Jump to content
Sign Up To Remove Ads! | Purchase An Ad Slot!

Archived

This topic is now archived and is closed to further replies. Want this topic removed from the archive?

gxer

As No One Watched, Trump Pardoned 5 Megabanks For Corruption Charges—Who He Owes Millions

Recommended Posts

 gxer    485

Exemptions from Certain Prohibited Transaction Restrictions

https://www.federalregister.gov/documents/2017/12/29/2017-27977/exemptions-from-certain-prohibited-transaction-restrictions

As No One Watched, Trump Pardoned 5 Megabanks For Corruption Charges—Who He Owes Millions

http://thefreethoughtproject.com/trump-pardoned-megabanks-owes-millions-rampant-fraud-corruption/

Trump followed in the footsteps of Obama and pardoned five megabanks—one of which he reportedly owes up to $300 million in outstanding loans.

By 
Rachel Blevins - 
January 11, 2018

While Americans celebrated the holidays, President Trump followed in the footsteps of his predecessors by acting in the interest of Wall Street and using the distraction to do something that was not in the best interest of the American people. He pardoned five megabanks for rampant fraud and corruption, which is especially notable because of the amount of money he owes them.

Trump has been using Deutsche Bank since the 1990s, and Financial Times has reported that he now owes the bank at least $130 million in outstanding loans secured in properties in Miami, Chicago, and Washington. However, the report claimed that the actual number is likely much larger at $300 million.

Reports claimed that Deutsche was the only bank willing to lend Trump money after his companies faced multiple bankruptcies. The relationship has continued over the years, and an analysis from the Wall Street Journal claimed that Trump has received at least $2.5 billion in loans from Deutsche Bank over the last 20 years. 
Advertisment    ....

During the week of Christmas, the Federal Register announced that the Trump Administration had issued waivers to Citigroup, JPMorgan, Barclays, UBS and Deutsche Bank—all megabanks facing charges of fraud and corruption.

The banks were involved in the LIBOR Scandal, in which they colluded to deliberately depress the rate at which they paid out on investments. By suppressing the London Interbank Offered Rate (LIBOR) at the beginning of an economic crisis in 2007, the megabanks were able to boost their earnings and to give their customers a false sense of security.     ....

While Trump granted 5-year exemptions to Citigroup, JPMorgan, and Barclays, and 3-year exemptions to UBS and Deutsche Bank, it should be noted that his administration is not the only one to have done this. As International Business Times noted, “In late 2016, the Obama administration extended temporary one-year waivers to five banks,” which just happened to be the same ones Trump has now extended the exemptions on—revealing the real rulers in DC.

Not surprisingly, the latest decision to pardon the banks comes in stark contrast to one of Trump’s most applauded campaign promises—that he would finally stand up against Wall Street and demand that the most powerful banks be held accountable to the public.

“I’m not going to let Wall Street get away with murder. Wall Street has caused tremendous problems for us. We’re going to tax Wall Street,” Trump said during a campaign rally in January 2016.

Originally found @RMN's - http://www.rumormillnews.com/cgi-bin/forum.cgi?read=91373

Share this post


Link to post
Share on other sites
 apache54    6,046

They are all in the same bed, but they are not all of the same philosophy, so it keeps the people divided and conquered!!

Share this post


Link to post
Share on other sites

×