Sections SEARCH Skip to content Skip to site index Subscribe Log In Log In Today’s Paper DealBook | DealBook Briefing: Inside Trump and Deutsche Bank’s Checkered History Advertisement DealBook Supported by March 19, 2019 Good Tuesday morning. (Was this email forwarded to you? Sign up here .) Trump and Deutsche Bank’s cozy tie-up President Trump has long enjoyed the backing of one major lender: Deutsche Bank. David Enrich of the NYT has taken a deep look into their often turbulent relationship — which is now under investigation by prosecutors and Congress. Deutsche Bank courted Mr. Trump when no one else would. He had already gone bankrupt, and no Wall Street lender would back him. But bankers at Deutsche like Mike Offit and Justin Kennedy (the son of Justice Anthony Kennedy) lent him millions. Mr. Trump rewarded some bankers, after some prompting, with a trip to his Mar-a-Lago resort. It issued loans despite finding financial discrepancies. Deutsche Bank officials concluded that Mr. Trump was worth about $788 million, not his self-proclaimed $3 billion. And a senior banking executive told Mr. Enrich that he had told others that Mr. Trump had worked with people in the construction industry who were tied to… Read full this story
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