TRUMP PAID BACK DEUTSCHE BANK WITH A MASSIVE LIFELINE—FROM DEUTSCHE BANK. IT SOUNDED LIKE A PARENT SCOLDING A tantrum-prone toddler with a penchant for tossing toys from his stroller.
In November 2008, Steven Molo, an attorney for Deutsche Bank, wrote a letter to the Supreme Court of New York about one of the company’s most troublesome clients. At issue was $640 million that client had borrowed in 2005 to fund construction of a new hotel in Chicago. The client had personally guaranteed the loan, but a few years later, the Great Recession devastated the economy, and he defaulted on his payment, with $330 million outstanding. Deutsche was seeking an immediate $40 million from the client, plus interest, legal fees and costs.
The debtor in question: Donald Trump, the future president…
