David Cay Johnston explained why Donald Trump’s $200 million debt to Deutsche Bank, “a criminal organization in America with a banking license,” is "rife with corruption."
October 24, 2020

Appearing on AM Joy this morning, Pulitzer-Prize-winning journalist David Cay Johnston discussed Trump’s nearly half a billion dollars in debt, much of it due in the next four years, and much of it owed to Deutsche Bank. The Trump family’s relationship with the bank is already under scrutiny because of purchases of apartments from the Kushners by Trump’s private banker and her colleagues at Deutsche Bank.

Now Johnston added more details to the stink:

JOHNSTON: Deutsche bank, which has actively promoted illegal tax shelters that - I exposed them four years ago in The New York Times and other conduct - I think is reasonably looked upon, from an American point of view, as a criminal organization in America with a banking license.

[Trump] doesn’t appear to have the resources to pay back his notes when they would come due during a second administration. Does anybody think that a licensed bank regulated by Donald Trump's appointees would foreclose on him? I mean this is just rife with corruption, and it's why presidents of the United States should not be running businesses.

Or to put it another way, it’s why a “businessman” like Trump should not be president of the United States.

Can you help us out?

For 18 years we have been exposing Washington lies and untangling media deceit, but now Facebook is drowning us in an ocean of right wing lies. Please give a one-time or recurring donation, or buy a year's subscription for an ad-free experience. Thank you.


We are currently migrating to Disqus

On May 14, 2022, we started migrating our comments from Insticator back to Disqus. During this transition period, some posts will have Insticator and some Disqus. For more information on the transition, as well as information regarding old C&L accounts, please see this post.

We welcome relevant, respectful comments. Any comments that are sexist or in any other way deemed hateful by our staff will be deleted and constitute grounds for a ban from posting on the site. Please refer to our Terms of Service for information on our posting policy.