Exclusive: Tired of Trump, Deutsche Bank wants out but sees no good options - sources

[groundloop]

Source: Reuters

NEW YORK/FRANKFURT (Reuters) - Deutsche Bank AG DBKGn.DE is looking for ways to end its relationship with President Donald Trump after the U.S. elections, as it tires of the negative publicity stemming from the ties, according to three senior bank officials with direct knowledge of the matter.

Deutsche Bank has about $340 million in loans outstanding to the Trump Organization, the president’s umbrella group that is currently overseen by his two sons, according to filings made by Trump to the U.S. Office of Government Ethics in July and a senior source within the bank. The three loans, which are against Trump properties and start coming due in two years, are current on payments and personally guaranteed by the president, according to two bank officials.

In meetings in recent months, a Deutsche Bank management committee that oversees reputational and other risks for the lender in the Americas region has discussed ways in which it could rid the bank of these last vestiges of the relationship, two of the three bank officials said. The bank has over the years lent Trump more than $2 billion, one of the officials said.

One idea that has come up in the meetings: sell the loans in the secondary market, two of the bank officials said. But one of the officials said that idea has not gained traction, in part because it is not clear who would want to buy the loans and the attendant problems that come with it.

Read more: https://www.reuters.com/article/usa-election-deutsche-bank-exclusive/exclusive-tired-of-trump-deutsche-bank-wants-out-but-sees-no-good-options-sources-idUSKBN27J0H1

[Autumn]

1. Oh my heart breaks. Fuck them. The bastard will stiff them and they fucking deserve it.

[Roy Rolling]

43. Here's One Option

Turn state’s evidence and blow the whistle on the Kennedy boy managing the account. That’ll clean the slate for them.

[poli-junkie]

49. I was thinking the same thing:

Give us your Justin Kennedy; put him under oath to testify against Trump, his retired Supreme daddy, and daddy's replacement, Just-us Kavanaughty. Then we may cut a deal.

[ancianita]

51. +1000

[mahatmakanejeeves]

2. Yeah, well, I had money in Nortel stock. I lost my entire investment in that too. NT

[OriginalGeek]

65. I used to run a Nortel Option 61C switch

When Avaya bought them we switched to all VoIP phones but man I kinda miss that old hunk in the server room.

[Rorey]

3. ????What???

I thought that financial institutions were lining up in droves to do OrangeAss the FAVOR of extending loans to him???

[nykym]

4. Could'nt they just

Call the loans in?

[Mike 03]

5. That's my question too.

Or commence placing liens on Trump properties?

[lastlib]

18. Depends on how they were secured....

And if, as seems to be his usual practice, the security turns out to have been overvalued, they're hosed.

[Mike 03]

22. Thanks for the info.

I'm also interested in this story that a Russian bank underwrote these loans. I don't know anything about underwriting, but I'm wondering if the Russian bank is liable for this money if Trump defaults.

[lastlib]

28. They very likely put a sizable chunk of the loan amount into escrow with Deutsche....

and would be liable for the balance that they underwrote. If tRumpski defaults, Rusbank would have to cough up what they underwrote, minus the escrow amount, which they would forfeit to Deutsche.
So Vladdy-Daddy not gonna be happy to see a default.

[louis-t]

62. They already have liens on the property!

[Marthe48]

58. Too big to fail?

snicker.

He failed, failed again, failed some more. And the bank and economic world kept him afloat. Now he's sinking like a party balloon.

[AZ8theist]

59. Yeah, it's a crying shame...

His only bank wants to bail on him. Just when he's going to need MORE LOANS for legal expenses.

Damn shame, I tell you.......damn shame.

[TexasBushwhacker]

71. Not before they are due

He will have to start paying on them in 2 years. If he defaults, THEN they can call the loans and begin liquidation if necessary. More likely, Trump will try to negotiate for a longer term, but it doesn't sound like they'll want to play ball this time. He may file for bankruptcy AGAIN, but if he's personally guaranteed the loans, that may not work.

A yuge part of Trump's net worth is his brand. That has become worth a bucket of warm spit. I thought this was interesting:

"But one of the officials said that idea has not gained traction, in part because it is not clear who would want to buy the loans and the attendant problems that come with it."

Who would want to buy the loans if he's no longer president? Not even the Russians or the Saudis. If he already owes them, and I think he does, he DOES NOT want to stiff them. He'll get Ivanka's head delivered to him in a bowling ball bag.

