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Exclusive: NY regulators are investigating @DeutscheBank's relationship with Jeffrey Epstein and may impose penalties this month.

Regulators are examining why DB kept working with him after employees found suspicious transactions. with @MattGoldstein26 nytimes.com/2020/06/02/bus…
Regulators appear to not be super-happy that @DeutscheBank, true to form, decided to prioritize short-term profits over...everything else.
We asked @DeutscheBank spokesman Daniel Hunter about the bank's more-than-five-year relationship with Epstein, which ended shortly before his arrest last summer.

He said: “Our reputation is our most precious asset. We regret the decision to associate with Epstein.”
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More from @davidenrich see all

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David Enrich
@davidenrich
New: A federal bailout program for hospitals at risk of collapsing during the virus has showered *billions* of dollars on the country's wealthiest hospitals – those with well over $100 billion in cash reserves.

by @JesseDrucker @jbsgreenberg @sarahkliff nytimes.com/2020/05/25/bus…
Some of the rich hospitals are big publicly traded companies, like @HCAhealthcare @tenethealth. Others are nonprofits – @ClevelandClinic @Ascensionorg @ProvHosp – with so much cash that they engage in Wall St-style investing.

Those five alone got $2.4 billion in bailout money.
By contrast – and you will be *shocked* to hear this – hospitals with thin financial cushions and are actually at risk of collapsing because of the coronavirus got tiny amounts that executives say aren't sufficient to keep them afloat.
Read 6 tweets
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David Enrich
@davidenrich
I just read @jaredkushner's newly released 2017 testimony to the House Intel Committee. For the 1st time, he is on the record about his and @realDonaldTrump's relationship with @DeutscheBank.

Here, he talks about introducing Trump to Rosemary Vrablic.
intelligence.house.gov/uploadedfiles/…
At another point, Kushner echoed @realDonaldTrump's false statement that he had great relationships with many banks.

The truth is that he was locked out of the mainstream banking system because of his pattern of defaults. @DeutscheBank was the only big bank willing to touch him.
And here is Kushner's answer when @RepAdamSchiff asks if he is aware of any Russians guaranteeing Trump's loans from Deutsche Bank.
Read 3 tweets
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David Enrich
@davidenrich
OK, who is in the mood to hear a wacky story? One that has nothing – *absolutely nothing* – to do with current events?

I’ve been telling this story for more than a decade, and it makes me smile every time, and smiles have been in kind of short supply lately.

So here goes...
It's August 2008. The global financial crisis is getting underway. I'm a @WSJ banking reporter in NY. My colleague @damianpaletta and I got a tip about some shenanigans involving a bank that had recently collapsed in Arizona.

I was assigned to go there to see what I could find.
I arrived at @JFKairport in shorts, a T-shirt and flip flops. I had just splurged on a new pair of Reefs with great arch support and comfy straps. I was 29; this had been a kind of big purchase for me.

I breezed through JFK security. Didn't even have to remove my flip flops.
Read 24 tweets

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