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Trump Inc – a podcast series from ProPublica and WNYC – #26 S02 – Trump and Deutsche Bank: It’s Complicated (23May 2019)

29/05/2019

The most recent episode

About the series

Podcasts are a good form for presenting the surreality of this era, Eric Umansky, an editor at ProPublica, told me recently. “You can capture the absurdity in ways that you can’t in text,” he said. The excellent investigative podcast that he works on, “Trump Inc.,” from WNYC and ProPublica, began in February and concludes next week. Its premise is at once straightforward and audacious: it asks big, specific questions about Donald Trump’s famously mysterious business dealings, including those concerning possible connections between his Presidency and his profits; investigates them; and encourages listeners to pitch in and help. It features several personable, savvy-sounding reporters: Andrea Bernstein and Ilya Marritz, of WNYC, and Jesse Eisinger and Heather Vogell, of ProPublica, and it has a collaborative spirit. Reporters from other outlets (including The New Yorker’s Adam Davidson) offer additional information and insights. One episode features David Fahrenthold, of the Washington Post, answering listener questions; another was inspired by a comment that Fahrenthold made about Trump suing local municipalities in which he had businesses; a listener tip resulted in a mini-episode about Trump commissioning golf-tee markers with the Presidential seal on them. Umansky told me that one “superfan” listener “went to the courthouse in Westchester to look up cases for us.” Everybody gets to be a detective. Or, as the show’s Web site puts it, “Help Us Dive Into the Swamp.” 

About this episode – Trump and Deutsche Bank: It’s Complicated

Whispers of money laundering have swirled around Donald Trump’s businesses for years. One of his casinos, for example, was fined $10 million for not trying hard enough to prevent such machinations. Investors with shady financial histories sometimes popped up in his foreign ventures. And on Sunday, The New York Times reported that anti-money-laundering specialists at Deutsche Bank internally flagged multiple transactions by Trump companies as suspicious. (A spokesperson for the Trump Organization called the article “absolute nonsense.”)

The remarkably troubled recent history of Deutsche Bank, its past money-laundering woes — and the bank’s striking relationship with Trump — are the subjects of this week’s episode. The German bank loaned a cumulative total of around $2.5 billion to Trump projects over the past two decades, and the bank continued writing him nine-figure checks even after he defaulted on a $640 million obligation and sued the bank, blaming it for his failure to pay back the debt.

Trump, Inc. isn’t the only one examining the president’s relationship with the bank. Congressional investigators have gone to court seeking the kind of detailed — and usually secret — banking records that could reveal potential misdeeds related to the president’s businesses, according to recent filings by two congressional committees. The filings were made in response to a highly unusual move by lawyers for Trump, his family and his company seeking to quash congressional subpoenas issued to Deutsche Bank and Capital One, a second institution he banked with. Trump’s lawyers have contended that the congressional subpoenas “were issued to harass” Trump and damage him politically.

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