanded immediate payment. The two parties settled in 2010.

https://www.theguardian.com/us-news/2017/feb/16/deutsche-bank-examined-trump-account-for-russia-links

There are just so many scandals surrounding Trump that people are probably forgetting how serious a single scandal is. Perhaps, apart from the frivolous and irrelevant bollocks that many people seem to be concentrating on, it's part of Trump's modus operandi to just swamp people with wrongdoing and bad behaviour in order to tire people and to lower standards.

The bank then quietly re-established its relationship with Trump via Deutsche’s private bank. The private wealth division deals with ultra high-net worth individuals, typically with assets in excess of $50m.

A person familiar with the matter said the relationship resumed because Deutsche Bank hired a group of private wealth bankers including Rosemary Vrablic, who had previously worked at Citigroup and Bank of America and was Trump’s personal banker. Vrablic began working for Deutsche in 2006.

When he was questioned about his bona fides on Wall Street by the New York Times, Trump referred to Vrablic as the “boss” of Deutsche Bank, although she is not the group’s chief executive. A glowing profile of the banker appeared in Kushner’s New York Observer.

Comment:

https://www.theguardian.com/business/2017/feb/16/how-donald-trump-became-deutsche-bank-biggest-headache