[Hoyt]

6. Hope everyone calls his loans when he loses. Maybe Kush will jump.

[Mike 03]

7. If a bank underwrote these loans, is that bank liable?

I'm just bringing this up because of an explosive story from January:

Trump Deutsche Bank Loans Underwritten By Russian State-Owned Bank, Whistleblower Told FBI

https://forensicnews.net/2020/01/03/trump-deutsche-bank-loans-underwritten-by-russian-state-owned-bank-whistleblower-told-fbi/

Just curious about the legal obligation of the Russian-backed bank (if this story is indeed true). I'd prefer they go after Trump.

[RainCaster]

10. Deutsche Bank trusts a Russian bank?

They've got a real mess coming to them if that's the case. I sure hope that our government will not be liable for a Deutsche Bank failure.

[Mike 03]

21. It's a real trainwreck waiting to happen.

One thing is clear: Trump's future looks bleak.

[calimary]

64. Can't wait!!!

[lastlib]

29. see my post above.

[Fullduplexxx]

8. Let them fail they gave a con man money

[onetexan]

9. The chickens have come home to roost

They should not have done business w the Con given his history of defaulting on his loans or litigious tactics to avoid paying them.

[smb]

11. Lie Down With Trump, Get Up With Bed Bugs nt

[SergeStorms]

45. Good one, smb!

Trump Resorts: Come for the relaxation and gold plated toilets, leave with an incredible bed-bug infestation.

[hkp11]

12. maybe the russians

or chinese want to buy his loans...US secrets galore they can get from Drumpf. Really bad for the US though!

[robbob]

14. I was thinking that...

But I’m sure they have enough dirt on him already.

[hkp11]

33. sure they already have dirt on him

it's just the US security that's at stake - US intelligence, pentagon, DHS, etc. - Drumpf has learned things in the past 4 yrs about our nation's security

[bluedigger]

13. I wouldn't loan the pResident a used piece of string based on his personal guarantee.

Any way you cut it, they are bad bankers.

[catbyte]

15. Awwww!

----------------------------------------------

I hope they end up taking a bath. WTH were they thinking?

[Wellstone ruled]

16. Deutsche can move these Loans

at a discount if they want to. USA Real Estate is still Prime Interest for Foreign Investment plus,all the Perks of Access,Influence,and Citizenship for the right person.

Deutsche no doubt receives their Loan Service Fees which most likely are quite large because of risk . Can not imagine anybody Trump with a Fico above 450.

BTW,Deutche created a separate Mortgage Bank within their Banking Business to the tune of 50 billion late last year. This Banks purpose is a repository for non preforming or what is known as "troubled" and "impaired"loans.

[Mr.Bill]

19. Credit scores are for peasants like us.

When you owe the bank $5,000 and can't make the payment, you have a problem.

When you owe the bank $5,000,000 and can't make a payment, the bank has a problem.

[Wellstone ruled]

24. True on that.

The Sub Prime and Balloon Mortgage Real Estate world is a sea of Butt Ugly. Trump Crime Syndicate is just another Poster Child.

Deutsche and its subsidiary Ladder Capital(Sub Prime Lending Operations)are reported to massive Money Laundry operation for every Tin Pot Dictator in the world.

[Mr.Bill]

17. "...personally guaranteed by the President."

Joke of the century.

[keithbvadu2]

20. "and personally guaranteed by the president" - That's a real confidence builder, eh?

"and personally guaranteed by the president" -

That's a real confidence builder, eh?

--------------------------

We're selling this loan as an investment opportunity for you...

because we don't want it.

[reACTIONary]

23. We should start a "go fund me" and ...

... buy the loans for $1 per million. Then make him dance for his supper.

[keithbvadu2]

25. You got two letters right in that middle word.

[reACTIONary]

31. Two out of four...

... and I wasn't even trying.

[dchill]

35. In baseball, .500 is STELLAR!

[Lonestarblue]

26. Why can't Deutsche Bank simply take assets, like the DC hotel lease?

Or Mar-a-Lago or any other Trump property since he personally guaranteed the loans? Had the business obtained the loans he would declare bankruptcy to avoid paying, but I’m not sure what assets are on the line in a personal bankruptcy. I do hope they go after the money and ensure that he has to give up his lavish lifestyle, especially when taxpayers are no longer footing the bill.

[dchill]

34. Trump's properties are already leveraged.

No value.

[usaf-vet]

41. Take all the assets including all the golf real estate leave him his putter take all other clubs....

..... spend what $50-$100 dollars of tax payer money to buy him an indoor putting game for his new home in federal prison. Hell, he can spend EVERY DAY playing golf.

[BlueWavePsych]

27. Lock him up!

[Lock him up.]

61. And throw away the key.

[KY_EnviroGuy]

30. "currently overseen by his two sons" explains some of their unrest.

I can't even imagine the putting out of my trash cans each week being managed by those two.

[dchill]

32. Do banks go rupt?

Just asking...

[BlueWavePsych]

37. $2 Billion in bad debts to one borrower is BAD NEWS!

The bank has over the years lent Trump more than $2 billion, one of the officials said.

[sandensea]

39. Yes. If they can't borrow their way out of it (they usually can), they become insolvent.

This makes them unable to pay their own debts (usually quite large) - and worst of all, a possible run on said bank by deposits may ensue once news gets out.

This is how S&Ls failed: massive loans were given out to friends of the board (sometimes to board members themselves - e.g. Neil Bush) on a buddy-buddy basis.

Except the buddy never repaid - indeed, never intended to (and the board usually knew it).

Knowing they could never pay depositors, many simply shut their doors in advance. The taxpayer bailed out depositors (up to a point) during G.H.W. Bush's entire 4-year term (at a now-quaint $150 billion cost).

Now, in this case Deutsche Bank is a behemoth that is extremely unlikely to suffer any solvency issues due to Deadbeat Donald.

But a Donnie default will surely trigger a wave of bad headlines and ECB investigations, which they'd rather avoid (bad for ze stock price, ja?).

But of course, should they be investigated, they already know what to say:

[DENVERPOPS]

54. LOL ....Made me think of Silverado Savings here in Denver

Don't get me even started on all the flagrant CRIMINAL shit Michael Wise pulled off here in Denverland......

AND he got away with all of it because of Neil Bush being on the board of directors and the Federal Judge was brought in from Texas.....

[sandensea]

55. +1

When people say that "Trump is unprecedented" - I beg to differ.

They were just more polite about it, more mindful of etiquette.

[DENVERPOPS]

70. And for sure

don't get me started on the old man, HW.

H.W., the only common thread from JFK to the end of "W"'s term.........Think about it for a minute......

Co-incidence? Makes me wonder.........(and no I am not a conspiracy nut!)

[mahatmakanejeeves]

36. Animal House:

[ResistantAmerican17]

38. Drumph is a real gem... this mofo bankrupts Casinos and yes

even banks.....what a maroon.

[oldsoftie]

40. Simply refuse to renew when the current term runs out. He pays off or they foreclose.

Thats how they get out.

[Traildogbob]

42. Can they seize

ALL his properties and change locks? Leave the whole damn criminal KKKlan homeless. Let em move in with Hannity and LimpBalls.

[fierywoman]

44. This. Spanky and FLOTITS homeless.

[Traildogbob]

47. Flotits

😂🤣😁😂🤪😄✌🏼✌🏼

[fierywoman]

48. It's from Bette Midler. I use it whenever possible!

[Major Nikon]

50. I want video of them repoing his gold plated shitter

[ffr]

46. They wait until he's unelectible, then they come to terms with God on that DAY?

FUCK YOU Deutsche Bank. Cough up your criminal enterprise, your merry band of international criminals and thugs.

[Steelrolled]

67. Actually they are waiting until after the election.

If Trump wins, it won't be mentioned again.

[Evolve Dammit]

52. NOW you're lamenting your decision? NOW? Assholes. Hope you take an orange bath.

[yuiyoshida]

53. maybe it will just accidently

catch fire and burn down..

[flibbitygiblets]

56. I am also TIRED OF TRUMP. And I see some great options!!

Sucks to be you, Douche-bank. Shouldn't have propped up that con man. Now hand over his records to investigators and seize what little value you can get out of his properties before someone else gets them and/or he torches them for the (overinflated) insurance money!

[DFW]

57. No bank wants to openly deal with bad loans of that magnitude

And I'll bet $340 million is the tip of the iceberg. A bank gets to list loans as assets as long as they are considered "performing," or solid loans where the party that got the loan is credible and is paying the interest on time, and will ultimately be good for repayment. No bank (or bank officer) wants to admit that a loan they made was done so in error, and could result in a default, especially of that magnitude. It looks bad on a loan officer's record, and it looks bad to a bank's shareholders. No one wants to tossed out in the street for having okayed a loan of that size that will have to be written off.

If they have to do that, Deutsche Bank's stock will suffer, heads will roll, and Trump's family will have trouble ever getting credit again.

Gee, wouldn't THAT be a shame?

[cstanleytech]

60. "who would want to buy the loans" Putin?

[3Hotdogs]

63. $340 million he owes them? It would be a gamble and I'd probably never see any profit,

but I'd buy the loans or $3,400.00.

Tell 'em to give me a call.

H.

[OriginalGeek]

66. I'll buy those loans from them for about

tree-fiddy.

[Steelrolled]

68. It would be a lot more likely for Trump

to pay them off earlier, and take out new loans, given today's interest rates.

[JustABozoOnThisBus]

69. NOW they want a Trexit? They made the shitty loans, they can eat them. nt