A once-chummy relationship turns sour
President Donald Trump, who at times likes to claim Swedish ancestry, is true to his German origins. Like most German family companies, his business has a, a go-to bank with whom he has a long-standing relationship. But unlike those companies, he did not choose hisbecause of geographical proximity or family tradition. He did business with Deutsche Bank because no other big bank would lend him millions after several of his businesses went bankrupt in the 1990s.
The once-cordial relationship between Mr Trump and Deutsche has soured. When he became a serious contender for the presidency in 2016 Deutsche stopped lending him money . Deutsche has started to hand over financial documents related to Mr Trump’s business dealings to Letitia James, New York’s attorney-general, who is investigating the president.
Deutsche Bank says the president’s lawsuit reflects a dispute between Mr Trump and congressional committees and that the bank is not accused of any wrongdoing. “We remain committed to providing appropriate information to all authorised investigations,” says the bank. Adam Schiff, chair of the House Intelligence Committee, praised Deutsche for its assiduous co-operation with congressional investigators. The ailing lender is trying to salvage its reputation.
The president’s suit seems unlikely to succeed. Courts tend to stay away from questioning lawmakers’ motives for investigations. And the executive-privilege defence that may fend off other subpoenas does not apply to things the president did in his private life before he was elected. This suggests that the two committees should get some fresh reading material before too long."Sue you"
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