Dark Towers

Dark Towers

Deutsche Bank, Donald Trump, and An Epic Trail of Destruction

Book - 2020
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#1 WALL STREET JOURNAL BESTSELLER * NEW YORK TIMES BESTSELLER New York Times finance editor David Enrich's explosive exposé of the most scandalous bank in the world, revealing its shadowy ties to Donald Trump, Putin's Russia, and Nazi Germany "A jaw-dropping financial thriller" and#8212;Philadelphia Inquirer On a rainy Sunday in 2014, a senior executive at Deutsche Bank was found hanging in his London apartment. Bill Broeksmit had helped build the 150-year-old financial institution into a global colossus, and his sudden death was a mystery, made more so by the bank's efforts to deter investigation. Broeksmit, it turned out, was a man who knew too much. In Dark Towers, award-winning journalist David Enrich reveals the truth about Deutsche Bank and its epic path of devastation. Tracing the bank's history back to its propping up of a default-prone American developer in the 1880s, helping the Nazis build Auschwitz, and wooing Eastern Bloc authoritarians, he shows how in the 1990s, via a succession of hard-charging executives, Deutsche made a fateful decision to pursue Wall Street riches, often at the expense of ethics and the law. Soon, the bank was manipulating markets, violating international sanctions to aid terrorist regimes, scamming investors, defrauding regulators, and laundering money for Russian oligarchs. Ever desperate for an American foothold, Deutsche also started doing business with a self-promoting real estate magnate nearly every other bank in the world deemed too dangerous to touch: Donald Trump. Over the next twenty years, Deutsche executives loaned billions to Trump, the Kushner family, and an array of scandal-tarred clients, including convicted sex offender Jeffrey Epstein. Dark Towers is the never-before-told saga of how Deutsche Bank became the global face of financial recklessness and criminality—the corporate equivalent of a weapon of mass destruction. It is also the story of a man who was consumed by fear of what he'd seen at the bank—and his son's obsessive search for the secrets he kept.
Publisher: 2020
ISBN: 9780062878823
Branch Call Number: OVERDRIVE ADVANTAGE eBOOK COLLECTION
Characteristics: 1 online resource
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Hawki56
Jul 31, 2020

An odd bit of tale telling scarred by the author's side trips to highlight Trump's flaws. It is hard to tell if this was to voice his obvious dislike of Trump, to add some titillation to boost sales - or a combination of the two. It did detract, rather than add, to the quality of the book. The book covers some tumultuous times in real estate markets and there were many developers who defaulted on loans - but Enrich remains singularly focused and misses the larger picture of what was going on.

The story of Deutsche Bank and their internal corruption is fascinating - and if not for Enrich's digressions to smear Trump, he could have gone into more depth and more breadth on the Deutsche story. This biased perspective aside, it was an interesting read. Deutsche has a very checkered past - funding Nazis, funding terrorists - and no punches are pulled, though I would have liked to see more of this 'dirt' and less yellow journalism. All told, it is a horrific tale of how so much can go wrong behind the corporate veil - things the average Joe/Jane on the street typically never see.

g
gprusakowski
Jun 19, 2020

I get it that maybe some readers don't care for the way the story was narrated but I found it very fascinating how everything you could possibly do wrong to blow up the company was done. The tragedy is the toll it took on those who wanted to do the right thing but were thwarted by greed and hubris akin to the Gordon Geko character that drove people to do anything to make more money and make your bonus. The backstory about Trump is minor but pertinent in that it showed how far they would go to expand their business, ignoring red flags all the way. What happened underlines for me everything that is broken in capitalism today. I recommend this book for anyone even mildly interested in how corporate banking works and I doubt much has changed since the implosion of DB.

i
INVS
Apr 24, 2020

AD from some other library. Did not care for narrator. A bit disappointed with the minutiae, details & manner the tale is laid out. Might have liked it better in print form, but certainly no surprises in how low this man & his family can live.

m
michaelfwood
Mar 01, 2020

A journalistic triumph. Unfortunately this book ends with a congressional subpoena for Deutsche's records, including those that involve Trump. Thus this is only the first volume of a probable trilogy. The next two volumes (only possible after Trump is out of office) will doubtless cover 1) the exposure of countless criminals acts, and then 2) the inevitable indictments and prosecutions. Can't wait.

o
okrah
Feb 22, 2020

At last, the other forensic accounting bookend to David Cay Johnston's "The Making of Donald Trump". Now, if only U.S. District Judge Edgardo Ramos' ruling stands for the Deutsche Bank subpoena.

debwalker Feb 18, 2020

When it comes to the murky world of Trump, there is no bottom.

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