Trump Denies Report That Deutsche Bank Ignored Suspicious Transactions: “I Don’t Need Banks”

The president has amassed more personal debt than any other in US history.

Olivier Douliery/ZUMA

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The morning after the New York Times reported that Deutsche Bank repeatedly dismissed concerns of suspicious activity, including potential money-laundering attempts by President Donald Trump and his son-in-law Jared Kushner in 2016 and 2017, Trump did his best to reject the latest investigation into his longstanding, fraught ties with the German bank.

“The Failing New York Times (it will pass away when I leave office in 6 years), and others of the Fake News Media, keep writing phony stories about how I didn’t use many banks because they didn’t want to do business with me. Wrong!” Trump began on Twitter.

He went on to falsely claim that he had never sought loans from other banks, despite his personal financial disclosures showing he has done exactly that, while continuing to amass more debt than any other president in US history. Trump then appeared to confirm one aspect of the Times‘ reporting, that he and Kushner often engaged in all-cash deals, some of which involved foreign entities. Trump asserted that this was evidence that he “doesn’t need banks.”

“No, I built a great business and don’t need banks, but if I did they would be there,” he tweeted.

In the scramble to defend the relationship with Deutsche Bank, Trump on Monday evidently left out some information, an error he blamed on Twitter. “Two Tweets missing from last batch, probably a Twitter error,” the president remarked. “No time for a redo! Only the Dems get redos!”

That apparent joke has since been deleted.

Last month, Trump and his family sued Deutsche Bank and Capital One in an effort to block Democrats from investigating their personal finances.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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