Yes @matt , great putting together those layers regarding the amounts of money exchanged and how much T owed, and how Justice Kennedy would likely be beholden to this relationship… This news was circulating a bunch late yesterday, and people were pointing to this Financial Times article - dated 8.30.17.
> The Big Read Donald Trump
> Donald Trump’s debt to Deutsche Bank
Looks like FT.com is highly protective of their articles, without incurring their wrath (read: cookies and they don’t want you to directly copy from their articles - up to 10 reads), I came across these paragraphs.
When Mr Trump was looking for capital in the mid-1990s, he found a good match in Deutsche. The German bank, dominant in its domestic market, was desperate to grow in the US. In particular, the bank saw a niche in serving rich developers who had hit a few bumps along the way, such as Harry Macklowe and Ian Bruce Eichner, both celebrated owners and losers of New York real estate.
A client like Mr Trump would be offered a choice of terms, according to a person familiar with the deals: an interest rate of, say, Libor plus 500 basis points with a guarantee, or Libor plus 800 without.
Deutsche’s key recruit was Jon Vaccaro from Citibank, who arrived as global head of commercial real estate in 1997. Other important figures for Mr Trump, over the years, were Mike Offit and Steve Stuart, a duo who joined from Goldman Sachs, and Eric Schwartz, a recruit from Moody’s who became the developer’s primary point of contact.
Some of the appointments gave Deutsche more clout in boardrooms and on the party circuit. Tobin “Toby” Cobb, formerly of Donaldson, Lufkin & Jenrette, is the son of two US ambassadors. Justin Kennedy, a trader who arrived from Goldman to become one of Mr Trump’s most trusted associates over a 12-year spell at Deutsche, is the son of a Supreme Court justice. Mr Cobb, Mr Kennedy, Mr Stuart and Mr Offit could not be reached for comment. Through a spokesperson, Mr Schwartz and Mr Vaccaro declined to comment.
Deutsche’s big real estate push came against the backdrop of rapid growth in the commercial mortgage-backed securities (CMBS) market, which allowed the bank to lay off much of the default risk to outside investors.
The market had got going in the early 1990s, as banks blanched at lending without personal guarantees. But developers did not generally want to give them. The solution was often a non-recourse loan that the banks could package into CMBS for a fee. Deutsche became a keen underwriter.
And to add more layers…to which I can NOT verify, I just lifted it from someone’s FB feed, it also mentions both of Supreme Court Justice Kennedy’s son’s - Justin AND Gregory. My feeling about Kennedy’s departure may have to do perhaps with him wanting to leave prior to some “material” hitting the fan while he was Justice that would be embarrassing.
A FB feed that looks like it was derived from the FT article, and drew other bits of information about Gregory Kennedy as well from another source.
Re the timing of Justice Kennedy’s exit.
“Deutsche Bank, the only bank that would lend to Trump after his multiple bankruptcies, the bank that paid $630 million in fines for organizing $10 billion in sham trades that could have been used to launder money out of Russia, the bank that was fined $41 million by the US Federal Reserve on Tuesday over failures to screen billions of dollars in potentially suspicions transactions …
That bank took on key recruits to handle’s Trump transactions, including two from Goldman Sachs. “Justin Kennedy, a trader who arrived from Goldman to become one of Mr. Trump’s most trusted associates over a 12-year spell at Deutsche, is the son of a Supreme Court justice.” Justin ran Commercial Mortgage-Backed Securities for Deutsche Bank.
Deutsche Bank is currently under investigation for possible ties to Russian money laundering in the Trump campaign.
But it’s not just the Deutsche bank connection. Justin Kennedy is also tied to Trump through his company LNR real estate, which oversees the mortgage on Kushner’s very-troubled 666 5th Ave. Essentially, through its holdings, Kennedy’s company bailed out 666, which Kushner bought for 1.9 billion at the height of the market in 2007. So it would not be an exaggeration to say that Justin Kennedy’s financial fate is directly tied into the financial fortunes of Kushner and Trump.
But it’s not just Justin & Deutsche and LNR/Vornado/666 … that tie the Kennedys to Trump …
Justice Kennedy’s other son, Gregory, benefited directly by an appointment at NASA as a Senior Financial Adviser after Trump was inaugurated. ProPublica reports that he’s part of a so-called “beachhead team” that Trump installed at the space agency to keep an eye on how things are running. No information on whether or not Gregory Kennedy will have any involvement in the development of Trump’s announced “Space Force”.
Gregory Kennedy also went to Stanford Law School with Peter Thiel, the only Silicon Valley mogul who backed Trump’s campaign and serves as an advisor to Trump on technology issues. Thiel is a close friend to Robert Mercer, co-founder, with Steve Bannon, of Cambridge Analytica. An employee of his company, Palantir, aided Cambridge Analytica in its scheme to skew the elections by stealing data from Facebook to target 50 million FB users with opinion, disinformation and lies via memes and posts. Kennedy and Thiel served as back-to-back presidents of the Federalist Society, and Kennedy’s firm, Disruptive Technology Advisers, has worked with Thiel’s company Palantir Technologies.
The new SCOTUS, with now two Trump appointees will weigh in not just on various civil rights issues of enormous consequence, they will also weigh in very shortly on a question critical the Mueller investigation – a question of double jeopoardy. When crimes fall under both state and federal jurisdictions, they may undergo separate trials, even with separate outcomes, much as this can happen with civil and criminal cases. The POTUS can pardon those charged in federal crimes, but not state crimes. So if the newly-skewed SCOTUS rules that this constitutes double jeopardy, one of the most potent quivers in Mueller’s arsenal will be broken in half.
The new SCOTUS may also in due time be asked to rule on whether or not a sitting president can be indicted on criminal charges.
If this is all beginning to feel a little like a “fix” to you … well, you’re not alone.”
National Aeronautics and Space Administration Gregory Kennedy Senior Financial Advisor SES 1/20/2017