Listen: President Trump, Deutsche Bank And Vice President discussed on Bloomberg Best
"I'm also, and I'm Ed Baxter. Congressional Democrats issued subpoenas to Deutsche Bank and other banks to obtain long-sought after documents indicating whether foreign nations tried to influence U S politics signal esscalation of their investigation into President Trump's finances and any business dealings with Russians Billy house. A Bloomberg news congressional reporters spoke about the latest efforts earlier with Peter Barnes and may while on one hand, both the financial services chairman, Maxine Waters, and the intelligence committee chair. Adam Schiff says that say that there has been cooperation, but not to the extent that subpoena is needed. The they say the Deutsche Bank actually asked for a subpoena so called friendly subpoena. So they can live on from there about what the next step and turning over documents would be so what does the committee specifically want to know from Dutch Bank? Democrats who are in the minority up until January have been dogged and trying to get these documents. And now that they're in the majority issue subpoenas are moving to do. So they stay with Muller re what they know about the Muller investigation, the relationship between President Trump and Deutsche Bank and other banks has only begun to be Lloyd. And the crotch says they wanna know if Donald Trump either candidate Trump or President Trump's has financial exposure be the credit loans point of leverage that Lascaux or maybe other countries have and still could be using over him. Is there any indication that the White House is going to object to the turning over of documents from Deutsche Bank, and perhaps institute some kind of legal proceedings. Yes net. Eric trump. The president son has called the he's also the vice president of the Trump organization that's called this a horrible precedent. And he indication they're going to fight back. And that may be the reason why don't you bang? For instance, wanted eight friendly subpoena. So they could go back and say, hey, we've been subpoenaed. And what do we do next? Not just simply turn over documents. Is there anything in what we know so far about the president's relationship with Deutsche Bank from his, you know, personal financial disclosure forms and other things as as the president does the government employees to suggest anything unusual or untorn toward between the two. Well, what we do know is that. For example. Has constantly and consistently been the source of financing. President Trump has been business family while other lending institutions sometimes have said no over the years. We also know that he's he's had. He hasn't been able to acquire loans there. Even for items, and perhaps that he hasn't been fully forthcoming to voters and to to on on financial documents. Let's keep in mind, the backdrop of this also as it House Democrats are exploring his finances. We subpoenas to accounting firm as ours USA and also to get his tax returns. So argue that no president. No sitting president has had his finances. So assailed by congressional subpoenas as as President Trump at this point. Now Deutsche Bank has been investigated for lacks money laundering controls market, rigging selling toxic securities, and it's run up an eighteen point three billion dollar in fines and legal costs. That's more than any other European Bank. So is there any particular pressure on Deutsche Bank at this point to cooperate probably is some leverage to get on a lake good their involvement in ten billion dollar Russian mon-, money laundering scheme. In which they will find six hundred thirty million in twenty seventeen does not given them a position of strength when it comes to regulators, and maybe even members of the US congress seek that try to get some help out. And and find out some details about the Trump family ties to the Bank of Bank that continued to lend to him again, while others did not. That's Bloomberg news congressional reporter Billy house and coming up. We'll look."