Many rumors begin with at least some grain of truth behind them and it looks like the speculation around Donald Trump’s real net worth is based off a lot of truth. Basic analysis of new information related to House Democratic congressional committees and New York’s attorney general’s investigation into Trump’s ties to Deutsche Bank explains why Trump doesn’t want to release his taxes.
Deutsche Bank has been under scrutiny because it is the only bank that was willing to loan Trump money, even after he was deemed to be financially “untouchable” due to his past bankruptcies. Trump managed to get them to loan him at least two billion dollars, in part because he exaggerated his wealth, according to a new report in the NYT.
Simple analysis of information provided in the Times report can show anyone with common sense that Trump almost certainly has a negative net worth. In 2005 Trump begged Deutsche Bank for $500 million to build a riverside skyscraper in New York City. The bank audited his finances and found that in 2005, Trump could be worth no more than about $788 million, even though he was claiming he was worth $3 billion.
Even though Trump had lied, Deutsche Bank strangely still loaned him the money. The bank knew Trump was worth about $788 million, but loaned him $500 million, which because of that new debt, would lower his net worth to around $288 million. Remember that this was in 2005.
Get this, the Times then reports that the skyscraper Trump borrowed $500 million to build was completed in 2008, right at the peak of the financial crisis! Trump “struggled” to sell the condos in the tower and then sued sued Deutsche Bank to try and get out of the loan. Trump couldn’t afford to pay the loan! So he must have been BROKE!
Fast forward to 2016 and Trump still owes the bank over $300 million! Even after Trump sued the bank, they started lending to him again, even though he was clearly broke. It looks like something with Trump changed that made them willing to overlook his horrible track record and even the fact that he sued them.
Deutsche Bank made these loans to Trump, knowing that he has a history of bankruptcies and defaulting on loans. Maybe it’s because they knew his Trump tower condos were going to be bought by dirty money from Russia as part of a huge money laundering scheme? I’ll let you decide.
Aside from seeing the truth about Trump’s net worth, this new information revealed that Deutsche Bank knew that Trump was connected to criminal activity, yet it still gave him money. A “senior investment-banking executive” warned them not to do business with Trump because he had worked with people in the construction industry connected to organized crime. This rumor about Trump being willing to work with criminals carries a lot of weight when considering if he’s done business with Russian money launderers.
Trump has worked with criminals and is essentially a criminal himself because he has tried to commit bank fraud by lying about the value of his assets in order to obtain financing. He falsely inflated his net worth more than triple its true value. It isn’t hard to see how dishonest Trump is. He’s a crook and the rumors about him aren’t really rumors at all at this point.