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Paging AF about Deutsche Bank Note

By rd6B follow rd6B   2019 Nov 27, 12:15pm 143 views   14 comments   watch   nsfw   quote   share    


Appears that it will be vaporized as people who know anything are busily killing themselves.

https://www.zerohedge.com/markets/senior-deutsche-bank-exec-linked-millions-donald-trump-loans-commits-suicide

Thomas Bowers, a former Deutsche Bank executive and head of the bank's US private wealth-management division (i.e., the group catering to ultra wealthy clients), killed himself by hanging in his Malibu residence last Tuesday, November 19th, according to the coroner’s initial report. Bowers was 55.
Bowers was boss to Trump’s personal banker Rosemary Vrablic, who according to the NYT report helped steer more than $300 million in loans to Donald J. Trump in the years before he was elected president.
1   APOCALYPSEFUCKisShostikovitch   ignore (49)   2019 Nov 27, 1:03pm     ↓ dislike (0)   quote   flag        

Thanks, Mr. R, been following.

BaFin's been sitting inside DB for years when the laundering became too obvious to ignore and the Panama Papers put enough names on the cash flows to provoke a raid around this time last year. Just the heat and his current health could have been inspiration enough. Who knows?

https://forensicnews.net/2019/11/27/deutsche-bank-executive-who-signed-off-on-trump-loans-kills-self-at-age-55/
"[F]ederal investigators have asked about Bowers and documents he might have."

They're all looking for the underwriting memoranda and what is there may not conclusively tell them who authorized the note. Something at this level of risk to the bank goes to the board. There's the money and the attentions of regulators if the note goes sour.

My sense is that there is not what you'd expect by way of risk discussion on the note memo - but there is a co-signer of deep resources. There was in those days post-casinopocalypse no reason for any bank to talk to Trump except to, perhaps, advise him on liquidation, restructuring and fee-bearing services. Loaning TTO new money would have been off the menu given his credit history and the smoldering wreck he'd made of dad's enterprise.
2   HEYYOU   ignore (46)   2019 Nov 27, 4:37pm     ↓ dislike (0)   quote   flag        

AF is a Bank of America kinda guy.

I'm starting a new bank. Where's my bailout?
3   APOCALYPSEFUCKisShostikovitch   ignore (49)   2019 Nov 27, 4:53pm     ↓ dislike (0)   quote   flag        

Stop with this slander, you rascal! I'm a state-chartered credit union kind of guy, i'll have you know!

You have to start a new bank, load all of the money to organized crime (your friends), let them default on the notes and then you can go get a bail out.

It's a lot of work. You have to be committed to failure.
4   rd6B   ignore (1)   2019 Nov 27, 4:59pm     ↓ dislike (0)   quote   flag        

APOCALYPSEFUCKisShostikovitch says
co-signer of deep resources

Wise guys from NY or E. Europe, or sth like that, perhaps?
5   APOCALYPSEFUCKisShostikovitch   ignore (49)   2019 Nov 27, 5:21pm     ↓ dislike (0)   quote   flag        

Likely one of the 'Stans.
6   rd6B   ignore (1)   2019 Nov 28, 8:25am     ↓ dislike (0)   quote   flag        

More, I wonder if the suicide is in any way, shape, or form related to this:

https://moneymaven.io/mishtalk/economics/trump-accused-of-fraud-with-two-sets-of-books-67Y2h6WXL0SVm3ZSKvKCvA/

Documents obtained by ProPublica show stark differences in how Donald Trump’s businesses reported some expenses, profits and occupancy figures for two Manhattan buildings, giving a lender different figures than they provided to New York City tax authorities. The discrepancies made the buildings appear more profitable to the lender — and less profitable to the officials who set the buildings’ property tax.

For instance, Trump told the lender that he took in twice as much rent from one building as he reported to tax authorities during the same year, 2017. He also gave conflicting occupancy figures for one of his signature skyscrapers, located at 40 Wall Street.

