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  1. #1

    Trump Administration Waives Punishment For Convicted Banks, Including Deutsche

    http://www.ibtimes.com/political-cap...deutsche-which

    Trump Administration Waives Punishment For Convicted Banks, Including Deutsche — Which Trump Owes Millions
    The Trump administration has waived part of the punishment for five megabanks whose affiliates were convicted and fined for manipulating global interest rates. One of the Trump administration waivers was granted to Deutsche Bank — which is owed at least $130 million by President Donald Trump and his business empire, and has also been fined for its role in a Russian money laundering scheme.

    The waivers were issued in a little-noticed announcement published in the Federal Register during the Christmas holiday week. They come less than two years after then-candidate Trump promised “I'm not going to let Wall Street get away with murder.”

    Under laws designed to protect retirement savings, financial firms whose affiliates have been convicted of violating securities statutes are effectively barred from the lucrative business of managing those savings. However, that punishment can be avoided if the firms manage to secure a special exemption from the U.S. Department of Labor, allowing them to keep their status as “qualified professional asset managers.”

    In late 2016, the Obama administration extended temporary one-year waivers to five banks — Citigroup, JPMorgan, Barclays, UBS and Deutsche Bank. Late last month, the Trump administration issued new, longer waivers for those same banks, granting Citigroup, JPMorgan, and Barclays five-year exemptions. UBS and Deutsche Bank received three-year exemptions.

    In the year leading up to the new waiver for Deustche Bank, Trump’s financial relationship with the firm has prompted allegations of a conflict of interest. The bank has not only sought the Labor Department waiver from the administration, it has also faced Justice Department scrutiny and five separate government-appointed independent monitors. Meanwhile, the New York Times recently reported that federal prosecutors subpoenaed Deutsche for “bank records about entities associated with the family company of Jared Kushner, President Trump’s son-in-law and senior adviser.”

    All of these interactions with the Trump administration and the federal government are transpiring as Deutsche serves as a key creditor for the president’s businesses.

    Trump owes the German bank at least $130 million in loans, according to the president’s most recent financial disclosure form. Sources have told the Financial Times the total amount of money Trump owes Deutsche is likely around $300 million. The president’s relationship with the bank dates back to the late 1990s, when it was the one major Wall Street bank willing to extend him credit after a series of bankruptcies. In 2016, the Wall Street Journal reported Trump and his companies have received at least $2.5 billion in loans from Deutsche Bank and co-lenders since 1998.

    The relationship has had problems. After the financial crash, Trump defaulted on a $640 million loan from the bank. Deutsche brought Trump to court, and the famously litigious real estate mogul countersued for $3 billion in damages, claiming the financial crisis was a “force majeure” event that Deutsche Bank helped create. But the rift was short-lived: the parties settled, the loan was repaid, and Deutsche was soon lending to Trump again.

    In December, Bloomberg and others reported the bank had turned over financial records to special prosecutor Robert Mueller after his office subpoenaed the records as part of his investigation into possible collusion between the Trump campaign and Russia during the 2016 election. Trump’s lawyers have called that reporting inaccurate.

    “We have confirmed that the news reports that the Special Counsel had subpoenaed financial records relating to the President are false,” Trump attorney Jay Sekulow said in a statement. “No subpoena has been issued or received. We have confirmed this with the bank and other sources.”

    Less than three weeks later, the New York Times reported federal prosecutors had subpoenaed Deutsche Bank records related to White House senior adviser and Trump son-in-law Kushner and his vast business holdings. There is no evidence those subpoenas were related to Mueller’s investigation.

    The subpoenas come less than a year after Deutsche Bank was fined $425 million by New York State for laundering $10 billion out of Russia.

    All five of the banks granted waivers from the Obama and Trump administration were fined for their involvement in the LIBOR scandal that led to $9 billion worth of fines from regulators around the world. Deutsche Bank has paid $3.5 billion for its role in the scandal, more than any other bank. The scandal involved illegally manipulating the London Interbank Offered Rate or LIBOR, which is used to set the cost of borrowing for a variety of financial transactions.

    In 2015, Deutsche Bank pled guilty in the U.S. to wire fraud for its role in the scandal. Less than two years later, in the final hours of the Obama administration, Deutsche Bank agreed to a $7.2 billion settlement with the Justice Department for misleading investors in mortgage-backed securities between 2006 and 2007.
    Still winning I see.
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  2. #2
    “I'm not going to let Wall Street get away with murder.”

