After four long, often nightmarish, ever exhausting years, Americans appear to be ready to move on from Donald Trump. And we’re not alone. The Germans are reportedly poised to be done with him, too, after two expensive and embarrassing decades.
Deutsche Bank has about $340 million in loans outstanding to the Trump Organization…. In meetings in recent months, a Deutsche Bank management committee that oversees reputational and other risks for the lender in the Americas region has discussed ways in which it could rid the bank of these last vestiges of the relationship, two of the three bank officials said….
What happens next for the bank rests on the outcome of Tuesday’s elections, according to the three bank officials.
Well, yes, obviously, but “what happens next” also seems to depend on whether Trump & co. have $340 million, which is not clear at all. As ever, though, the folks in Frankfurt seem ready to give the president the benefit of the doubt. After all, when has that ever backfired, and when has this man of principle ever gone back on his word?
The loans, which are against Trump’s golf course in Miami, and hotels in Washington and Chicago, are such that the Trump Organization has only had to pay interest on them so far, and the entire principal is outstanding, two of the three bank officials said. They come due in 2023 and 2024, the filings show…. The Deutsche Bank executives are not unduly concerned about Trump’s ability to repay the loans, given the president’s personal guarantees and the time left before they come due, the three bank officials said…. Since Trump has personally guaranteed all the loans, Deutsche Bank could also seize the president’s assets if he is unable to repay, two of the three bank officials said.
Yup, we’re sure it will be just that simple and won’t involve years and years expensively battling the sort of tendentious and baseless litigation that has definitely not been the hallmark of the president’s business model. It certainly won’t prove to be the latest innovative way Deutsche Bank has found to lose money, no sir.