Trump Administration Waives Punishments For Major Banks, Including One Trump Owes At Least $130 Million

The International Business Times reports:

The Trump administration has waived part of the punishment for five megabanks whose affiliates were convicted and fined for manipulating global interest rates. One of the Trump administration waivers was granted to Deutsche Bank — which is owed at least $130 million by President Donald Trump and his business empire, and has also been fined for its role in a Russian money laundering scheme.

The waivers were issued in a little-noticed announcement published in the Federal Register during the Christmas holiday week. They come less than two years after then-candidate Trump promised “I’m not going to let Wall Street get away with murder.”

Under laws designed to protect retirement savings, financial firms whose affiliates have been convicted of violating securities statutes are effectively barred from the lucrative business of managing those savings. However, that punishment can be avoided if the firms manage to secure a special exemption from the U.S. Department of Labor, allowing them to keep their status as “qualified professional asset managers.”

  • Mark McGovern

    Don’t even know what to say anymore….

    • AmeriCanadian

      The Chinese “curse” is alive and well…we are living in interesting times. Frankly, I’d rather not.

      • Mark McGovern

        Fortunately partner and I are primarily based in Canada…

        • AmeriCanadian

          One of the lucky ones. But don’t you find U.S. politics tend to reach past the border?

          • Mark McGovern

            US politics spans the globe. We are just luckier than other countries and peoples to have resources to outlast him, hopefully.

          • JD

            they sure do

      • Reality.Bites

        The quotes should be around Chinese.

        BTW, there’s no Chinese Water Torture either. It probably isn’t even tortuous enough to make it as a BDSM game.

        Things like this, at their root, are based on the “other-ness” of a different group of people, in this case Asians in general and Chinese in particular. It’s not cultural appropriation it’s cultural invention to bolster stereotypes – in this case of Chinese people having ancient, mystical wisdom.

        However in exchange I offer the delightful Polish expression for something not being any of my legitimate business or concern:

        Not my circus, not my monkey.

        • AmeriCanadian

          You are absolutely correct. Its Chinese origin is a myth as it has no provable basis. Nevertheless, it is widely recognized, almost idiomatically.

        • JCF

          Hmmm. Per the Wiki article, this seems (to me) to be pretty close:

          The nearest related Chinese expression is “寧為太平犬,莫做亂離人” (nìng wéi tàipíng quǎn, mò zuò luàn lí rén), which is usually translated as “Better to be a dog in a peaceful time, than to be a human in a chaotic (warring) period.”

  • safari

    The rich are looking at retirement savings and are hungry.

    • M Jackson

      Gerrymandering and tax cuts are all they are about. The christian america thing is just a sham.

  • ChrisInKansas

    >> The waivers were issued in a little-noticed announcement published in the Federal Register during the Christmas holiday week.

    How many other dozens of things have they gotten away with?

    • safari

      There are people who monitor it, but it’s usually not as juicy as a tweet.

    • Ninja0980

      Lots I’m afraid.

  • Jay Silversmith

    …exempted. Just like he’s exempting Florida so his view from Maggot Lagoon isn’t spoiled by flaming, leaking oil rigs and explosions. Gawd forbid tar or a dead pelican washes up on his astroturf in the back yard.

    • John30013

      I think that’s a lawsuit waiting to happen. The blue states that aren’t getting an exception should sue the Trump administration on the basis of unequal treatment.

  • narutomania

    One word for this: criminal. Is there no way to address this? No government agency that monitors and oversees this sort of activity? Do we have to wait until we get a new president even to look into this sort of criminal activity??!?

    • not excusing the traitor in any way, but let’s face it. banks are not and haven’t been properly regulated for more than a decade now. most of our legislators are more than happy to take their money in exchange for making sure no strong regulation happens to them. the traitor is just being himself and not caring about how this looks.

      • JD

        well more than a decade … and there reach means that other jurisdictions eg Canada report through the banking system to the US gvt

    • John30013

      This should be Congress’s job, but (a) they are in the pockets of the banks too, and (b) the GOP-infested Congress sees Trump as their useful idiot so they’re willing to let him flout the law.

  • DaddyRay

    Trump isn’t even trying to hide it any more – he knows his time is limited

  • dcurlee

    Please gets judges involved in this. It’s an obviously an abuse of power and conflict of interest

  • HZ81

    Seems on the up & up to me. Now, can we please shut down the Clinton Foundation? Wells in impoverished countries and vaccines are bad!

