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Democrats subpoena banks as they probe Trump finances

43 Comments
By Mary Clare Jalonick

Two House committees subpoenaed Deutsche Bank and several other financial institutions Monday as part of investigations into President Donald Trump's finances.

House Intelligence Committee Chairman Adam Schiff, D-Calif, said in a statement that the subpoenas are part of an investigation "into allegations of potential foreign influence on the U.S. political process."

Schiff did not name the other financial institutions or describe the subpoenas.

House Financial Services Committee Chairwoman Maxine Waters, D-Calif, said in a separate statement that "the potential use of the U.S. financial system for illicit purposes is a very serious concern." She said her committee is looking into those matters, including whether they pertain to Trump.

It was unclear exactly what the committees asked for. The investigations are among several House Democrats are conducting into aspects of the president's personal and political life, and Schiff has said he is investigating whether foreign actors, including Russia, have sought to hold leverage over Trump or his family and associates.

As part of his investigation, Schiff has said he wants to know whether Russians used laundered money for transactions with the Trump Organization. Trump's businesses have benefited from Russian investment over the years.

Deutsche Bank is a German asset management firm that has lent Trump's real estate organization millions of dollars over time. The two committees have been working with the bank for several weeks, and both Waters and Schiff have said officials have been cooperative. Schiff said in his statement that the subpoena to Deutsche Bank is a "friendly" subpoena, meaning he expects them to continue working with the committees.

The request comes as a third committee, the House Ways and Means Committee, is sparring with the White House over Trump's tax returns.

House Ways and Means Chairman Richard Neal, D-Mass, has set a deadline of April 23 for six years of returns. But Trump's acting chief of staff, Mick Mulvaney, has said Democrats will "never" see the returns, "nor should they," and "they know it."

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

©2019 GPlusMedia Inc.

43 Comments

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They will probably get more info from bank subpoenas than Trumps tax returns.

3 ( +5 / -2 )

Go for it (or was it "him").

Where there's smoke ...... and so on.

4 ( +6 / -2 )

At this point the Dems are desperate to find any dirt at all on Trump. Pathetic losers.

-8 ( +4 / -12 )

At this point the Dems are desperate to find any dirt at all on Trump. Pathetic losers.

Name calling because you can't come up with anything good to say is pretty pathetic.

5 ( +8 / -3 )

@serrano At this point the Dems are desperate to find any dirt at all on Trump. Pathetic losers.

Only Trump's most loyal followers could be so desperate that they'd defend him, his family members, and those he's hired to help his dodgy businesses.

Trump's a corrupt businessman and a corrupt politician.

No one is above the law. I'm trying to recall which poster it was who used to bang on about laws for peasants, not the elite. har

Truth out!

6 ( +6 / -0 )

Deutsche Bank has more skeletons in its closet than a cadaver school. The info should buttress whatever the House gleans from the IRS.

6 ( +7 / -1 )

At this point the Dems are desperate to find any dirt at all on Trump. Pathetic losers.

This will fail as well, now it really looks like desperation and once again, they’ll be shot down and then they’ll try something else and at the same time miss the opportunity to legislate as a party. They’ll be one term politicians for sure.

-9 ( +1 / -10 )

I guess the problem we all know Trump is corrupt and frequently bends the rules, lies and cheats so I guess the democrats think if they can dig enough they'll find the kind of evidence that fits the suspected crimes.

But is that any different than all the screaming loonies who want to investigate every aspects of Hillary who wasn't found to have committed a single crime.

Hillary was in public service for decades while Trump involved himself in business including several dodgy bankruptcies.

4 ( +5 / -1 )

I guess the problem we all know Trump is corrupt and frequently bends the rules, lies and cheats so I guess the democrats think if they can dig enough they'll find the kind of evidence that fits the suspected crimes.

He’s a Washington politician, goes with the territory.

But is that any different than all the screaming loonies who want to investigate every aspects of Hillary who wasn't found to have committed a single crime.

When you have a media that’s on your side as well as Hollywood and government workers, yeah, they can overlook everything.

Hillary was in public service for decades while Trump involved himself in business including several dodgy bankruptcies.

As did the Clinton’s.

-9 ( +0 / -9 )

When you have a media that’s on your side as well as Hollywood and government workers, yeah, they can overlook everything.

