German financial giant Deutsche Bank is planning to cut all ties to Donald Trump and the Trump Organization immediately after the the election, according to a report from Reuters:
“Deutsche Bank AG is looking for ways to end its relationship with President Donald Trump after the U.S. elections, as it tires of the negative publicity stemming from the ties, according to three senior bank officials with direct knowledge of the matter.”
Trump owes Deutsche Bank about $340 million in loans that are guaranteed by three Trump properties and a personal promise of repayment from the president. And that could wind up being a gigantic problem for Trump if he cannot make enormous payments on the loans which are due over the course of the next two years, because the bank is prepared to seize the buildings or the president’s assets if payment is not made promptly:
“If Trump is not in office, Deutsche Bank executives feel that it would be easier for them to demand repayment, foreclose if he is not able to pay it off or refinance, or try to sell the loans, according to two of the three bank officials.
“Since Trump has personally guaranteed all the loans, Deutsche Bank could also seize the president’s assets if he is unable to repay, two of the three bank officials said.”
Trump is now a failed one-term president, under criminal investigation in New York, and could soon be flat broke as his creditors begin demanding payment and taking the only thing of value he has left: His properties.
Keep in mind that Trump’s properties and business holdings are already experiencing a major downturn thanks in large part to the coronavirus which the president has failed to control. And the Trump Organization’s attempts to expand into new areas of business have also hit a wall:
“Last month Reuters reported that Trump’s plan to make money by developing houses and hotels on his golf courses, including the one involving the Deutsche Bank loan, had not panned out so far.”
One thing is certain: Donald Trump is confronted with big problems that could wind up leaving him on the brink of financial collapse and facing imprisonment for the remainder of his life.