About two months ago, someone on another blog linked to an article at Slate about how American Banks had shunned Trump, and that he was given a financial lifeline by financing from Russia.
As always, follow the money.
This is an underreported story – follow the links.
Josh Marshall has been taking ‘seemingly’ unconnected things, and following the crumbs. I think he’s on point.
Trump & Putin. Yes, It’s Really a Thing
By JOSH MARSHALL
Published JULY 23, 2016, 4:15 PM EDT
Over the last year there has been a recurrent refrain about the seeming bromance between Donald Trump and Russian President Vladimir Putin. More seriously, but relatedly, many believe Trump is an admirer and would-be emulator of Putin’s increasingly autocratic and illiberal rule. But there’s quite a bit more to the story. At a minimum, Trump appears to have a deep financial dependence on Russian money from persons close to Putin. And this is matched to a conspicuous solicitousness to Russian foreign policy interests where they come into conflict with US policies which go back decades through administrations of both parties. There is also something between a non-trivial and a substantial amount of evidence suggesting Putin-backed financial support for Trump or a non-tacit alliance between the two men.
Let me start by saying I’m no Russia hawk. I have long been skeptical of US efforts to extend security guarantees to countries within what the Russians consider their ‘near abroad’ or extend such guarantees and police Russian interactions with new states which for centuries were part of either the Russian Empire or the USSR. This isn’t a matter of indifference to these countries. It is based on my belief in seriously thinking through the potential costs of such policies. In the case of the Baltics, those countries are now part of NATO. Security commitments have been made which absolutely must be kept. But there are many other areas where such commitments have not been made. My point in raising this is that I do not come to this question or these policies as someone looking for confrontation or cold relations with Russia.
Let’s start with the basic facts. There is a lot of Russian money flowing into Trump’s coffers and he is conspicuously solicitous of Russian foreign policy priorities.
I’ll list off some facts.
1. All the other discussions of Trump’s finances aside, his debt load has grown dramatically over the last year, from $350 million to $630 million. This is in just one year while his liquid assets have also decreased. Trump has been blackballed by all major US banks.
2. Post-bankruptcy Trump has been highly reliant on money from Russia, most of which has over the years become increasingly concentrated among oligarchs and sub-garchs close to Vladimir Putin. Here’s a good overview from The Washington Post, with one morsel for illustration …
Since the 1980s, Trump and his family members have made numerous trips to Moscow in search of business opportunities, and they have relied on Russian investors to buy their properties around the world.
“Russians make up a pretty disproportionate cross-section of a lot of our assets,” Trump’s son, Donald Jr., told a real estate conference in 2008, according to an account posted on the website of eTurboNews, a trade publication. “We see a lot of money pouring in from Russia.”
3. One example of this is the Trump Soho development in Manhattan, one of Trump’s largest recent endeavors. The project was the hit with a series of lawsuits in response to some typically Trumpian efforts to defraud investors by making fraudulent claims about the financial health of the project. Emerging out of that litigation however was news about secret financing for the project from Russia and Kazakhstan. Most attention about the project has focused on the presence of a twice imprisoned Russian immigrant with extensive ties to the Russian criminal underworld. But that’s not the most salient part of the story. As the Times put it,
“Mr. Lauria brokered a $50 million investment in Trump SoHo and three other Bayrock projects by an Icelandic firm preferred by wealthy Russians “in favor with” President Vladimir V. Putin, according to a lawsuit against Bayrock by one of its former executives. The Icelandic company, FL Group, was identified in a Bayrock investor presentation as a “strategic partner,” along with Alexander Mashkevich, a billionaire once charged in a corruption case involving fees paid by a Belgian company seeking business in Kazakhstan; that case was settled with no admission of guilt.”
Read the rest of his piece at the link.
Here’s another piece from Bloomberg about one of Trump’s ‘Advisors’ and the Putin Link:
Trump’s New Russia Adviser Has Deep Ties to Kremlin’s Gazprom
Carter Page brings a “real-world” resume—and says his close relations with Russian business are a strength.
By Zachary Mider
A globe-trotting American investment banker who’s built a career on deals with Russia and its state-run gas company, Carter Page says his business has suffered directly from the U.S. economic sanctions imposed after Russia’s escalating involvement in the Ukraine. When Donald Trump named him last week as one of his foreign-policy advisers, Page says his e-mail inbox filled up with positive notes from Russian contacts. “So many people who I know and have worked with have been so adversely affected by the sanctions policy,” Page said in a two-hour interview last week. “There’s a lot of excitement in terms of the possibilities for creating a better situation.”…