Lots of financial related news since I posted Part III, but I’ve been distracted. However …
Today, House Democrats on the Financial Services Committee asked Deutsche Bank CEO, John Cryan, for information on the banks dealing with Trump. You may recall that the bank lent Trump $300 million. They also did an internal investigation once Trump became president to see if there was a Russian connection to the loan. That report was never made public.
According to Business Insider,
Representative Maxine Waters of California and four other Democrats on the committee sent a letter dated May 23 to Deutsche Bank CEO John Cryan, asking the German bank to disclose "information relating to two internal reviews reportedly conducted by Deutsche Bank.”
In the letter, seen by Business Insider, the Congressional committee asks for information "regarding its 2011 Russian mirror trading scandal and the other regarding its review of the personal accounts of President Donald Trump and his family members held at the Bank."
MarketWatch reports that the letter states:
Deutsche Bank's pattern of involvement in money laundering schemes with primarily Russian participation, its unconventional relationship with the President, and its repeated violations of U.S. banking laws over the past several years, all raise serious questions about whether the Bank's reported reviews of the mirror trading scheme and Trump's financial ties to Russia were sufficiently robust ...
Unfortunately, the Dems have no power to make Deutsche Bank produce the report. Requests that Jeb Hensarling, the Republican committee chairman, do so have gone unanswered.
For Trump, it’s all about the money and it will be the money that brings him down.