Friday, April 17, 2020

Deutsche Bank, Deutschi Bank Uber Alles

David Enrich is a gentle soul. He has written one of the most damning books about the world's largest bank and managed to do so while remaining a gentleman.

Perhaps that's the power of "Dark Towers". It lays it all out in calm detail and lets you draw your own conclusions. It's an excellent book.

Deutsche Bank has a long history of ineptitude and corruption. It's not every bank that can boast of funding Nazis and helping them to build concentration camps.

It's the only American bank that continued to loan money to Donald Trump and his family after every other American bank refused because of his terrible financial history.

It's was also the most aggressive bank in terms of helping Russia/Russian Oligarchs/Russian Mobsters to launder their money.

As disturbing as this book is, and it is massively disturbing, what I find most infuriating is the apparent level of acceptance of blantant criminal activity among those who are supposed to enforce regulations, prosecute bank fraud and protect investors.
It's also disheartening to know that so many people are willing to sell their souls in the interest of making money and advancing their careers. It's especially upsetting when you realize that they are doing this for social status. Imagine a herd of Steven Mnuchin types.

Deutsche Bank should have been known as the Bank of Ebola because it was clearly a virus that infected and destroyed all kinds of other financial institutions. It's responsible for pushing a lot of worthless paper on unwitting investors.

Supreme Court Justice Anthony Kennedy's son, Justin, worked at Deustche Bank in its commercial real estate division. That division is reported to have approved loans to Trump of over one billion dollars. Trump is reported to have gone out of his way to compliment Justin.

What this had, if anything, to do with Justice Kennedy's sudden and abrupt resignation from his seat on the Supreme Court in 2018 has spawned many rumors.

Trump replaced Justice Kennedy with Neil Gorsuch. Kennedy tended to be a liberal and Gorsuch is a dyed in the wool conservative. The Supreme Court now has a clear conservative majority.

What would a scandal be these days without William Barr popping up in the middle of it. He is accused of shielding Donald Trump from investigations related to Deutsche Bank.

Fascism is a tedious business. It requires funding and what better bank to use than one that had a history funding Nazis?

Holy Moly!

3 comments:

  1. Thoroughly enjoyed this book. The history behind Deustche Bank was disturbing. The manipulations by the banking industry were eye opening. Lots of questions about the Supreme Court story.

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  2. Another great recent read was "Blowout" by Rachel Maddow. I did a piece on that on 10/28/19.

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    Replies
    1. I own this one as well and it is unread. LOL!

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