Trump needs 'a lot of cash quickly' before his assets are seized: NYT business analyst
Appearing on MSNBC, New York Times financial investigative reporter Dean Enrich claimed Donald Trump is under the gun to come up with money quickly with some massive loans coming due soon and banks starting to look at seizing his assets.
Enrich, who wrote "Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction," said the ex-president is facing a slew of banks that won't have anything to do with him and that previous lenders have already announced they are cutting him off from new credit.
Speaking with host Alex Witt, the business analyst explained, "There are both civil and criminal and congressional investigations that are still seeking after years of trying to get trump's financial records from Deutsche Bank and, you know, it's anyone's guess what that is going to show. We know at Deutsche Bank, though, there were employees who raised money laundering concerns in both the Trump and [Jared] Kushner accounts. We still don't have the full story about what happened there."
"I trust you will get to the bottom of that," Witt replied. "Let me ask you, though, is this just the beginning? How many more banks or financial institutions have relationships with Donald Trump and what's the impact on his finances of this?"
'I think it's a very serious financial impact for him," Enrich quickly replied. "He has hundreds of millions of dollars of debt coming due in the next few years, most of it to Deutsche Bank, but not all of it. And normally, a borrower would go to the lender and say, 'can we refinance the loan, extend it a few years?' That's not going to be an option for Trump with most of these loans."
"He's going to need to come up with a lot of cash quickly or he's going to be at risk of defaulting," he added. "In the case of Deutsche Bank, if he defaults, the bank has recourse to his personal assets. They could go to court to seize his property or the money he has in various banking accounts. So he's going to need to come up with cash very quickly and his businesses right now are struggling, so it's very unclear to me where he might be able to get that money."
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