Like Fox News and countless Hollywood Republicans like Clint Eastwood, John Malkovich, Kurt Russell, Vince Vaughan, Stephen Baldwin etc?

3 ( +3 / -0 )

He’s a Washington politician, goes with the territory.

Trump lied, cheated, and bent the rules long before he became a Washington politician. It's nice that you finally admits that he lies, cheats, and bends the rules though.

When you have a media that’s on your side as well as Hollywood and government workers, yeah, they can overlook everything.

A deeeeeeep dive into right wing conspiracy territory. Odd that you think a corrupt, biased investigation by Mueller could produce credible results, but investigations into Hillary don't. Wish-wash, wish-wash.

As did the Clinton’s.

Youre, "two wrongs make a right" defense is hilarious. Not to mention the Clintons never filed bankruptcy. Let's be slightly accurate, please; it helps keep the tone of the conversation decent.

5 ( +5 / -0 )

I guess the problem we all know Trump is corrupt and frequently bends the rules, lies and cheats so I guess the democrats think if they can dig enough they'll find the kind of evidence that fits the suspected crimes.

The real problem, as many posters on this website demonstrate, isn't that Trump is corrupt. It's not that he and his administration are attempting to fundamentally undermine the democratic principles of the republic, it's that his supporters don't care. If the Democratic Party discovered iron-clad proof that Trump is a criminal, they'd reply, "So? His crimes are good and cool". They're full on cultists.

5 ( +5 / -0 )

If Trump released his tax returns like everyone else in his situation, and as he repeatedly promised to do, there would be no need to bother with bank documents as everything would already be known.

Trump clearly has good reason to hide things that will reveal the awful truth about his fake assets, foreign funding, tax fraud and who knows what else. It's an absolute necessity to get to the bottom of the Trump swamp.

And let's stop pretending about this 'being audited' nonsense. In the unlikely event that were ever true, it would still be utterly irrelevant. Was never a reason not to release the info.

3 ( +3 / -0 )

Wow, imagine that. A bank in Europe lending money to a major American conglomerate.

There is nothing illegal about that at all, and the Democrats full well know that.

Then again, maybe they don't know that. Most of them are economic illiterates and left-wing ideologues who have never worked in the private sector, and who don't know anything about the world of business or economics.

This is just more political harassment of a president who can't be defeated by his opponents when it comes to real issues.

-7 ( +1 / -8 )

Just trying to think has there ever been an American President have so much mud slung at them because the Democrats favourite lost an election. With the amusing thing is every tactic so far has resulted in total failure.

Russian collusion - Fail, Trying to remove the President under the "Unfit to Serve" section of the Constitution - Fail, Sex Scandals - Fail.

Now we have Tax Returns - another waste of time, hasn't anyone realised the IRS would have already brought him before the courts if there was something wrong.

With all the duds lining up in the Democrat side wanting to be President, reeks of total desperation.

-7 ( +0 / -7 )

Like Fox News and countless Hollywood Republicans like Clint Eastwood, John Malkovich, Kurt Russell, Vince Vaughan, Stephen Baldwin etc

Ok, so that’s 5 compared to a couple hundred of liberals that outnumber the conservatives 5 to 1.

Nice try.

Trump lied, cheated, and bent the rules long before he became a Washington politician.

He’s a businessman, he got a head start. That’s why he can play the game of the politicians, if you can’t swim, you’ll sink like a stone, that’s why he could win the Presidency.

A deeeeeeep dive into right wing conspiracy territory. Odd that you think a corrupt, biased investigation by Mueller could produce credible results, but investigations into Hillary don't. Wish-wash, wish-wash.

No, just saying the truth. Clinton, Lerner, Holder, Lynch, Comey with the amount of evidence around and their surrogate Washington corrupt cops just looked and kept walking and with Trump, not a hint of Russian collusion and the cops needed to lie and get a bogus investigation going to try and justify something that everyone knew was a dud, but now the instigators will be investigated, so some good news on the horizon.

You're, "two wrongs make a right" defense is hilarious.

Actually, it’s not. Had the feds done to Clinton or Obama, the Earth would fall completely from its axis. There is no way, the Democrats would have allowed a witch hunt like this to happen, we both know it. I can see it now 19 Republican lawyers.....boy, the outcry of racism and sexism would permeate the air for years and years.

Not to mention the Clintons never filed bankruptcy. Let's be slightly accurate, please; it helps keep the tone of the conversation decent.

The Clinton’s didn’t have to, they had dozens of offshore and various accounts, come on, Chip! Both Clinton’s are lawyers, give them some credit, although hiding that had in a restaurant in a restroom or her aides husband PC is definitely creative. I’ll give her props for that.

-9 ( +0 / -9 )

Trump Denial Syndrome.

He’s a businessman, he got a head start. 

You mean $50 million from his father but you said you wouldn't do that with your own kids? BTW He never repaid his father.

How many could walk into a bank and ask fro an interest free $50 million loan?

that’s why he could win the Presidency.

He won because of the current wave of popularism. But lost the popular vote with the lowest crowd turnout for is inauguration.

7 ( +7 / -0 )

Just trying to think has there ever been an American President have so much mud slung at them 

And just which president has thrown more mud slinging than Trump. He lives on it. Live by the tweet, die by the tweet.

6 ( +6 / -0 )

You mean $50 million from his father but you said you wouldn't do that with your own kids? BTW He never repaid his father.

He did, he said so.

.

He won because of the current wave of popularism. But lost the popular vote with the lowest crowd turnout for is inauguration.

Which doesn’t mean a bean of difference in our system.

-9 ( +0 / -9 )

He did, he said so.

You believe everything a proven liar tells you?

6 ( +7 / -1 )

Trump never repaid the $50 million to his father, claiming it was off his inheritance.

https://www.nytimes.com/2018/10/02/us/politics/donald-trump-wealth-fred-trump.html

https://www.washingtonpost.com/news/fact-checker/wp/2016/03/03/trumps-false-claim-he-built-his-empire-with-a-small-loan-from-his-father/?noredirect=on&utm_term=.0eacb63c0707

copy that!

Which doesn’t mean a bean of difference in our system.

Well it did to Trump who claimed the photo's of his inauguration were fakes.

6 ( +7 / -1 )

During his lifetime, Fred Trump Sr transferred in total more than $1 billion in wealth to his kids, but a new report claims Donald Trump received much more than his siblings.

According to a years-long investigation by the New York Times, president Trump received at least $413 million in today's dollars from his father's real estate empire - $140 million of which was a loan. 

The Times reports that at the tender age of three, Trump was earning $200,000 a year in 2018 dollars from his dad's business empire, becoming a millionaire by age eight.

6 ( +6 / -0 )

Trump's entire 'business' was a fake, as the NYT article showed us. Never been challenged by the Trump side, meaning they accept it as true. We need the Deutsche data to update us on the continuing scams of recent decades.

4 ( +4 / -0 )

Trump never sued the NYT for slander or misinformation because he would have lost in court.

5 ( +6 / -1 )

*Amazing

1 ( +1 / -0 )

Why after two and a half years does this statement still start with “if”? Prove a crime then we will talk about how I feel about what you supposedly proved.

. If the Democratic Party discovered iron-clad proof that Trump is a criminal, they'd reply, "So? His crimes are good and cool". They're full on cultists.

-5 ( +1 / -6 )

Good job - keep pressing. Deutsche Bank is tied with the subject that intersects with everything in Trump-world - Russia....

Get him on the stand or in the well of Congress and ask him questions - we'll see if he follows the pattern of his six senior advisers - and lies under oath.

https://foreignpolicy.com/2018/12/21/how-russian-money-helped-save-trumps-business/

2 ( +3 / -1 )

So what if he is so rich. So what if he was given it all from his father. Not our business.

Ive met many filthy rich people in my life. Only know 2 who were actually really happy.

Trump may be rich, but he has to cheat at golf, cheat on his pregnant wife, lie to everybody, order wars in places he doesn’t even know about, suffer insecurity, very low approval ratings, Twitter in his bed at night eating junk food...you have to feel sorry for him.

He just needs to be loved. Someone to wrap their arms around him, squeeze him gently, and tell him that although he has been a very naughty boy, if he changes and becomes more compassionate and human...he can find real friends and happiness.

-1 ( +1 / -2 )

Yeah yeah. And he is one of only 40 or so people to have ever been president of the United States and is a billionaire with a model wife.

Yep his life is so horrible. Keep on believing that.

