Politics aside, how can we trust this bank to understand risk with this?
Or they completely understand the risk and decide to do it based on some non-business bias??
Not sure which is worse, but I’m out. How many banks have to get burned to learn a lesson?
Virtual Bank Loans [TFG] $100M After Firm Warned of ‘Unreliable’ Finances
A virtual bank run by a GOP donor has loaned former President Donald Trump’s company $100 million despite Trump’s accounting firm warning of his shaky financial past.
Trump took out a $100 million mortgage on his Manhattan skyscraper, Trump Tower, in February according to documents recorded by New York City’s Department of Finance. However, earlier that month Trump’s former accounting firm Mazars dropped him as a client, warning future creditors that a decade’s worth of his financial records “should no longer be relied upon.”
The financing came from Axos, a full-service online bank, launched in 2000 as Bank of Internet USA. It’s known for offering one of the best high-yield savings accounts available, according to Forbes.