More rats leaving a sinking ship.
Courtesy of Reuters:
Deutsche Bank has about $340 million (262 million pounds) in loans outstanding to the Trump Organization, the president’s umbrella group that is currently overseen by his two sons, according to filings made by Trump to the U.S. Office of Government Ethics in July and a senior source within the bank. The three loans, which are against Trump properties and start coming due in two years, are current on payments and personally guaranteed by the president, according to two bank officials.
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. The bank has over the years lent Trump more than $2 billion, one of the officials said.
One idea that has come up in the meetings: sell the loans in the secondary market, two of the bank officials said. But one of the officials said that idea has not gained traction, in part because it is not clear who would want to buy the loans and the attendant problems that come with it.
The current loans would come due in 2023 and 2024.
If Trump were not in office the back would have an easier time collecting as they could seize assets and properties if Trump did not pay up, that would be much more difficult if Trump remained in the White House.
It would be much easier for the bank to sell the debts to a third party and let them deal with it, but who would be willing to buy the loans of a man who will be facing multiple lawsuits once he leaves office in disgrace?
Even the Russians would likely consider Trump a bad investment if he loses the election because he would no longer have the power to do them any favors.
All in all, it appears that Trump’s life after the presidency is going to be rough going.
Gee, if only I could give a shit.