![]() that this person could be involved in bribery or that their money could be from ill-gotten means. On Deutsche Bank's concerns about Trump holding political officeĪs a leading candidate for the president of the United States, he is what's called, in banking terms, a "politically exposed person," which means there is heightened risk of corruption. Your purchase helps support NPR programming. And yet, time after time, Deutsche Bank executives kept going back to him for more business."Ĭlose overlay Buy Featured Book Title Dark Towers Subtitle Deutsche Bank, Donald Trump, and an Epic Trail of Destruction Author David Enrich "The bank was so hungry for profits, for short-term profits, and so hungry to make a name for itself in the United States that it was really eager to just disregard any red flags that presented themselves with clients," Enrich says. Seeking to make a name for itself, the bank was willing to work with Trump when others would not. ![]() "Any mainstream financial institution that had competent risk management systems in place - there is no way they were going to do business with Donald Trump."Įnter Deutsche Bank, which Enrich says was a "second-tier player" in the banking world in the 1990s. "His record of defaulting on loans and stiffing his business partners was very long and very well-documented," New York Times finance editor David Enrich says. In the 1990s, long before he became president, Donald Trump was known as a cash-strapped New York City businessman with shaky credit. In his book, David Enrich details Deutsche Bank's quest to become the world's largest bank - and how its corporate culture led to countless scandals. Deutsche Bank was willing to work with Donald Trump when others would not. ![]()
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