US Democrats do not let loose on Trump loans

US Democrats do not let loose on Trump loans


The Democrats in the US Congress are once again asking for information about Deutsche Bank and other money institutions’ loans in the debate about alleged connections between President Donald Trump and Russia.

The US Treasury Department should hand over all the documents on loans to Trump, members of his family, and several close confidants, who were given by the Deutsche Bank, several Russian financial institutions, the government in Moscow or high-ranking Russian politicians, demanded five members of the opposition party on Friday. To this end, they submitted a resolution (“resolution of inquiry”). Whether they are able to make their way through this project is uncertain.

Jeb Hensarling, Republican President of the Finance Committee in the House of Representatives, must now decide within 14 days how to deal with the demands of the Democrats. If he ignored the request, the entire House of Representatives would deal with the resolution. The US Treasury Department would only have to act if the financial committee or the entire House of Representatives were to approve the application. This seems unlikely, however, since the Republicans have the majority.


No republican has signed the previous letters to Deutsche Bank, in which the five democratic deputies demanded information about the trump loans. The money house had rejected the request. “We want to cooperate, but we have to respect the laws,” he explained.

Germany’s largest bank had already been the focus of the US election campaign because it had still done business with Trump when he had long since fallen into disgrace at many of the major US institutions as an entrepreneur and real estate mogul. According to the Office of Government Ethics, which was published in mid-June, Trump had at least $315.6 million in debt to credit institutions, at least $130 million of which was held by Deutsche Bank Trust Company Americas.


In their resolution, Democrats from the US Treasury also demand documents on the money laundering affair in Russia. Dubious customers had washed $ 10 billion worth of money by buying shares in rubles and selling them back in dollars through Deutsche Bank in London. The money house has already negotiated an important partial comparison with authorities in Great Britain and the USA – with a penalty of around 600 million euros.

In addition to the Deutsche Bank, the Democrats from the US Treasury Department also demand information about loans from the Russian institutes VEB, Sberbank, AlfaBank, VTB, Gazprombank and Bayrock. The ministry, according to the wishes of the Democrats, will also provide documentation on possible loans from the institutes, including Foreign Minister Rex Tillerson, Justice Minister Jeff Sessions, Trade Minister Wilbur Ross, Trumps former election campaign manager Paul Manafort, Starinvestor Carl Icahn.

Several congress committees and a special investigator deal with the suspicions of a Russian interference in the US election campaign and allegations, according to which agreements have been made between Trumps employees and Russia. Trump rejected this.

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Javier Davis produces news on stocks, currencies, bonds, commodities, and real estate. His in-depth research covers most of the major financial markets in America, Europe, and Asia. His research is based on the interconnected relationships among economic and technical factors that drive valuations in the markets, with an emphasis on how to formulate investment strategies. From interest rates to inflation to economic growth and much more, the fundamental concepts presented on this website provide an essential foundation of knowledge for investors to profit in stocks, bonds, commodities, currencies, and real estate markets.