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Title: Trump's Big Bank Theory.
Source: [None]
URL Source: https://www.msnbc.com/velshi-ruhle/ ... -millions-to-one-1134798915777
Published: Feb 14, 2018
Author: Velshi
Post Date: 2018-02-14 17:32:56 by bush_is_a_moonie
Keywords: None
Views: 396
Comments: 3

Smile Trumpbots !!!!

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#1. To: All (#0)

n late December, when the Trump administration permitted five global banks to continue managing corporate retirement plans even after they had pleaded guilty to criminal charges relating to errant currency trading practices, it went almost unnoticed amid the holiday season’s distractions. The administration was also not seen as going out of the way to favor the banks; it merely gave formal effect to the Obama administration’s proposals to grant the banks long-term waivers, as the Wall Street Journal reported.

But experts at Wharton and elsewhere pointed out at least two disconcerting aspects about the waivers granted by the Department of Labor. One was the timing of the move, raising suspicions that the government may have sought to sneak it through during the holiday rush. The second was the waiver granted to Deutsche Bank, which happens to have close banking relationships with President Trump. Trump owed Deutsche Bank about $130 million, according to a report last June from the U.S. Office of Government Ethics.

In a separate case, Deutsche Bank is also being questioned as part of the federal investigation into the suspected Russian meddling in the 2016 U.S. presidential election. The other banks that received waivers of restrictions on managing pension funds and individual retirement accounts are JP Morgan Chase, Citigroup, UBS and Barclays, but no red flags rose in those cases.

Too Close for Comfort?

The Deutsche Bank waiver “is drawing attention because of the opacity of the President’s financial holdings and financial dealings, generally,” said Peter Conti-Brown, Wharton professor of legal studies and business ethics. However, there is no evidence of a quid pro quo between Trump’s finances and Deutsche Bank, he added.

In fact, waivers such as those granted to the five banks were “pretty standard” until a few years ago, Conti-Brown noted. Large, global financial conglomerates do business with “tens of thousands of entities,” and criminal activity in one of those may have nothing to do with their dealings elsewhere, he explained. He pointed out that the Department of Labor in the Obama administration had begun to “exact more scrutiny and issued more conditions on the waivers, and made them shorter.”

More about Trump's corruption at the link

knowledge.wharton.upenn.edu/article/will-convicted-banks-get-reprieve/

bush_is_a_moonie  posted on  2018-02-14   17:36:41 ET  Reply   Trace   Private Reply  

However, there is no evidence of a quid pro quo between Trump’s finances and Deutsche Bank, he added.

“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken

Lod  posted on  2018-02-14   17:47:29 ET  Reply   Trace   Private Reply  

Unfortunately, the banks had already stolen most of the money.

The beauty of the second amendment is that it will not be needed until they try to take it away-Thomas Jefferson

Give Me Liberty  posted on  2018-02-15   2:06:01 ET  Reply   Trace   Private Reply  

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