Timothy L. O'Brien, Columnist

Deutsche Bank’s Troubles Are Donald Trump’s Troubles

The president has a long-standing business relationship and conflict of interest with a German banking giant often mired in scandal.

November 29, 2018 at 11:19 AM EST

By Timothy L. O'Brien

Timothy L. O'Brien is senior executive editor of Bloomberg Opinion. A former editor and reporter for the New York Times, he is author of “TrumpNation: The Art of Being the Donald.”

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Photographer: Marlene Awaad/Bloomberg

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Deutsche Bank AG, the sprawling German financial giant, is in trouble again. And, to a certain extent, Deutsche's troubles are going to be President Donald Trump's troubles.

German police raided Deutsche's Frankfurt headquarters on Thursday as part of a money-laundering probe related to the Panama Papers scandal. Investigations tied to the 2016 disclosure of previously private bank and legal records linked to shell companies created by a Panama-based law firm, Mossack Fonseca & Co., revealed that Deutsche had used that network to help its clients create offshore accounts and avoid taxes.

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