ich bin darüber gestolpert und ich finde, das gehört hier hin,
gelesen, gemerkt und ggf diskutiert.
Deutsche Bank: $364 million
The troubled German bank is Trump's top lender and has been
for years. When the rest of Wall Street essentially abandoned
Trump years ago, apparently frustrated by his business
tactics, Deutsche Bank stuck by the celebrity developer.
Well, not all of Deutsche Bank. In 2005, Trump borrowed $640
million from a group of banks, including Deutsche Bank, to
build his Chicago tower. But by 2008, the real estate market
had gone bad, and Trump was in financial trouble. Shortly
before he was due to pay Deutsche Bank $40 million for a
portion of the loan he had personally guaranteed, Trump filed a lawsuit against the German bank,
demanding $3 billion to compensate him for the international
economic turmoil that Trump claimed the bank had helped cause
and that Trump now said was hurting his investment in Chicago.
The dispute was eventually settled, but Trump's relationship
with the division of the bank handling big commercial loans
was done. Instead, he began working with what's known as the
"private bank" side of Deutsche Bank—the division that caters
to high-net-worth individuals and that has significantly more
leeway to lend money. His various corporations now have four
outstanding loans from that part of Deutsche Bank, worth a
combined $364 million.
Trump's Deutsche Bank loans include:
- $125 million for two mortgages on his
Trump National Doral golf course in Miami. Both were taken
out in 2012.
- $69 million for a 2014 loan tied to the Chicago tower that
Trump and Deutsche previously bickered over. This loan is listed within Cook County property
records. Trump's personal financial disclosure form lists a
loan that appears similar but doesn't match the official
record. That document notes he has a 2012 loan for the
Chicago tower valued at between $25 million and $50 million.
- $170 million for a loan related to the Trump's hotel in
the Old Post Office in Washington, DC. Trump doesn't own the
building—he leases it from the federal government—but he
borrowed the money to finance the building's extensive
renovation. It's not clear when Trump borrowed the money,
but it was likely after he announced his bid for the
presidency.
Trump has an enormous conflict of interest on his hands with
Deutsche Bank. As Trump himself noted in his 2008 lawsuit
against the bank, Deutsche played a prominent role in the
run-up to the 2008 financial crisis. The Obama administration
has targeted Deutsche Bank and other banks for creating and
repackaging bad mortgage products, and earlier this fall the Justice Department
announced it was seeking to settle claims against the bank
for about $14 billion. That was much more than Deutsche
Bank was expecting to pay, and the news sent the bank into a
tailspin. Its stock price plummeted amid speculation that it
could not remain afloat if the Justice Department pressed the
bank for such a big settlement.
