Trump Denies Report That Deutsche Bank Ignored Suspicious Transactions: “I Don’t Need Banks”

The president has amassed more personal debt than any other in US history.

Olivier Douliery/ZUMA

Fight disinformation. Get a daily recap of the facts that matter. Sign up for the free Mother Jones newsletter.

The morning after the New York Times reported that Deutsche Bank repeatedly dismissed concerns of suspicious activity, including potential money-laundering attempts by President Donald Trump and his son-in-law Jared Kushner in 2016 and 2017, Trump did his best to reject the latest investigation into his longstanding, fraught ties with the German bank.

“The Failing New York Times (it will pass away when I leave office in 6 years), and others of the Fake News Media, keep writing phony stories about how I didn’t use many banks because they didn’t want to do business with me. Wrong!” Trump began on Twitter.

He went on to falsely claim that he had never sought loans from other banks, despite his personal financial disclosures showing he has done exactly that, while continuing to amass more debt than any other president in US history. Trump then appeared to confirm one aspect of the Times‘ reporting, that he and Kushner often engaged in all-cash deals, some of which involved foreign entities. Trump asserted that this was evidence that he “doesn’t need banks.”

“No, I built a great business and don’t need banks, but if I did they would be there,” he tweeted.

In the scramble to defend the relationship with Deutsche Bank, Trump on Monday evidently left out some information, an error he blamed on Twitter. “Two Tweets missing from last batch, probably a Twitter error,” the president remarked. “No time for a redo! Only the Dems get redos!”

That apparent joke has since been deleted.

Last month, Trump and his family sued Deutsche Bank and Capital One in an effort to block Democrats from investigating their personal finances.

HERE ARE THE FACTS:

Our fall fundraising drive is off to a rough start, and we very much need to raise $250,000 in the next couple of weeks. If you value the journalism you get from Mother Jones, please help us do it with a donation today.

As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

payment methods

ONE MORE QUICK THING:

Our fall fundraising drive is off to a rough start, and we very much need to raise $250,000 in the next couple of weeks. If you value the journalism you get from Mother Jones, please help us do it with a donation today.

As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate