The Book: Dark Towers-Deutsche Bank, Donald Trump, An Epic Trail Of Destruction. Written by David Enrich, he tells the story of how one of the world’s mightiest bank careened off the rails, threatened everything from our financial system to our democracy. Darkly fascinating. A tale that will keep you up at night.
A Rainy Sunday in 2014
On a rainy Sunday in 2014, a senior executive at Deutsche Bank was found hanging in his London apartment. Bill Broeksmit had helped build the 150-year-old financial institution into a global colossus, and his sudden death was a mystery, made more so by the bank’s efforts to deter investing Broeksmit, it turned out, was a man who knew too much.
Donald Trump-Sworn In As The 45th President
As Trump delivered his fiery Inaugural address, a grey-haired woman named Rosemary Vrablic sat in the VIP section of the audience. Vrablic was an executive at Deutsche Bank, and without her, Donald Trump probably wouldn’t have been moving into the White House.
Deutsche Bank Scandals
The Deutsche Bank was notorious for its central role in some of the biggest scandals in finance, from fixing interest rates and violating U.S. economic sanctions against countries like Iran and Syria to help Russian Oligarchs launder up to $10 billion out of the country. So the nature of Deutsche Bank’s relationship with Trump has begged so many questions, even more so because it remained tantalizingly opaque.
Late in 2015, one of Russia’s state-owned bank had guaranteed Deutsche’s loans to Trump, effectively making the then-presidential candidate indebted to one of America’s chief advisories. Along with dozens of other reporters, no hard evidence, with former bank staffers offering plenty of speculation but neither first-hand knowledge nor documentary evidence.
Since Trump took office, we’ve learned plenty of other details about his relationship with Deutsche Bank, as well as the extent of the bank’s dealings with other figures, including the Kushner family and Jeffrey Epstein. David Enrich reporting has shed light on the dark corners of Wall street and favors that financial firms do for their favorite clients.
Trump sought a loan from Deutsche Bank during 2016 campaign, that anti-money laundering specialists at the bank flagged multiple transactions involving entities controlled by Trump and his son-in-law Jared Kushner, that federal prosecutors subpoenaed bank records from Deutsche about entities associated with Kushner’s family and that the bank introduced Trump to wealthy Russian investors.
David Enrich Says:
The bottom line is greed and shortsightedness, because of the history of Trump being a debtor, as well as Epstein being an unsavory client, why would Deutsche Bank work with either of these two guys. Deutsche Bank was eager to do business with people who were off-limits for the mainstream banking world. The reason they were off-limits, is that they had done things, whether personal or professional, that were kind of abhor real ranging from sex crimes in Epstein case to being a recidivist defaulter and acting like a demagogue in the Trump case. Deutsche Bank had to be content with clients that were off-limits to other bank, not a reputable Bank, in any means.
Enrich was asked-Is there any hint or indication that the president has either overtly or more subtly exerted pressure on the SEC or DOJ on some of the multiple investigations into Deutsche Bank since taking office?
Enrich replies: “Yeah, there are indicators I’ve seen of that. I certainly don’t have any proof that, that’s what happened, but there’s kinda circumstantial evidence that suggests something strange is afoot. At the end of the Obama administration in late 2016, there were a number of investigations into the bank’s laundering of money for wealthy Russians. That included a Justice Department criminal investigation. And I had heard that the DOJ was pretty close to bringing some sort of charges against the bank and possibly individuals at the bank. I believe these were likely to be criminal charges.”
One of the things that Enrich found very frustrating, it is very difficult to penetrate what is going on currently with Deutsche Bank’s loans to Donald Trump. When Trump was sworn in as president of the united states, he owed around $350 million to Deutsche Bank.
Award-winning journalist David Enrich reveals the truth about Deutsche Bank and its epic path of destruction. Tracing the bank history back to its propping up of a default-prone American developer in the 1880s, helping the Nazis build Auschwitz, and wooing Eastern Bloc authoritarians, he shows how in the 1990s, via a succession of hard-charging executives, Deutsche Bank made a fateful decision to pursue Wall Street riches, often at the expense of ethics and the law.
Soon Deutsche Bank was manipulating markets, violating international sanctions to aid terrorist regimes, scamming investors, defrauding regulators, and laundering money for Russian Oligarchs. Desperate for an American foothold, Deutsche also started doing business with a self-promoting real estate magnate nearly every other bank in the world deemed too dangerous to touch because of constantly defaulting on loans, Donald Trump. Over the next twenty years Deutsche Bank executives loaned billions to Trump and his family, as well as the Kushners, and an array of scandal-tarred clients, including convicted sex offender Jeffrey Epstein.
This book is the never-before-told saga of how Deutsche Bank became the global face of the financial recklessness and criminality-the corporate equivalent of a weapon of mass destruction. It is also the story of a man who was consumed by fear of what he’d seen at the bank-and his son’s obsessive search for the secrets kept.
Since this book was written and published, there has been more information that has come out about Deutsche Bank, the fact that they hold Trump’s financial records and now it has gone to the Supreme Court in order for the information to be released to The United States Congress. The Supreme Court will hear the case, which was subpoenaed when Trump would not release his taxes when on the campaign trail and then after he became president. I will be watching for the outcome of this and will bring it to everyone’s attention as soon as it is released.
All The Best,