    • DaddyRay

      The Snark is strong in this one

  • whollyfool

    I was just at the convenience store in our work complex and the tv was on. The owner looked at Trump on the tv and said. “What an idiot. I’m sorry to say I voted for him.”

    I was not expecting it from this guy. I have tiny sliver of hope.

    • SkokieGuy [ChicagoAdjacentGuy]

      People like that are too few and far between.

      • Duh-David

        I meet a surprising number of conservatives who would happily vote for a Democratic candidate if we could find a strong one.

        • SkokieGuy [ChicagoAdjacentGuy]

          And I would consider voting for a moderate (socially liberal) conservative, especially if both Houses were blue. I don’t like all three branches of government to be of the same part.

          • Todd20036

            No such animal anymore

          • SkokieGuy [ChicagoAdjacentGuy]

            Agreed. Political unicorn.

        • whollyfool

          OT: I hope you don’t mind i took a screen cap of your Alt-Write joke. It had made a LOT of people’s day(s).

          • Duh-David

            smile-gif fail

    • Mark McGovern

      As much as I cannot understand why anyone would vote for him, and as much as I resent them for voting for him, and as much as is said that Trump voters will never change their mind; I personally believe a Democratic platform should reach out to those people.

      You never know, we might be able to get just enough of them back to tip the scales. This is why I refuse to participate in the politics of “All Trump voters are…put nasty words here”. Driving them further into the arms of Trump will not serve our goals.

      • Skeptical_Inquirer

        I think there should be an acknowledgment from them first that they chose poorly though. If they’re still “Dump, Dump, Dump!” then there’s no point.

        Dem platforms in general are better overall for the country, especially in terms of social welfare but there has to be an acknowledgment that a lot of people who vote Dump vote on religious and racial basis that can’t be touched by platform changes.

        • whollyfool

          We will definitely never get the white supremacists. (Thank god. :/)

          • Mark McGovern

            We definitely don’t want them. We want to get into power to bury those fuckers deeper than they have ever been buried before.

        • Mark McGovern

          So let’s marry the Democratic platform to the needs of some of those who voted Trump. We should WANT to put the mid west coal miners back to work – just at a different job. Let’s actually set policy to help them, not just lie to them, as will be soon apparent to them that Trump did.

          I would not personalize the election. Don’t care why you voted for him in 2016, but here is our policy agenda, and here is what’s in it for you. We want your vote.

          • Skeptical_Inquirer

            They HAVE been offered retraining. They have refused it. They keep insisting on their old jobs.

          • Mark McGovern

            Clearly they have not been offered anything as concrete as what they think Trump offered. We have to try harder.

          • JCF

            Or as white, male and (supposedly) culturally Christianist as Trump offered. EVERY STUDY of the 2016 election says that RACE, not economics, was the primary driver of the white working class Trump voter!

            Are there perhaps better ways to TARGET the Democratic economic message (see above re Hillary’s platform) to the white working class? Sure, there’s always room for improvement. But we CANNOT delude ourselves that this is primarily about economics. There is a DEEP well of “But won’t that help the {N words}?” shoot-self-in-foot in much of the white working class.

          • JCF
          • Mark McGovern

            I don’t deny any of that, and I’m sure you know far more about it than me. I am not even an American. I have no vote.

            That said, I think all cards should be on the table. If any one particular voter believes the best approach is to insult Trump voters and push them father into his camp, that is their prerogative to do so, I, personally, think it is a mistake. It is a dead end street and a dead end road to endless polarization that is becoming more and more dangerous.

            Obviously, Alabama underscores what you say about race and a great lesson was learned there. But I personally wouldn’t feel comfortable resting my case. I would want to draw as many voters from as many demographics as possible.

            We (and I mean any of us who have put ourselves out there for LGBT rights) of all people should know that hardened minds can be changed, but it is uncomfortable, messy, often disappointing, and a lot of hard work. We have 3 more year.

      • whollyfool

        Right, and well put. I have reached out to several to find out why they voted for that asshole (after the initial punch to the gut had subsided a bit) and it almost always turned out they were very badly misinformed. (One said “He’s a Christian.” I fixed that idea for him.)

        Outreach might help.

        • Mark McGovern

          And policy.

          For example (and this is a fictional example only), those coal miners he wooed will not be back to work by 2020. There is no market for coal. So, what about about a mid east manufacturing and training platform with incentives to put those people back to work in the energy sector, different job? Manufacture solar panels, heat pumps, geothermal components. These things go hand in hand with Democratic environmental policy.