    Which is true, he's going to let them get away with everything.
    "My successes are my own, but my failures are due to extremist leftist liberals" - Party of Personal Responsibility

    Prediction for the future

  3. #3
    Quote Originally Posted by PosPosPos View Post
    “I'm not going to let Wall Street get away with murder.”

    Which is true, he's going to let them get away with everything.
    Right.....
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  4. #4
    The Unstoppable Force Theodarzna's Avatar
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    Welp, a Hillary clone with a zesty twitter account and dumb religious advisors and bad environment/ecology policy. *sigh*..... I won't be suprised if he invades Iran and Syria at this rate. Well at least Ben Shapiro and Paul Ryan will be pleased. D:
    Quote Originally Posted by Crissi View Post
    i think I have my posse filled out now. Mars is Theo, Jupiter is Vanyali, Linadra is Venus, and Heather is Mercury. Dragon can be Pluto.
    On MMO-C we learn that Anti-Fascism is locking arms with corporations, the State Department and agreeing with the CIA, But opposing the CIA and corporate America, and thinking Jews have a right to buy land and can expect tenants to pay rent THAT is ultra-Fash Nazism. Bellingcat is an MI6/CIA cut out. Clyburn Truther.

  5. #5
    The Undying Breccia's Avatar
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    International Business Times any better?

    I'll give you a hint: least-biased high factual content source.

    Or, perhaps you would care to read the waiver yourself? Here it is on a dot-gov website.

  6. #6
    Quote Originally Posted by Theodarzna View Post
    Welp, a Hillary clone
    You're still gonna keep this charade up, eh? If nothing else one must respect your dedication.

  7. #7
    Quote Originally Posted by Breccia View Post
    International Business Times any better?

    I'll give you a hint: least-biased high factual content source.

    Or, perhaps you would care to read the waiver yourself? Here it is on a dot-gov website.
    Was that a reply at me? Not sure who you was talking to with the "You" part of your post.

    Its late so my bad if not.
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  8. #8
    The Undying Breccia's Avatar
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    Quote Originally Posted by Jtbrig7390 View Post
    Was that a reply at me?
    No, general "you". Clarifying the source's nature.

  9. #9
    Quote Originally Posted by Theodarzna View Post
    Welp, a Hillary clone with a zesty twitter account and dumb religious advisors and bad environment/ecology policy. *sigh*..... I won't be suprised if he invades Iran and Syria at this rate. Well at least Ben Shapiro and Paul Ryan will be pleased. D:
    Every single one of these things was painfully obvious months before the election.
    Quote Originally Posted by Zantos View Post
    There are no 2 species that are 100% identical.
    Quote Originally Posted by Redditor
    can you leftist twits just fucking admit that quantum mechanics has fuck all to do with thermodynamics, that shit is just a pose?

  10. #10
    The Unstoppable Force Theodarzna's Avatar
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    Quote Originally Posted by Garnier Fructis View Post
    Every single one of these things was painfully obvious months before the election.
    Yes, twas' such a terrible election it was one barely worth voting in.
    Quote Originally Posted by Crissi View Post
    i think I have my posse filled out now. Mars is Theo, Jupiter is Vanyali, Linadra is Venus, and Heather is Mercury. Dragon can be Pluto.
    On MMO-C we learn that Anti-Fascism is locking arms with corporations, the State Department and agreeing with the CIA, But opposing the CIA and corporate America, and thinking Jews have a right to buy land and can expect tenants to pay rent THAT is ultra-Fash Nazism. Bellingcat is an MI6/CIA cut out. Clyburn Truther.

  11. #11
    Deleted
    'In late 2016, the Obama administration extended temporary one-year waivers to five banks — Citigroup, JPMorgan, Barclays, UBS and Deutsche Bank. Late last month, the Trump administration issued new, longer waivers for those same banks, granting Citigroup, JPMorgan, and Barclays five-year exemptions. UBS and Deutsche Bank received three-year exemptions.'

    surely this shows that whoever is in power, finance has the power to influence government and make a mockery of the rules as they see fit with only slap on the wrists to worry about.

    This seems to have been true of Obama and Trump judging by the article. The retreat of government to stand up to the finance sector is remarkable.

