Trump Denies Report That Deutsche Bank Ignored Suspicious Transactions: “I Don’t Need Banks”

The president has amassed more personal debt than any other in US history.

Olivier Douliery/ZUMA

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The morning after the New York Times reported that Deutsche Bank repeatedly dismissed concerns of suspicious activity, including potential money-laundering attempts by President Donald Trump and his son-in-law Jared Kushner in 2016 and 2017, Trump did his best to reject the latest investigation into his longstanding, fraught ties with the German bank.

“The Failing New York Times (it will pass away when I leave office in 6 years), and others of the Fake News Media, keep writing phony stories about how I didn’t use many banks because they didn’t want to do business with me. Wrong!” Trump began on Twitter.

He went on to falsely claim that he had never sought loans from other banks, despite his personal financial disclosures showing he has done exactly that, while continuing to amass more debt than any other president in US history. Trump then appeared to confirm one aspect of the Times‘ reporting, that he and Kushner often engaged in all-cash deals, some of which involved foreign entities. Trump asserted that this was evidence that he “doesn’t need banks.”

“No, I built a great business and don’t need banks, but if I did they would be there,” he tweeted.

In the scramble to defend the relationship with Deutsche Bank, Trump on Monday evidently left out some information, an error he blamed on Twitter. “Two Tweets missing from last batch, probably a Twitter error,” the president remarked. “No time for a redo! Only the Dems get redos!”

That apparent joke has since been deleted.

Last month, Trump and his family sued Deutsche Bank and Capital One in an effort to block Democrats from investigating their personal finances.

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REAL QUICK, REAL URGENT

Minority rule, corruption, disinformation, attacks on those who dare tell the truth: There is a direct line from what's happening in Russia and Ukraine to what's happening here at home. And that's what MoJo's Monika Bauerlein writes about in "Their Fight Is Our Fight" to unpack the information war we find ourselves in and share a few examples to show why the power of independent, reader-supported journalism is such a threat to authoritarians.

Corrupt leaders the world over can (and will) try to shut down the truth, but when the truth has millions of people on its side, you can't keep it down for good. And there's no more powerful or urgent argument for your support of Mother Jones' journalism right now than that. We need to raise about $450,000 to hit our online fundraising budget in these next few months, so please read more from Monika and pitch in if you can.

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