Good morning from Milkshake, who is blissfully unaware that today is Election Day. Image
Good afternoon from Milkshake, who is taking a power nap with her favorite monkey. Image
Milkshake and I have different ways of dealing with stress. ImageImage
Milkshake is agnostic about the results so far. Image
Good morning from Milkshake, who remains oblivious about the election but did just spot a squirrel in our yard.

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More from @davidenrich

30 Oct
Three days after our story on @realDonaldTrump, @DeutscheBank and Chicago runs, I get a FOIA response with 2,000+ pages of documents. A fun Friday afternoon and evening awaits....
No surprise here, but interesting to see up-close how for every condo unit that @realDonaldTrump sold, money went straight to @DeutscheBank to repay Trump's defaulted loan.

Here's one example of an all-cash purchase in April 2012.
So many anonymous shell companies buying units. Here's just one.
Read 7 tweets
28 Oct
I have a few stray thoughts on @DeutscheBank and @realDonaldTrump in the wake of yesterday's story about the Chicago debacle.

Warning: This thread raises many more questions than it answers. There is still *so much* we don't know about Trump's finances. nytimes.com/2020/10/27/bus…
1. Why did DB release collateral on a Trump loan the day after the 2016 election?

It might be coincidence.

But recall that DB swung into cleanup mode post-election. It sold a big Russian loan. It banned staff from publicly saying “Trump.” It considered modifying Trump’s loans.
What makes this even weirder: DB on 11/9/16 released more collateral than it had to. Trump had repaid $24M; DB released $56M.

I’m told this was a *clerical error* that DB corrected. But it adds to the impression that this was part of the bank's effort to get distance from Trump.
Read 8 tweets
27 Oct
NEW: @realDonaldTrump's tax records show that big banks and hedge funds gave him hundreds of millions of dollars of financial breaks.

Trump managed to avoid paying taxes on almost all of it.

Latest in @nytimes tax series. by me, @russbuettner, etc. nytimes.com/2020/10/27/bus…
Trump's lenders forgave or canceled $287M in debt. The vast majority was related to Trump's Chicago skyscraper, which he built using borrowed money.

When Trump defaulted in 2008, creditors could have tried to seize the property. But they decided it wasn’t worth the fight.
Instead, hedge funds and private equity firms threw up their hands and forgave most of what Trump owed.

Two of those firms were run by men who later got roles in the Trump administration: @stevenmnuchin1 and Stephen Feinberg, who leads a White House advisory panel.
Read 10 tweets
23 Oct
Breaking: @jaredkushner’s close friend, and a former speechwriter for @realDonaldTrump, has been arrested by federal investigators. @nicole_hong @JesseDrucker nytimes.com/2020/10/23/nyr…
Ken Curson was Kushner’s handpicked successor to run the NY @observer. He was also in the running for a job in the Trump admin. He was arrested today on federal cyber-stalking charges.
We reported in 2018 on how Kurson had withdrawn from consideration for the federal job after the FBI began investigating Kurson for allegedly harassing a New York doctor as his marriage unraveled. nytimes.com/2018/07/26/bus…
Read 4 tweets
21 Oct
The board of directors of Leon Black's Apollo is launching an investigation of Black's ties to Epstein in wake of last week's @nytimes story. wsj.com/articles/apoll…
This article describes the Apollo investigation as coming at Black's request. He hopes "to put to rest renewed speculation into the nature of his ties to Mr. Epstein."

[One way to put speculation to rest would be to explain why he paid Epstein >$50M for tax/estate services.]
Spokeswoman for @apolloglobal confirms to @MattGoldstein26 that the board hired an outside law firm to investigate Black's ties to Epstein following our story last week. nytimes.com/2020/10/12/bus…
Read 4 tweets
20 Oct
It looks like @GoldmanSachs is going to avoid any criminal liability for its involvement in the huge 1MDB scandal in Malaysia. bloomberg.com/news/articles/…
Goldman's then-CEO, @lloydblankfein, was among the senior execs who were exposed in this scandal.

Yet the bank is getting off with a financial penalty that probably won't dent its quarterly profits (since it's already set aside money for a settlement). nytimes.com/2018/11/22/bus…
But wait – @wsj is reporting that Goldman will admit wrongdoing and an Asian subsidiary will plead guilty.

That is a more severe penalty than I said in my original tweet (but still not likely to have a very significant impact on the bank). wsj.com/articles/goldm…
Read 4 tweets

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