Lenders like to see a rising occupancy level as a sign of what they call “leasing momentum.” Sure enough, the company told a lender that 40 Wall Street had been 58.9% leased on Dec. 31, 2012, and then rose to 95% a few years later. The company told tax officials the building was 81% rented as of Jan. 5, 2013.

Mish is no librul, and AFAIK is a good analyst, so this may be trusted unless primary sources are wrong. From what I can tell, this very likely is cooking the books to make oneself more palatable to lenders. It is extremely curious that this did not come out during elections.
7   APOCALYPSEFUCKisShostikovitch   ignore (49)   2019 Nov 28, 8:39am     ↓ dislike (0)   quote   flag        

rd6B says
From what I can tell, this very likely is cooking the books to make oneself more palatable to lenders. It is extremely curious that this did not come out during elections.


Most any multi-unit landlord so interrogated would likely turn up the same findings. Trump's entitled. The banks should assume they're being lied to and perform their due diligence and laugh at him when they discover his lies and call security to cart him away to protect the interests of the bank. All part of the game.

The DB note is a different deal and speaks to the capacity of the executive - in this case, Trump - to act independently and on behalf of the interests of the United States of America.
8   I Swallowed a Red Pill   ignore (0)   2019 Nov 28, 9:26am     ↓ dislike (0)   quote   flag        

Trump likely has three sets of books: one for tax authorities, one for DB, and one for oligarch money launderer/lenders.
9   HEYYOU   ignore (46)   2019 Nov 28, 9:43am     ↓ dislike (0)   quote   flag        

APOCALYPSEFUCKisShostikovitch says
You have to be committed to failure.


'That's funny,I don't care who you are!'
I'll be using that.
10   APOCALYPSEFUCKisShostikovitch   ignore (49)   2019 Nov 28, 10:31am     ↓ dislike (0)   quote   flag        

In this context, it's a synonym for the old mob term 'bust out'. Seen it happen to banks more than I'd ever have imagined when I started watching that crowd.
11   APOCALYPSEFUCKisShostikovitch   ignore (49)   2019 Nov 28, 10:34am     ↓ dislike (0)   quote   flag        

I Swallowed a Red Pill says
and one for oligarch money launderer/lenders.


Exactly. The owners get to see the real books.

Smart operators, they needed them to understand how far they could stress TTO for their own ML requirements. Landing loot inside of the legitimate economy is the core competence of organized crime.
12   rd6B   ignore (1)   2019 Nov 28, 11:04am     ↓ dislike (0)   quote   flag        

APOCALYPSEFUCKisShostikovitch says
Exactly. The owners get to see the real books.

Smart operators, they needed them to understand how far they could stress TTO for their own ML requirements. Landing loot inside of the legitimate economy is the core competence of organized crime.

Yeah, saw this type of stuff in my younger days in E. Europe. Local mob put a "tax" on a local business, but the business complained that it is too much - their earnings are lower than what mob thought. So mob put a few guys inside the business to count customers...turned out business was right and "tax" was decreased. It is clear what would have happened if business was dishonest to mob. Take away - only the mob gets to see the real books...Any type of transactions with the mob stay with person forevah as they will be trotted out whenever it is deemed profitable.
13   APOCALYPSEFUCKisShostikovitch   ignore (49)   2019 Nov 30, 9:44am     ↓ dislike (0)   quote   flag        

Right. They're tolerant of this kind of shit. The mob doesn't do deals. They extort you until they want to bust out your enterprises. Brighton Beach merchants didn't know what hit them when the Russian mob showed up. Decades of quiet, mundane lawfulness of New York left them unprepared.
14   HEYYOU   ignore (46)   2019 Nov 30, 10:52am     ↓ dislike (0)   quote   flag        

Anyone that doesn't bank with Wells Fargo is a loser.

Merchants need to form their own little club. "Don't come in any business & threaten any of us.Every other business will immediately see your picture in email & you might have to deal with other members of our club.
Merchants need to go to Russian communities & tell them that had better police their filth or they could face mass shooters.
Fuck ball less Americans.

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