          • JCF

            You mean like Hillary’s platform?

            “A 100-days jobs plan: Break through Washington gridlock to make the boldest investment in good-paying jobs since World War II. Hillary will fight to pass a plan in her first 100 days in office to invest in infrastructure, manufacturing, research and technology, clean energy, and small businesses. She will strengthen trade enforcement, and she’ll say no to trade deals like TPP that don’t meet a high enough bar of creating good-paying jobs. And she will make the U.S. the clean energy superpower of the world—with half a billion solar panels installed by the end of her first term and enough clean, renewable energy to power every home in America within 10 years of her taking office.”


          • Mark McGovern

            Yep just like that. It usually takes more than one time to close the deal, although Trump did it in one. Maybe she just didn’t go there to promote it enough.

            So, was it the platform or the sell job?

            Whoever is up next needs to learn from her mistakes, not repeat them. Otherwise she wasted her time.

  • Tawreos

    Remember when criminals used o try to hide what they were doing now we get announcements because they know no one will do anything.

  • Gustav2

    Gee, I wonder if this will be covered at Brietbart?

  • Boreal
  • Boreal
  • Kevin Andrews

    The Shitgibbon’s payola schemes along with lining his own pocket at all our expense in Mar Largo and the Russian money-laundering bastards other real estate interests.
    This rape of AmeriKKKa won’t end until the Shitgibbon and his enablers are gone. The best solution is execution in the CapitAl Basin of all the Koch-sucking bastards.

  • Bj Lincoln

    I am NOT amused or surprised

  • well, it was nice living my first 40 years in a democratic republic of laws. guess that’s over now. sigh.

    • Karl Dubhe 2

      What happens there, will happen up here. 🙁

      We’ll feel your loss, soon enough.

  • SkokieGuy [ChicagoAdjacentGuy]

    Do we Interpol to get involved? The UN? Is this even possible? The Trump administration is pretty clearly part of an organized international crime ring.

  • M Jackson

    We’ve known since his first day in office that he viewed The White House as his own family
    Is it a coincidence or a cosmic joke that his cult is primarily evangelical christian?

    • prixator

      They have a lust for power in common. Dumpty wants to use it for personal gain, the EC’s want it to force their religion onto others.

  • GanymedeRenard
  • jimbo65

    Joe you forgot to add corruption in the tagline

  • Frank McCormick

    But, of course, it was Hillary that was totally in the pocket of the big banks.

  • Gigi

    If you or I were convicted and fined for manipulating global interest rates do you think we’d be allowed to keep our status as “qualified professional asset managers”? HELL NO, we’d be in jail. #LockHimUp

  • justme

    The Wall Street crash (This Time)_ should be spectacular
    It’s beginning to look like the housing bubble all over again…

  • DaveMiller135

    Either they have just stopped caring about the appearance of corruption, or they just think they’ll get away with everything. Or, my favorite, they’re shoving things through because they expect the whole thing to come clattering down around their heads, anytime now.

    • Karl Dubhe 2

      Well, there was a transcript released yesterday…

      We’re all gonna get badly fucked over, methinks. 🙁

  • Charlie 2001
  • Daveed_WOW

    But her emails! And Obama didn’t cross his heart during the pledge. Or something. Grey Poupon! Tan suit! Secret Gay Muslim!!!

  • Charlie In SF

    That’s a clear conflict of interest. And yet, the GOP continue to go along with him. What will it take to keep our kids from having to learn to speak Russian??

  • Halou

    How is that swamp draining coming along?

    Oh, I see.

  • Karl Dubhe 2

    I have no doubt the GOP will continue to collude with the Trump crooks.

    Will none dare call this treason?

    • Halou

      They wont call it what it is because they are all a part of it.

  • Robincho

    I know “Deutsche” is pronounced “doytcha” but a case could be made for “douche” also…

  • JWC

    Trump is soooo stupid

    • ted-

      Let’s not forget “shady ass motherfucker”

      I know someone will be correcting me: “daughterfucker”

  • TheManicMechanic

    Douche Bank. Yes, sometimes I’m a 12 year old at heart.

  • Randy503

    Good bye, Rule of Law. It was nice when you were around.

  • JCF
  • Gianni

    Don’t vote for Hillary, she’ll be a pawn of Wall Street. Hmmmm……….?

  • Professor Barnhardt