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Thu Jan 11, 2018, 04:04 PM

Trump Administration Gives Lucrative Waiver To Trumps Bank

Source: National Memo

David Sirota

Posted with permission from International Business Times


The Trump administration has waived part of the punishment for five megabanks whose affiliates were convicted and fined for manipulating global interest rates. One of the Trump administration waivers was granted to Deutsche Bank — which is owed at least $130 million by President Donald Trump and his business empire, and has also been fined for its role in a Russian money laundering scheme.

The waivers were issued in a little-noticed announcement published in the Federal Register during the Christmas holiday week. They come less than two years after then-candidate Trump promised “I'm not going to let Wall Street get away with murder.”

Under laws designed to protect retirement savings, financial firms whose affiliates have been convicted of violating securities statutes are effectively barred from the lucrative business of managing those savings. However, that punishment can be avoided if the firms manage to secure a special exemption from the U.S. Department of Labor, allowing them to keep their status as “qualified professional asset managers.”

In late 2016, the Obama administration extended temporary one-year waivers to five banks — Citigroup, JPMorgan, Barclays, UBS and Deutsche Bank. Late last month, the Trump administration issued new, longer waivers for those same banks, granting Citigroup, JPMorgan, and Barclays five-year exemptions. UBS and Deutsche Bank received 3-year exemptions.

Read more: http://www.nationalmemo.com/trump-administration-gives-lucrative-waiver-trumps-bank/



If this is not political corruption I don't know what is...................







November 2018 cannot get here fast enough

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Reply Trump Administration Gives Lucrative Waiver To Trumps Bank (Original post)
turbinetree Jan 2018 OP
Nitram Jan 2018 #1
Rene Jan 2018 #2
Delmette2.0 Jan 2018 #3
Ferrets are Cool Jan 2018 #4
pansypoo53219 Jan 2018 #5
FakeNoose Jan 2018 #6

Response to turbinetree (Original post)

Thu Jan 11, 2018, 04:56 PM

1. When Mueller presents evidence that Deutsche Bank facilitated deals between Trump and Russia,

this will be on more brick in the wall that locks Trump up for life.

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Response to turbinetree (Original post)

Thu Jan 11, 2018, 05:01 PM

2. Blatant Bribery/Influence peddling ! Who get convicted?

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Response to turbinetree (Original post)

Thu Jan 11, 2018, 06:46 PM

3. Can someone with standing file a law suit and get this stopped?

OMFG this man is crazy.

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Response to turbinetree (Original post)

Thu Jan 11, 2018, 06:56 PM

4. Every day I say this: When will it end?

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Response to turbinetree (Original post)

Thu Jan 11, 2018, 07:05 PM

5. SWAMPY!

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Response to turbinetree (Original post)

Fri Jan 12, 2018, 12:44 PM

6. K & R

Guys, remember this when the next big bank asks for a $ billion bail-out.

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