The DWT art director is very intuitive. The date stamp on the Deutsche Bank Washing Machine money laundering gif is August 1, 2017, 7 months ago. We've been using it ever since. On Wednesday it would have thrilled us if the Martens would have used it to illustrate their incredible reporting on how the Deutsche Bank money laundering was what caused Nunes to pull the plug on the House Intel Committee Investigation. [The Intel Committee vote was secret and no one knows who voted how. Several Intel Committee Republicans-- including Trey Gowdy, Will Hurd and Tom Rooney-- have said they disagree with shutting it down, but they must've voted with Nunes because there are 13 Republicans and 9 Dems on the committee so the GOP could only afford to lose 2. So... what the fuck?] Oops, I wandered off track. Back to the Martens and Wall Street On Parade. So why did Trump order Nunes to shut the circus down? The Dems on the committee were "getting too close to Trump’s dealings with Deutsche Bank and Deutsche Bank’s dealings with Russia."
The draft report released by the Democrats after belatedly learning that their Republican colleagues had abruptly ended the probe, included this paragraph:“Donald Trump’s finances historically have been opaque, but there have long been credible allegations as to the use of Trump properties to launder money by Russian oligarchs, criminals, and regime cronies. There also remain critical unanswered questions about the source of President Trump’s personal and corporate financing. For example, Deutsche Bank, which was fined $630 million in 2017 over its involvement in a $10 billion Russian money-laundering scheme, consistently has been the source of financing for President Trump, his businesses, and his family. We have only begun to explore the relationship between President Trump and Deutsche Bank, and between the bank and Russia.”Deutsche Bank’s “$10 billion Russian money-laundering scheme” which became known by the shorthand term “mirror trades,” was the subject of a May 23, 2017 letter sent by Maxine Waters, the ranking member of the House Financial Services Committee and other House Democrats to John Cryan, CEO of Deutsche Bank. The letter began:
“We write seeking information relating to two internal reviews reportedly conducted by Deutsche Bank (“Bank”): one regarding its 2011 Russian mirror trading scandal and the other regarding its review of the personal accounts of President Donald Trump and his family members held at the Bank. What is troubling is that the Bank to our knowledge has thus far refused to disclose or publicly comment on the results of either of its internal reviews. As a result, there is no transparency regarding who participated in, or benefited from, the Russian mirror trading scheme that allowed $10 billion to flow out of Russia. Likewise, Congress remains in the dark on whether loans Deutsche Bank made to President Trump were guaranteed by the Russian Government, or were in any way connected to Russia. It is critical that you provide this Committee with the information necessary to assess the scope, findings and conclusions of your internal reviews.“Deutsche Bank’s failure to put adequate anti-money laundering controls in place to prevent a group of traders from improperly and secretly transferring more than $10 billion out of Russia is concerning. According to press reports, this scheme was carried out by traders in Russia who converted rubles into dollars through security trades that lacked any legitimate economic rationale. The settlement agreements reached between the Bank and the New York Department of Financial Services as well as the U.K. Financial Conduct Authority raise questions about the particular Russian individuals involved in the scheme, where their money went, and who may have benefited from the vast sums transferred out of Russia. Moreover, around the same time, Deutsche Bank was involved in an elaborate scheme known as ‘The Russian Laundromat,’ ‘The Global Laundromat,’ or ‘The Moldovan Scheme,’ in which $20 billion in funds of criminal origin from Russia were processed through dozens of financial institutions.”Waters has now come into Trump’s crosshairs. In a speech in Pennsylvania on Saturday evening, he referred to her as “a low IQ individual.” (The problem for Trump seems to be something very different: Waters’ ability to connect the dots and see a theory of the case that involves money laundering and quid pro quo.)Also in May of last year, Reuters reported that “FBI investigators are examining whether Russians suggested to Kushner or other Trump aides that relaxing economic sanctions would allow Russian banks to offer financing to people with ties to Trump, said the current U.S. law enforcement official.”Waters’ letter to the CEO of a major global bank which has complex major dealings all over Wall Street might take one’s breath away unless you have been closely following the serial crime spree that Deutsche Bank has been conducting in other corners of the financial markets in the U.S. and abroad.In January of last year the U.S. Justice Department announced a $7.2 billion settlement with Deutsche over its improper issuance of mortgaged backed securities and dubious lending practices. The Statement of Facts released by the Justice Department at the time of the settlement included the text of what those inside the bank knew about the fraud as it was occurring. DOJ officials wrote:
