Enrich describes how Deutsche Bank’s flawed incentive system began to push the bank’s investments further out on the risk curve. Few bank-investor relationships at Deutsche Bank are as emblematic of the deteriorating health of the bank than its relationship with president Donald Trump. Starting in 1998, Deutsche Bank began to bank customers who were “unbankable,”in order to fulfill the 25% return-on-equity benchmark set by executives. Enrich describes this “match made in heaven,” between Trump and Deutsche Bank as the bank zealously strove to achieve its short-term profit goals and Donald Trump began his pivot from maligned casino magnate to real estate developer. Enrich sorts through the rat’s nest relationship between different arms of Deutsche and Donald Trump through the various bankruptcies, defaults, and lawsuits that, astonishingly, did not sever the ties between the two parties.
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