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What Next - Deutsche Bank Is Trying to Wash Its Hands of Trump

Slate News

Slate Podcasts

News Commentary, Politics, News

4.56K Ratings

🗓️ 19 July 2019

⏱️ 20 minutes

🧾️ Download transcript

Summary

Deutsche Bank was the one lender that couldn’t quit Donald Trump. Now the bank holds the key to understanding President Trump’s finances.

Guest: David Enrich, finance editor for the New York Times. 

Podcast production by Mary Wilson, Jayson De Leon, and Ethan Brooks


Hosted on Acast. See acast.com/privacy for more information.

Transcript

Click on a timestamp to play from that location

0:00.0

Today's episode originally aired back in May.

0:03.2

It provides some very important context for a few stories we're going to be following over the next month.

0:07.5

So we thought we'd give you another chance to take a listen.

0:14.9

David Enrich of the New York Times has been hunting down these videos.

0:19.6

I've been looking for them and looking for them and looking for them for months and months and months, and I cannot find them.

0:25.5

These are promotional videos for Deutsche Bank.

0:28.9

The kind they might show to a new client, a high roller they're trying to recruit.

0:34.0

Donald Trump makes an appearance in them. Ivanka does, too.

0:37.3

The ones with Trump at this golf tournament I've had described to me by one of the people who actually shot the videos, which is fascinating because the person's asking questions of Trump, like, why do you like Deutsche Bank?

0:46.5

And he comes back with this, you know, just disarmingly candid response, which is, you know, I love them because they're so fast.

0:59.7

By fast, he means they just sign off on the loans without paying a whole lot of attention.

1:04.1

They quickly process it, which is great for Donald Trump, not always the best sign if you are the bank that is dispensing

1:13.2

those loans. You generally want to take your time and assess the risks and study people's

1:18.7

financial histories and things like that.

1:21.7

Over two decades, this bank lent Donald Trump more than $2 billion.

1:27.3

So Trump would treat these bankers as his friends, almost as his family members.

1:31.2

He'd fly them all over the country.

1:32.6

He'd take them to boxing matches.

1:34.4

He'd invite them to be his guests at the U.S. Open.

1:37.0

And he'd correspond with them.

1:38.3

I've seen one example of Trump writing a note in his signature Black Sharpie to one of his Deutsche Bank bankers,

1:45.9

where he thanks him for just being such a great friend with all the loans he's providing.

...

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