As No One Watched, Trump Pardoned 5 Megabanks For Corruption Charges

Authored by Richard Blevins via The Free Thought Project,

While Americans celebrated the holidays, President Trump followed in the footsteps of his predecessors by acting in the interest of Wall Street and using the distraction to do something that was not in the best interest of the American people. He pardoned five megabanks for rampant fraud and corruption, which is especially notable because of the amount of money he owes them.

https://www.zerohedge.com/sites/default/files/inline-images/20180115_trump.jpg

Trump has been using Deutsche Bank since the 1990s, and Financial Times has reported that he now owes the bank at least $130 million in outstanding loans secured in properties in Miami, Chicago, and Washington. However, the report claimed that the actual number is likely much larger at $300 million.

Reports claimed that Deutsche was the only bank willing to lend Trump money after his companies faced multiple bankruptcies. The relationship has continued over the years, and an analysis from the Wall Street Journal claimed that Trump has received at least $2.5 billion in loans from Deutsche Bank over the last 20 years.

There have been concerns about Trump’s ties to the bank becoming a conflict of interest, dating back to the 2016 election, and the evidence to support those concerns is now becoming clear.

During the week of Christmas, the Federal Register announced that the Trump Administration had issued waivers to Citigroup, JPMorgan, Barclays, UBS, and Deutsche Bank - all megabanks facing charges of fraud and corruption.

The banks were involved in the LIBOR Scandal, in which they colluded to deliberately depress the rate at which they paid out on investments. By suppressing the London Interbank Offered Rate (LIBOR) at the beginning of an economic crisis in 2007, the megabanks were able to boost their earnings and to give their customers a false sense of security.

Deutsche Bank pled guilty to wire fraud in a U.S. court in 2015, and it went on to pay $3.5 billion for its role in the LIBOR scandal—more than any other bank involved—before it reached a $7.2 billion settlement with the Justice Department in early 2017.

Then in June 2017, Deutsche Bank trader David Liew, who is based in Singapore, pleaded guilty to conspiring to spoof gold, silver, platinum and palladium futures in federal court in Chicago, confirming that the biggest banks in the world have conspired to rig precious metals markets.

While Trump granted 5-year exemptions to Citigroup, JPMorgan, and Barclays, and 3-year exemptions to UBS and Deutsche Bank, it should be noted that his administration is not the only one to have done this. As International Business Times noted, “In late 2016, the Obama administration extended temporary one-year waivers to five banks,” which just happened to be the same ones Trump has now extended the exemptions on—revealing the real rulers in DC.

Not surprisingly, the latest decision to pardon the banks comes in stark contrast to one of Trump’s most applauded campaign promises - that he would finally stand up against Wall Street and demand that the most powerful banks be held accountable to the public.

“I’m not going to let Wall Street get away with murder. Wall Street has caused tremendous problems for us. We’re going to tax Wall Street,” Trump said during a campaign rally in January 2016.

Comments

PT beemasters Tue, 01/16/2018 - 01:18 Permalink

Does this mean that now we will all stop pretending the system can be changed from within?

In order to continue the illusion of choice, the next Prez is going to have to appear even more anti-establishment that what Trump did.  PT predicts a future coup (maybe Trump, maybe the next Prez or the one after that) but even that coup will be just another illusion.

Don't vote.  Buy shares in the banks... to the point where you can vote out the CEOs.

In reply to by beemasters

FoggyWorld MANvsMACHINE Tue, 01/16/2018 - 01:15 Permalink

Nobody is reporting this except this left leaning Free Thought Project.

A month ago I wouldn't have questioned it but since that Dr. Brandy X. Lee of Yale report that Trump was crazy my digging into both the Yale Medical School and the University faculty directories shows no Dr. Brandy X. Lee - even as an adjunct.  No one followed up on that woman.

People are writing and saying things that just are not true and so when I can only find this story at a "Project" I tend now want more proof.

And if Trump did this or possibly someone else, it would seem only fair to ask WHY.

