Why Does Trump Have Beef With Russia Donald Trump
Engineering | No, There Isn't Evidence That Trump Owes Money to Russia
https://www.nytimes.com/2020/x/13/technology/no-in that location-isnt-show-that-trump-owes-money-to-russia.html
No, There Isn't Evidence That Trump Owes Money to Russian federation
Oct. 13, 2020, xi:10 a.m. ET
October. 13, 2020, eleven:10 a.m. ET
President Trump owes a lot of coin: hundreds of millions of dollars of it.
Whom he owes it to has been the subject of countless conspiracy theories. Lately, liberals and other social media accounts have been spreading rumors, presented as fact, that he owes it to the Kremlin or Russian oligarchs.
After The New York Times reported that Mr. Trump's federal revenue enhancement returns showed that he had personally guaranteed $421 million of debt, questions about who lent him all this money have reached the upper echelons of the Autonomous Party. "Information technology'd be actually good to know who the president of the United States, the commander-in-chief, owes money to, because the American people have a right to know what is influencing the president's decisions," Senator Kamala Harris said at last week'southward vice-presidential debate.
The answers are not hard to come up by.
According to Mr. Trump'south latest financial disclosure report, filed with the U.Due south. Office of Government Ideals, he owes at least $135 million to a smattering of pocket-size fiscal institutions such as Ladder Capital. His biggest creditor — to whom Mr. Trump owes well over $300 million — is Deutsche Banking concern. From 2012 through 2015, the scandal-plagued German banking concern lent Mr. Trump money for his Doral golf game resort in Florida ($125 million), his hotel in Washington ($170 million) and his skyscraper in Chicago (at least $45 million).
Why on world would Deutsche Bank have lent hundreds of millions to Mr. Trump given his track record of stiffing his lenders, including Deutsche Bank itself?
I conspiracy theory is that Deutsche Banking company agreed to make the loans because they were backstopped by Russians — the Kremlin or a state-owned bank or an oligarch. If Mr. Trump were to default, it would be the Russians, not Deutsche Depository financial institution, on the claw for the losses.
Some other, related claim is that after Deutsche Bank made the loans, it sold chunks of them to Russians. It is common for large loans to exist syndicated or securitized — in other words, chopped up and sold to investors. In the late 1990s through the mid-2000s, Deutsche Banking company did this with some of its large loans to Mr. Trump.
Under this theory, the president would owe the money to Russians, not the High german bank.
In that location is a sure logic to this. Russians interfered on Mr. Trump'south behalf in the 2016 election. Deutsche Bank is the only mainstream financial institution that'south been consistently willing to practise business organization with Mr. Trump. And Deutsche Bank for decades has had shut ties to Russia and has facilitated money laundering for wealthy Russians.
Simply the theories don't concur up.
Deutsche Depository financial institution didn't chop upwards and sell the latest batch of debt — the only portion that is however outstanding, co-ordinate to bank officials with direct knowledge of the transactions. The loans remain on Deutsche Depository financial institution's books.
It is true that Deutsche Bank was willing to lend to Mr. Trump when few others would. But there is an caption. To overcome the depository financial institution's wariness, Mr. Trump agreed to personally guarantee virtually of the debt on all of the loans. That meant that if he defaulted, Deutsche Bank could seize his personal assets, as The Times has previously reported.
The outcome was that the loans would generate fees and interest payments for Deutsche Banking concern but would entail niggling financial take chances.
Deutsche Bank remains a vast repository for Mr. Trump'due south financial secrets, and the president's lawyers have spent more than than a twelvemonth fighting against congressional subpoenas for the bank'south records related to Mr. Trump. It is not incommunicable that prove will emerge that muddies this flick.
For now, though, it isn't very complicated.
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Source: https://www.nytimes.com/2020/10/13/technology/no-there-isnt-evidence-that-trump-owes-money-to-russia.html
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