I took yesterday off because I wanted to get an early start on getting a new bathroom vanity all plumbed in (I really don’t like plumbing!). Mission accomplished! So far, knock on wood, no leaks! So, now back to what the hell is going on in this country?
For one thing, Cyrus Vance Jr. from the Manhattan district attorney’s office announced that Trump and his companies are being investigated for bank and insurance fraud1 and not just for the hush money payments for which Trump’s personal attorney, Michael Cohen, was convicted and sent to prison. Think about that for a second. When was the last time a sitting president from either party was under investigation for major financial crimes? You’re right, I can’t really remember such a case either. Nixon’s crimes weren’t financial in nature but that’s probably the closest.
Personally, this ‘revelation’ doesn’t come as much of a surprise to me, particularly after reading Mary Trump’s book. It’s just another piece of a puzzle that is coming together. Certainly, there are those that will claim this is just a political witch hunt, but let’s look at some history.
In 2019, Trump “paid $2 million to eight charities as part of a settlement in which the president admitted he misused funds raised by the Donald J. Trump Foundation to promote his presidential bid and pay off business debts, the New York State attorney general said on Tuesday.” 2 In addition, the Trump Foundation was forced to liquidate.
In 2018, “ A federal court approved a $25 million settlement on Tuesday with students who said they were duped by Donald Trump and his now-defunct Trump University, which promised to teach them the “secrets of success” in the real estate industry.”3 “Students had alleged that Trump University, which was open from 2005 to 2010, used false advertising and high-pressure sales techniques to lure them to free investor workshops at which they were sold expensive seminars and told they would be mentored by real estate gurus, leading to the loss of thousands of dollars in tuition.”3
And then there are the bankruptcies, “Over the course of 18 years, Trump’s companies went into reorganization six times — five times in New Jersey, where he had his casino holdings, and once in New York:
- Trump Taj Mahal Associates, Atlantic City casino — 1991
- Trump Castle Hotel & Casino, Atlantic City casino — 1992
- Trump Plaza Associates, Atlantic City casino — 1992
- Plaza Operating Partners, Manhattan hotel — 1992
- Trump Casino Holdings, Atlantic City casinos — 2004
- Trump Entertainment Resorts, Atlantic City casinos — 20094
Due to Trump’s string of bankruptcies, many US banks declined to pour more money into Trump ventures (misadventures?) so Trump turned to the international market – Deutsche Bank, based in Germany. Of course, Deutsche Bank has been under scrutiny for some time. “Germany’s troubled Deutsche Bank faces fines, legal action and the possible prosecution of “senior management” because of its role in a $20bn Russian money-laundering scheme, a confidential internal report seen by the Guardian says.
The bank admits there is a high risk that regulators in the US and UK will take “significant disciplinary action” against it. Deutsche concedes that the scandal has hurt its “global brand” – and is likely to cause “client attrition”, loss of investor confidence and a decline in its market value.
Deutsche Bank was embroiled in a vast money-laundering operation, dubbed the Global Laundromat. Russian criminals with links to the Kremlin, the old KGB and its main successor, the FSB, used the scheme between 2010 and 2014 to move money into the western financial system. The cash involved could total $80bn, detectives believe.”5
And most recently – yesterday – “Deutsche Bank has begun an investigation into the longtime personal banker of Donald Trump and son-in-law Jared Kushner for her purchase of a New York condo from a company partly owned by Kushner, according to two news reports.”6
President Trump and his family have been pushing the envelope on financial abuse his entire life and, to date, he has been able to get away with things because he did not come under the type of scrutiny that he is now being subjected to. I am sure that this is at the root of why he is fighting so desperately to keep his finances private. He knows and members of his family know that once that Pandora’s box is opened, it is highly likely that the extent of the Trump financial crimes will be exposed.
That is yet another reason he is so desperate to stay in office. He knows that once he is out of office, he will be just plain old American citizen, Donald J Trump, and he and his family will be legally vulnerable. Many people thought that once Trump ascended to the office of President of the United States that he would change, rise to the occasion and become more ‘presidential.’ That has not happened. He has not changed at all. He has a long history of questionable financial dealings – there is no reason to think he has changed in that area either. I believe that he is extremely fearful of being exposed for the fraud and criminal that he actually is. That, in and of itself, makes him a very dangerous man going in to this election.
- https://www.nytimes.com/2020/08/03/nyregion/donald-trump-taxes-cyrus-vance.html
- https://www.nytimes.com/2019/12/10/nyregion/trump-foundation-lawsuit-attorney-general.html
- https://www.nbcnews.com/politics/white-house/federal-court-approves-25-million-trump-university-settlement-n845181
- https://www.nbcnews.com/news/us-news/trump-bankruptcy-math-doesn-t-add-n598376
- https://www.theguardian.com/business/2019/apr/17/deutsche-bank-faces-action-over-20bn-russian-money-laundering-scheme
- https://www.huffpost.com/entry/deutsche-bank-jared-kushner-donald-trump-condo-investigation_n_5f279d15c5b68fbfc884ffed
I can see why Trump wants to get reelected because you can’t indite a sitting president. I guarantee if he looses the election he will have Pence pardon him for Federal crimes. What is more appalling is the Republican Party that mirror the “three monkeys” hear no evil, see no evil, and speak no evil when is comes to Trump. All of them should be held as his accomplices in all his crimes.