  12. #12
    Quote Originally Posted by Breccia View Post
    No, general "you". Clarifying the source's nature.
    Oh ok its late and I'm tired so I was a bit confused lol.
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  13. #13
    The Unstoppable Force Theodarzna's Avatar
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    Quote Originally Posted by ctd123 View Post
    'In late 2016, the Obama administration extended temporary one-year waivers to five banks — Citigroup, JPMorgan, Barclays, UBS and Deutsche Bank. Late last month, the Trump administration issued new, longer waivers for those same banks, granting Citigroup, JPMorgan, and Barclays five-year exemptions. UBS and Deutsche Bank received three-year exemptions.'

    surely this shows that whoever is in power, finance has the power to influence government and make a mockery of the rules as they see fit with only slap on the wrists to worry about.

    This seems to have been true of Obama and Trump judging by the article. The retreat of government to stand up to the finance sector is remarkable.
    No see, you deplorable Shitlord, Hillary Clinton (PBUH) would have told them to knock it off! Just ask @Garnier Fructis and @Edge-.

    /s
    Quote Originally Posted by Crissi View Post
    i think I have my posse filled out now. Mars is Theo, Jupiter is Vanyali, Linadra is Venus, and Heather is Mercury. Dragon can be Pluto.
    On MMO-C we learn that Anti-Fascism is locking arms with corporations, the State Department and agreeing with the CIA, But opposing the CIA and corporate America, and thinking Jews have a right to buy land and can expect tenants to pay rent THAT is ultra-Fash Nazism. Bellingcat is an MI6/CIA cut out. Clyburn Truther.

  14. #14
    Quote Originally Posted by Theodarzna View Post
    No see, you deplorable Shitlord, Hillary Clinton (PBUH) would have told them to knock it off! Just ask @Garnier Fructis and @Edge-.

    /s
    I wouldn't argue that. Thanks for putting words in my mouth though.
    Last edited by Garnier Fructis; 2018-01-10 at 08:31 AM.
    Quote Originally Posted by Zantos View Post
    There are no 2 species that are 100% identical.
    Quote Originally Posted by Redditor
    can you leftist twits just fucking admit that quantum mechanics has fuck all to do with thermodynamics, that shit is just a pose?

  15. #15
    Deleted
    Anything Obama had a had in will be made (or already is) undone by Trump.

    He takes everything very personal and that one time Obama roasted him at some dinner was also the day that according to many people close to him made Trump run for office to begin with.

  16. #16
    Quote Originally Posted by Deruyter View Post
    Anything Obama had a had in will be made (or already is) undone by Trump.
    I know you're going to vanish from this thread after making this post like you usually do, but I want to point out the hilarity of you writing this sentence after it was written in the article and emphasized a few posts up that Trump is extending something that Obama did.
    Quote Originally Posted by Zantos View Post
    There are no 2 species that are 100% identical.
    Quote Originally Posted by Redditor
    can you leftist twits just fucking admit that quantum mechanics has fuck all to do with thermodynamics, that shit is just a pose?

  17. #17
    What....!? Trump helps banks out?! Who could have seen that coming?

    Color me not surprised.

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  18. #18
    Quote Originally Posted by Dontrike View Post
    What....!? Trump helps banks out?! Who could have seen that coming?

    Color me not surprised.
    But he said he'd drain the swamps
    It's been a while actually since I've received a message from scrapbot...need to drink more i guess.
    Quote Originally Posted by Butter Emails View Post
    Trump is a complete shitbag that's draining the country's coffers to stuff his own.
    It must be a day ending in Y.

  19. #19
    Quote Originally Posted by Glnger View Post
    But he said he'd drain the swamps
    He is, he is. Swamps is just the non-rich, and draining is what money they have.
    Quote Originally Posted by Jtbrig7390 View Post
    True, I was just bored and tired but you are correct.

    Last edited by Thwart; Today at 05:21 PM. Reason: Infracted for flaming
    Quote Originally Posted by epigramx View Post
    millennials were the kids of the 9/11 survivors.

  20. #20
    Deutsche Bank is also the money laundering pile of crooks that Fusion GPS said in their public statement that the investigators SHOULD BE LOOKING INTO HINT HINT.

    Quote Originally Posted by PosPosPos View Post
    “I'm not going to let Wall Street get away with murder.”

    Which is true, he's going to let them get away with everything.
    He's not going to just let them, he's going to hold the knife for them.
    Quote Originally Posted by Tojara View Post
    Look Batman really isn't an accurate source by any means
    Quote Originally Posted by Hooked View Post
    It is a fact, not just something I made up.

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