Deutsche Bank: Where Trump Gets His Loans
Real estate mogul Donald Trump has one lender he looks to when he needs cash for “making America great again”—Germany’s now-struggling Deutsche Bank.
While lots of banking giants stay far away, Deutsche has always been there for The Donald, taking part in at least $2.5B in loans to Trump-affiliated companies since 1998, the Wall Street Journal reports.
That, plus an additional $1B to Trump-affiliated entities in total, makes Deutsche the financial institution with the closest ties to the billionaire. Too bad that association isn’t making Deutsche great again—the Frankfurt-based bank has been sputtering in the US, with shares down almost 50%.
Other Wall Street giants—like Citigroup, JP Morgan and Morgan Stanley—say they backed away from Trump in part because of frustration with his business practices, after extensive deals in the '80s and '90s. [WSJ]
