President Donald Trump’s reputation for asset inflation made him a running joke at his biggest lender, Deutsche Bank, New York Times finance editor David Enrich told MSNBC on Tuesday.
“Even before Deutsche Bank entered the picture, Donald Trump had developed a well-earned reputation for defaulting on loans and saddling his banks with hundreds of millions of dollars in losses,” Enrich said. “Deutsche Bank started the relationship knowing full well that that was his M.O., and then sure enough, he did it at least on two occasions to the bank in very acrimonious ways that led to litigation, and led to a huge public embarrassments and black eyes for Deutsche Bank.”
Enrich said Trump’s problematic history with Deutsche Bank could land him in legal trouble, including charges of fraud.
“There’s a lot of evidence, having spoken to dozens of people inside the bank who are involved with these loans, that Trump was a serial exaggerator when it came to how much he was worth,” Enrich said. “Not just his personal wealth, but the assets his company has.
Trump, Enrich said, would so regularly “assign ridiculous values” to his real estate properties, that it became a running joke at the bank.
“He was valuing them at such astronomical levels that it became a joke inside the bank that ‘this is another example of Donald just assigning these crazy out of touch levels to his values,'” he said. “They were okay with that because they, the bank, felt comfortable, they could go in and say, ‘we’re just going to chop 70% off the value of that asset’ and that they could reach a conservative enough valuation that it still made sense to lend to him.”
Watch the video below.
Trump’s ‘no collusion’ lie is finally falling apart — but will Americans actually notice?
Although the Mueller Report has been in the public domain for nearly two months, there’s still a ton of confusion and disinformation around it. The confusion is specifically due to two things: Very few voters have actually read it, and Donald Trump is delighted to exploit that fact. It doesn’t help that Robert Mueller has been more than a little cryptic about his findings — refusing to answer questions or to appear for congressional testimony to clear the air.
Consequently, the president and his Red Hat loyalists continue to repeat the “NO COLLUSION!' lie with very little push-back. The all-caps falsehood gains momentum every time Trump repeats it. Likewise, Bill Barr’s March 24 letter and his subsequent public remarks erroneously confirmed Trump’s lie before anyone, including Congress, was allowed to actually read the report.
Trump calls himself a rock star as he tries to drum up interest in his Orlando rally: ‘Going to be wild!’
President Donald Trump compared himself to a rock star ahead of his campaign kickoff rally in Orlando, where hundreds of supporters camped out a day ahead of the Florida event.
Supporters waited in line more than 40 hours before Tuesday night's rally at the Amway Center, and the president claimed that showed he was as popular as musicians who pack arenas for rock concerts.
"The Fake News doesn’t report it," Trump tweeted, "but Republican enthusiasm is at an all time high. Look what is going on in Orlando, Florida, right now! People have never seen anything like it (unless you play a guitar). Going to be wild - See you later!"
MSNBC’s Morning Joe and Mika hilariously taunt Trump over lousy ratings for his ABC interview: He didn’t even beat ‘Family Feud’
President Donald Trump sees his poll numbers as the same thing as television ratings, according to panelists on MSNBC's "Morning Joe."
Host Joe Scarborough and others shared anecdotes showing the president's obsession with poll numbers and TV ratings, and his compulsion to push back when those popularity metrics are challenged.
"You have to to think back to that period you just described, 2015-2016, when reporters would go up to the 26th floor of Trump Tower," said Washington Post reporter Robert Costa. "President Trump would have all these framed ratings from 'The Apprentice' in picture frames on the wall. He would use the phrase ratings, and he would interchange it with the discussion of polling. He would say, 'My ratings are doing really well.'"