Dysfunctions
Trump waives criminal sanctions against major banks, including one to which he owes millions
By Undernews, January 10, 2018
Jan 14, 2018 - 9:57:10 AM

The Trump Administration just published a small notice in the Federal Register announcing that it would waive the outstanding criminal sanctions against some of the world's largest banks, Citigroup, JPMorgan, Barclays, UBS and Deutsche Bank.

The banks were facing sanctions stemming from a variety of wrongdoing, including the trillions' worth of fraud in the LIBOR scandal, and Deutsche Bank's role in laundering $10B for Russian oligarchs.

Donald Trump owes Deutsche Bank at least $120,000,000 (and as much as $300,000,000) which the bank loaned him after he defaulted on a $640,000,000 loan they extended to him, and then sued the bank for $3,000,000,000 for its role in the 2008 crisis, on which he blamed his default.

All told, Deutsche Bank and its co-lenders have given the Trump Organization over $2.5B in loans.

The Obama administration -- whose official policy was to never jail bankers regardless of their wrongdoing and the harm it caused -- had already given waivers to all the affected banks. The Trump administration has extended those waivers for years more.