“Deutsche Bank also knowingly misrepresented that loans had been reviewed to ensure the ability of borrowers to repay their loans. As Deutsche Bank acknowledges, the bank’s own employees recognized that Deutsche Bank would ‘tolerate misrepresentation’ with ‘misdirected lending practices’ as to borrower ability to pay, accepting even blocked-out borrower pay stubs that concealed borrowers’ actual incomes. As a Deutsche Bank employee stated, ‘What goes around will eventually come around; when performance (default) begins affecting profits and/or the investors who purchase the securities, only then will Wall St. take notice. For now, the buying continues.’ ”Deutsche Bank was criminally charged by the U.S. Justice Department in April 2015 and allowed to enter into a deferred prosecution agreement. The charges were related to its role in manipulating U.S. Dollar LIBOR and engaging in a price-fixing conspiracy to rig Yen LIBOR. (LIBOR is an interest rate benchmark used to set consumer loan rates.) At the same time, a bank subsidiary pleaded guilty to wire fraud for manipulating LIBOR. The settlement cost Deutsche Bank $775 million in criminal penalties.In November 2015, Deutsche Bank was fined $258 million by the New York Department of Financial Services and the Federal Reserve for using “non-transparent methods and practices” from 1999 to 2006 to move money in and out of countries on the U.S. sanctions list. Emails showed that employees had discussed tricks for conducting financial transactions with Iran, Libya, Syria, Burma and Sudan.In 2013, FHFA, the conservator of Freddie Mac and Fannie Mae, announced a $1.925 billion settlement with Deutsche Bank to resolve claims that the bank had misled the mortgage giants in the sale of mortgage-related investments. Deutsche Bank did not admit wrongdoing in that settlement.In 2010, Deutsche Bank agreed to pay $553.6 million to the U.S. and admitted criminal wrongdoing in a fraudulent tax shelter scheme that facilitated billions of dollars in U.S. tax losses.The draft report from the Democrats on the House Intelligence Committee also contains this bombshell:
“Moreover, as the Committee has learned, candidate Trump’s private business was actively negotiating a business deal in Moscow with a sanctioned Russian bank during the election period.”
Looks to me if you're looking for the low IQ people in this it would be Trump and Kushner-in-law, not Maxine Waters. My neighbor, Cynthia, asks me almost every day why we can't get rid of him already.She's mortified that he's in the White House. And she's not some hippie-- or, if she was, it was 50 years ago. But Cynthia-- and anyone else who's wondering why we can't get rid of him already-- there was an OpEd in the Washington Post yesterday by former Hillary spokesman Philippe Reines that you should read. "Trump," he wrote,"is the least-qualified person to ever hold the office and is cementing his ranking as the worst president in American history... Trump is a freak of political nature. He’s a political Weeble Wobble that never falls down. He makes Ronald Reagan’s Teflon look like Saran Wrap. He says whatever he wants, whenever he wants, wherever he wants. He could stand in the middle of Fifth Avenue and shoot a porn flick." We all agree, right? Reines has some advice for whoever takes Trump on in 2020:
● Go high when you can. But when he goes low, take advantage of the kneeling to knock his block off.● Don’t apologize. Ever. Not over money you took from Harvey Weinstein. Not even for attacking the pope. In fact, proactively attack the pope. Your kid is a shoplifter? You’re proud of them for exposing inadequate security.● A lot of industries are going to want to hedge their bets. Don’t declare you won’t take money from lobbyists. Take cigarette money. Counterfeit your own.● Swing at every pitch. Trump never says, “I’m not dignifying that with an answer.” He has no dignity. He leaves no attack unanswered. I spent 15 years recommending ignoring stupidity. “It has no legs. Don’t give it oxygen. There’s no pickup.” I was wrong.● Do it yourself. Every time. On camera. Online. Surrogates are no match.● Don’t cede Fox News.● Boast. Gloat. About your accomplishments. Your biceps. Your everything. You didn’t co-sponsor; you got it done on your inevitable path to Mount Rushmore.● Don’t wait for post-debate polls. You won. It’s obvious. Everyone saw. Say it onstage.● Work the refs. The media are going to mess with you. Don’t rely on them. Call them out. You’re running for president of the United States, not the National Press Club.● Don’t think you can spend as little as he did. The impact of political ads is waning-- but don’t be the first to experiment with ceding the airwaves. The Republican National Committee and his PACs won’t.● Say what you need to say in the primaries. Then say what you need to say in the general. You’ll make it right.● Bulldoze third-party candidates. Even if you can peel only 10 percent off, peel them off.● Resign your office. No distractions or ethical lapses. Run against your office.● Don’t hire anyone who says they’d rather lose than stoop to his level. If you say it, get out of the way for someone living in the real world.● Deride Clinton at your peril. Nearly 17 million people voted for her in the primaries-- 4 million more than the runner-up. And almost 66 million voted for her on Election Day-- nearly 3 million more than Trump. Focus on what she is, not isn’t: smart; savvy; tough; still beloved by tens of millions who don’t want to hear you trash her. Her endorsement is invaluable. If you think her loss was a missed layup, you’ll learn the hard way it was a three-pointer.Lastly, if you don’t find any of this sobering, this should:This time, he knows he can win.
Yeah... but, so do the American people. This time I expect we'll have the greatest turnout in American history to root Putin's kleptocratic stooge out of office.
