President Donald Trump listens during a briefing on drug trafficking at the southern border in the Roosevelt Room of the White House, Wednesday, March 13, 2019, in Washington. Trump said during the event the U.S. is issuing an emergency order grounding all Boeing 737 Max 8 and Max 9 aircraft "effective immediately," in the wake of the crash of an Ethiopian Airliner that killed 157 people. (AP Photo/ Evan Vucci)Associated Press- President Donald Trump was loaned more than a cumulative $2 billion over several decades by Deutsche Bank, according to a new report from The New York Times published on Monday.
- The Times spoke to more than 20 people who who either currently or previously worked as executives for Deutsche Bank, giving a broader look at the scope of the relationship.
- The report highlighted the business relationship between Deutsche Bank and Trump, as investigations are being conducted by two committees in Congress and the New York attorney general.
- Here's what we learned.
Deutsche Bank cumulatively loaned Donald Trump more than $2 billion over two decades when he was in real estate, according to a new report from The New York Times.
While Trump's relationship with Deutsche Bank - which dates back to the 1990s - is not entirely revelatory, The Times spoke to more than 20 people who who either currently or previously worked as executives for Deutsche Bank, giving a broader look at the scope of the relationship.
The bank was one of the few on Wall Street that would take a risk with Trump following his casino bankruptcies, The Times reported in 2016 ahead of that year's presidential election. ("Several bankers on Wall Street say they are simply not willing to take on what they almost uniformly referred to as 'Donald risk,'" The Times Susanne Craig reported.)Deutsche Bank, however, was trying to make inroads into Wall Street by taking on clients that other banks would not work with, according to the Financial Times. Through their ongoing business, Trump owes Deutsche Bank around $300 million, the Financial Time reported in 2017.
The New York Times' Monday night report highlighted the business relationship between Deutsche Bank and Trump, as investigations are being conducted by two committees in Congress and the New York attorney general.
Here's what we learned:
Deutsche Bank is not without its own issues with US regulators unrelated to Trump, The Hill reports. In a statement to The Times, a spokeswoman said, "We remain committed to cooperating with authorized investigations." Business Insider contacted the White House, Deutsche Bank, and the Trump Organization for comment.