In reply to by MANvsMACHINE

911bodysnatchers322 stizazz Tue, 01/16/2018 - 06:02 Permalink

If someone did something nice for you 5 yrs ago when you weren't famous, and no one expected you to be famous, and then you become famous and help their family out---is that a quid pro quo?

 

The legal answer is no, it's not.  It's called 'thank you'.  It's called helping 'your people out'.  There is no 'exchange' (quid pro quo means exchange--and a provable contingency).   No one....not even Trump thought he would win many years ago.  He's had only lukewarm ambitions.

 

Finally, there is no proof these banks have pardoned his loans.  There isn't really such a thing as pardoning a loan--you mean give trump free money? 

 

He pardoned fraud and corruption charges, very likely in exchange for information related to WHO was doing the fraud and WITH WHOM they were complicit: the bushes and the clintons

 

Things aren't what they seem.  Be patient.  If you assume wrongdoing based on repetitions by the backbiting media, then you've lost your way and won't know how to process the next three months where your whole world turns upside down. The clintons just tried to nuke hawaii and Trump stopped that.

 

 

In reply to by stizazz

ExcapedPOI Ajax-1 Tue, 01/16/2018 - 00:10 Permalink

WFT!  Yes, you have it backwards, upside down, and inside out. In case you haven't noticed there is no real difference btwn DT and HRC.  Just who gets to star in the reality TV show.  WAKE UP.  This isn't really a show it's a deadly game of who gets to rule the slaves.  Give me some hope that you can understand this, and maybe there is hope for this stupid world.

In reply to by Ajax-1

911bodysnatchers322 Ajax-1 Tue, 01/16/2018 - 06:06 Permalink

He pardoned the corruption charges in exchange for them to give him information on the corruption charges, ex: transactions related to Clinton and Bush dynasties and their millieu.  Pardoning doesn't benefit Trump at all.  If pardoning led to forgivness of his loans, then he'd have committed a criminal quid pro quo.  Forgiving them of frauds in exchange for information needed to bring down a massive longstnading criminal conspiracy is something that no one is going to have a problem with, but right now everyone just needs to go through some kind of weird process of assuming the man is up to no good, because the media has been shattering their mind with himmler style nazi repetition mind control for a year and a half now

In reply to by Ajax-1

911bodysnatchers322 Ajax-1 Tue, 01/16/2018 - 06:06 Permalink

He pardoned the corruption charges in exchange for them to give him information on the corruption charges, ex: transactions related to Clinton and Bush dynasties and their millieu.  Pardoning doesn't benefit Trump at all.  If pardoning led to forgivness of his loans, then he'd have committed a criminal quid pro quo.  Forgiving them of frauds in exchange for information needed to bring down a massive longstnading criminal conspiracy is something that no one is going to have a problem with, but right now everyone just needs to go through some kind of weird process of assuming the man is up to no good, because the media has been shattering their mind with himmler style nazi repetition mind control for a year and a half now

In reply to by Ajax-1

Oliver Klozoff TeethVillage88s Mon, 01/15/2018 - 22:15 Permalink

Sounds like consumer protectionism ...

" The terms of this exemption have been specifically designed to promote conduct that adheres to basic fiduciary standards under ERISA and the Code. The exemption also aims to ensure that plans and IRAs can terminate relationships in an orderly and cost effective fashion in the event a plan or IRA fiduciary determines it is prudent for the plan or IRA to sever its relationship with an entity covered by the exemption. "

In reply to by TeethVillage88s

PT gespiri Tue, 01/16/2018 - 01:24 Permalink

It's all good because:
1.  No-one is dumb enough to say, "Damn!  If only we voted for Hillary!"
and
2.  No-one was in a position to be saying, "Damn!  If only we had voted for Trump!"

Killing the illusion is frustratingly slow but at least you made this tiny little step forwards.

In reply to by gespiri

TuPhat BaBaBouy Mon, 01/15/2018 - 22:56 Permalink

The article says 'pardons' and then switches to 'waivers' and then back to 'pardons'.  I'm not quite sure but I think those words have different meanings in english.  Even legalese has different definitions for those words.  What kind of crap article is this and are they twisting words to convey a falsehood?  Shame on you ZH.

In reply to by BaBaBouy