President Trump has reportedly “pardoned” 5 mega-banks, undoing any punishments for fraud and corruption—extending a trend put in place by Barack Obama.
Some are concerned the President’s latest action indicates his loyalty to banksters, though as International Business Times pointed out, “In late 2016, the Obama administration extended temporary one-year waivers to five banks.”
The Trump administration has granted Deutsche Bank a waiver from punishment stemming from a criminal conviction.
Deutsche Bank has been a big lender to Trump over the years; Trump still has loans with the bank that were originally worth $300,000,000.https://t.co/wO7bGFtSk7
— Kyle Griffin (@kylegriffin1) January 13, 2018
Trump’s latest policies have even angered even his own supporters, with some theorizing possible collusion or that the whole thing could be a scheme to bail himself out of $300,000,000 in loans he owes to Deutsche Bank.
The Trump administration just waived punishment for five mega-banks convicted of manipulating global interest rates, including Deutsch — which is owed at least $130 million by @realDonaldTrump and his business empire. https://t.co/96GX1t2hl3
— Public Citizen (@Public_Citizen) January 12, 2018
The Free Thought Project reported:
“Trump has been using Deutsche Bank since the 1990s, and Financial Times has reported that he now owes the bank at least $130 million in outstanding loans secured in properties in Miami, Chicago, and Washington.
“However, a source told the Times that the actual number is likely much larger at $300 million.”
Each announcing either $1K bonus or $15 min wage immediately after tax bill passage.
— Alt US Mint (@WatchPresTrump) December 20, 2017
Trump is also alleged to have obtained a least $2.5 billion in loans from Deutsche bank, over the course of 20 years.
Deutsche is said to have been the only bank that was prepared to offer Trump loans, after his companies were faced with many bankruptcies.
President Trump’s administration has supposed issued waivers to the following banks, “Citigroup, JPMorgan, Barclays, UBS and Deutsche Bank—all megabanks facing charges of fraud and corruption.”
All of these banks were involved in the LIBOR scandal (London Interbank Offered Rate), back in 2007.
WATCH “Are Trump’s Ties To Big Banks A Larger Danger To Democracy?”: