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Fri Feb 21, 2020, 10:50 PM

'Dark Towers' Chases Scandal-Ridden Deutsche Bank's Mysterious Ties To Donald Trump

(Not Stephen King-related).

https://www.npr.org/2020/02/18/806984703/dark-towers-is-a-cautionary-tale-of-pursuing-profits-at-any-cost

...

It started by recruiting Edson Mitchell, an American executive from Merrill, who believed Deutsche Bank's "stubborn Germanness was the main impediment to unleashing its full animal spirits." Mitchell set about building a global markets operation, not at the bank's Frankfurt headquarters but in London, where he could function more independently. He hired a staff of "bloodthirsty piranhas" from Wall Street who knew how to push boundaries, as Enrich's tale tells.

Among them was Bill Broeksmit, a risk management genius who subsequently killed himself as regulators were moving in on the bank and whose death is the mystery Enrich uses to frame the story.

Mitchell died early in a plane crash, but the machinery he built kept chugging along. Enrich tells the story of its rise and fall in the careful style of a good newspaper reporter (he is an editor at The New York Times) but allows the complicated material to unfold like a good novel.

Just how disconnected the bank became can be seen in its ongoing relationship with a then New York real estate developer named Donald Trump, whose multiple bankruptcies had made him a pariah in the banking world. One part of Deutsche Bank turned down Trump's request for a loan. But the private banking division, which catered to the rich and famous, arranged the loan anyway and then, when Trump stopped making payments, arranged another one.



Related threads

The son of a dead Deutsche Bank executive -- armed with hundreds of confidential bank files
https://www.democraticunderground.com/100212530426


A senior Deutsche Bank executive who signed off on major Trump loans killed himself in CA
https://www.democraticunderground.com/100212733693

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Reply 'Dark Towers' Chases Scandal-Ridden Deutsche Bank's Mysterious Ties To Donald Trump (Original post)
Roland99 Feb 2020 OP
smirkymonkey Feb 2020 #1
crickets Feb 2020 #2

Response to Roland99 (Original post)

Sat Feb 22, 2020, 07:16 AM

1. K&R

 

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Response to Roland99 (Original post)

Sat Feb 22, 2020, 11:48 AM

2. K&R for visibility.

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