-4 ( +1 / -5 )

House Intelligence Committee Chairman Adam Schiff, D-Calif

I can't believe this schmuck is still House Intelligence Committee Chairman. He should be kicked out of Congress for lying to the American people about having non-existent evidence of Trump-Russia collusion.

The Democrats really do have unmitigated gall trying to dig up dirt on the president. They will pay dearly for this in 2020.

-5 ( +0 / -5 )

Yeah yeah. And he is one of only 40 or so people to have ever been president of the United States

So was Nixon - same, same...

and is a billionaire

From his Dad - and has had six bankruptcies...

with a model wife.

And still cheats on her with porn stars and Playboy Bunnies...

Yep his life is so horrible. Keep on believing that.

No, he makes our life horrible...

The Democrats really do have unmitigated gall trying to dig up dirt on the president.

Dang straight - keep all that dirt buried, right AG Barr?

They will pay dearly for this in 2020.

Notice how the word "pay" as in "payoff" always gets brought up when discussing Trump...

2 ( +3 / -1 )

Reaching the White House and being president is only the beginning of the process not the end.

3 ( +3 / -0 )

No bank in America will give him a loan. Probably because he's such a great businessman.

5 ( +5 / -0 )

and is a billionaire

From his Dad... - and has had six bankruptcies...

He didn't get a billion dollars from his dad. Oops.

- and has had six bankruptcies...

And recovered and made billions. hehe

with a model wife.

And still cheats on her with porn stars and Playboy Bunnies...

You have proof of this, right? What? You don't?

Yep his life is so horrible. Keep on believing that.

No, he makes our life horrible..

Lessee...

4 million jobs created

Record elimination of regulations

Lowest unemployment ever for blacks and Hispanics - overall rate at 3.8 percent in March, while wage growth kept its momentum, ensuring that pay is growing faster than inflation

Median household income record

3.9 million Americans off food stamps

Oh my.

-4 ( +0 / -4 )

No bank in America will give him a loan.

He doesn't need a loan, zichi.

-4 ( +0 / -4 )

He didn't get a billion dollars from his dad. Oops

He’s not with a billion. Oops.

1 ( +2 / -1 )

Serrano

He doesn't need a loan, zichi.

I didn't say that since his father set him up with about $450 million. Some of his supporters claim he repaid but like many other debts he didn't.

I asked how many common people could ask any bank for an$50 million non interest loan.

Answer:Why none!

4 ( +4 / -0 )

He doesn't need a loan

Then why does he take them from Russia?

3 ( +3 / -0 )

Lowest unemployment ever for blacks and Hispanics - overall rate at 3.8 percent in March, while wage growth kept its momentum, ensuring that pay is growing faster than inflation

Actual more fake news or a gross bending of the truth. The rate was dropping under Obama and had reached a low when he left office. If you want to be really honest you should quote the rates at the end of 2016, then 2017 and 2018 then you would the true rate falls since Trump became president.

Trump to date has added $2 trillion to the National Debt.

The rich have gained the most from the tax breaks. Some lower paid working people nothing.

2 ( +2 / -0 )

What are people called who go outside law enforcement to try and uncover illegal activities?

Almost every business uses loans. It is a common practice, even for payroll before the clients pay in 30-90 days. The larger the projects being worked, the more likely that a business will want to spread the risk for that project out. It is called leverage.

US banks wouldn't give President Trump a loan for many reasons. They are unable to tell how often he is using assets as collateral in other loans. Shell game.

I would doubt that Trump has any personal loans from any banks, but his 200+ related companies probably do to have working capital. What the Trump family has learned is that the appearance of being wealthy is their key to the money shell-game.

0 ( +1 / -1 )

They guy was given $400 million and I could get a loan in the US before he could.

How did he screw that up?

4 ( +5 / -1 )

"Deutsche Bank AG rebuffed a request from the Trump Organization in March 2016 to increase a loan for the Trump National Doral, a Florida golf resort, because of concerns about expanding the bank’s relationship with then-candidate Donald Trump or his company, according to people familiar with the matter."

https://www.marketwatch.com/story/deutsche-bank-turned-down-trump-organization-loan-request-during-2016-campaign-2019-02-02

3 ( +3 / -0 )

It seems that Dems in the US House are determined to get Trump re-elected.

-6 ( +0 / -6 )

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