'WRONG!': Trump fumes after NYT reports on his banking history

Dylan Stableford
Senior Editor

President Trump on Monday lashed out at the New York Times after the paper reported that anti-money-laundering specialists at Deutsche Bank flagged multiple transactions involving him and his son-in-law, Jared Kushner, in 2016 and 2017, and recommended they be reported to a federal financial-crimes watchdog.

Deutsche Bank executives rejected their employees’ advice, the Times said, and the suspicious transactions were never reported.

Trump, though, did not respond to that part of the report. The president, instead, fixated on the newspaper’s assertion that unlike Deutsch Bank, “most Wall Street banks had stopped doing business with him.”

President Trump speaks at the National Association of Realtors conference in Washington, D.C., Friday. (Photo: Alex Brandon/AP)

“The Failing New York Times (it will pass away when I leave office in 6 years), and others of the Fake News Media, keep writing phony stories about how I didn’t use many banks because they didn’t want to do business with me,” Trump tweeted. “WRONG! It is because I didn’t need money. Very old fashioned, but true. When you don’t need or want money, you don’t need or want banks. Banks have always been available to me, they want to make money.”

The president accused the Times, without evidence, of using made-up sources in an effort to “disparage” him. He then repeated a familiar attack line (“FAKE NEWS is actually the biggest story of all and is the true ENEMY OF THE PEOPLE!”) before returning to his Twitter tirade about the report.

“Now the new big story is that Trump made a lot of money and buys everything for cash, he doesn’t need banks,” the president continued. “But where did he get all of that cash? Could it be Russia? No, I built a great business and don’t need banks, but if I did they would be there.”

People walk by the New York headquarters for Deutsche Bank in New York City on April 30, 2019. (Photo: Spencer Platt/Getty Images)

“DeutscheBank was very good and highly professional to deal with - and if for any reason I didn’t like them, I would have gone elsewhere,” Trump added. “There was always plenty of money around and banks to choose from. They would be very happy to take my money. Fake News!”

The president was tweeting so furiously, it seems, he missed a pair of missives.

“Two Tweets missing from last batch, probably a Twitter error,” Trump tweeted. “No time for a redo! Only the Dems get redos!”

That tweet was quickly deleted. It was unclear what the issue was.

Trump’s reaction to scrutiny of his relationship with Deutsche Bank comes amid efforts by Congress to get ahold of his tax and bank records.

Last month, the House Intelligence and Financial Services committees subpoenaed the German bank for documents related to any suspicious activities detected in Trump’s personal and business bank accounts since 2010.

Trump and his family then sued Deutsche Bank in an attempt to block it from sharing the documents. Although Trump once promised to publicly release his tax returns, he has refused to do so, claiming he is under audit.

Earlier this month, the Times obtained Trump’s tax returns from 1985 to 1994 showing his businesses lost more than $1 billion during that timespan.

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