Trump Waives punishment for Bank He Owes 130 M

Trump Waives Punishment For Bank He Owes $130M

Crony Capitalism

Trump administration waives punishment for convicted banks. International Business Times:“The Trump administration has waived part of the punishment for five megabanks whose affiliates were convicted and fined for manipulating global interest rates. One of the Trump administration waivers was granted to Deutsche Bank — which is owed at least $130 million by President Donald Trump and his business empire, and has also been fined for its role in a Russian money laundering scheme… Trump’s financial relationship with the firm has prompted allegations of a conflict of interest. The bank has not only sought the Labor Department waiver from the administration, it has also faced Justice Department scrutiny and five separate government-appointed independent monitors. Meanwhile, the New York Times recently reported that federal prosecutors subpoenaed Deutsche for ‘bank records about entities associated with the family company of Jared Kushner, President Trump’s son-in-law and senior adviser.’ All of these interactions with the Trump administration and the federal government are transpiring as Deutsche serves as a key creditor for the president’s businesses.”