BREAKING NEWS

If it’s breaking news, it must be details of Trump’s criminal activity.

Sources with access to DeutscheBank records that have been subpoenaed by the House of Representatives report that Trump’s multi-million dollar loans with DB have been co-signed by Russian billionaires with close ties to Putin.

These reports are coming from only one source — so far.  These reports explain a lot.

Lawrence O’Donnell

@Lawrence

A source close to Deutsche Bank says Trump’s tax returns show he pays very little income tax and, more importantly, that his loans have Russian co-signers.

If true, that explains every kind word Trump has ever said about Russia and Putin. @TheLastWord 10pm

 

The House is after Trump’s tax and financial records because it knows Trump is a tax cheat and a money launderer for Russian oligarchs. Trump would ignore attempts to get that evidence from him, so the House subpoenaed it from his accountants (Mazars) and bankers (Deutsche Bank).

  • House subpoenas were issued by two committees: Financial Services and Intelligence. Financial Services said it wanted the records to help consider new laws that might stop Trump’s crimes in the future. Intelligence said it wants the records to see whether Trump is compromised.
  • Trump hired personal lawyers to intervene and block the subpoenas that were issued to Mazars and Deutsche Bank. Trump’s lawyers are arguing that Congress lacks a valid “legislative purpose” for getting Trump’s financial records. Let’s look closely at those arguments.
  • Financial Services wants the records as a “test case” to see if it needs new money laundering laws. Trump claims they really want the records for “law enforcement,” i.e., to see whether Trump committed crimes. Congress doesn’t have law enforcement power, so this would be invalid.
  • So this argument comes down to whether the court believes Financial Services or thinks they are lying. In both the Marzars and Deutsche Bank cases, the lower courts ruled in favor of Congress. Two separate appellate courts are reviewing the lower court rulings.
  • But, remember, the Intelligence Committee has a different rationale for its subpoena, namely to see whether Trump is compromised. Trump’s legal team really has no argument against this rationale because it’s clearly legit and within Intel’s purview.
  • There’s a chance Trump convinces the appellate courts to look behind Financial Services’ rationale and find that it really is pursuing law enforcement. But there’s virtually no chance the courts will find against the Intelligence Committee. Now the linked article becomes key.
  • The linked article indicates that the Judiciary Committee (which did not issue the subpoenas) has requested ALL evidence from ALL other committees. So if Financial Services can’t get the records, but Intelligence can, the records still find their way to the Judiciary Committee.
  • What this means is that Trump needs to defeat BOTH Financial Services AND Intelligence in order to keep his tax and financial records from getting to Judiciary for use in connection with the impeachment inquiry. Which means Trump is DOOMED.
  • The House already won both cases in district court. Mazars appeal was argued on 7/12 in the DC Circuit Court of Appeals and the Deutsche Bank case was argued on 8/23 in 2nd Circuit Court of Appeals. Both courts should find for the House, leaving Trump with an appeal to #SCOTUS.
  • Once the cases go to SCOTUS the question is whether SCOTUS will issue a Writ of Certiorari (i.e., hear the case). I can see SCOTUS taking the FinServ issue on appeal, but not the Intelligence issue. At that point, the House can drop the FinServ portion and moot the appeal.
  • The upshot of all this is that the House Intelligence Committee will get Trump’s tax and financial records showing him to be a tax cheat and a money launderer. And Intelligence will promptly share those documents with the Judiciary Committee for use in the impeachment inquiry.
  • Here’s the best part: Once the courts find the subpoenas valid, there’s nothing Trump or DOJ can do to stop them from being turned over. Mazars and Deutsche Bank are the ones holding the documents and they already have said they will comply with whatever the courts order.
  • And the Intelligence Committee hired Daniel Goldman (former deputy chief of the organized crime section of Manhattan US Attorney’s office) and Daniel Noble (co-chief of the complex frauds and cybercrime unit of Manhattan US Attorney’s office) to analyze Trump’s financials.
  • House General Counsel Douglas Letter said in open court this past Friday (8/23) that the Intelligence Committee needs Trump’s financial records because it has reason to believe he’s compromised by Russia AND Saudi Arabia.