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Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction

Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction

Written by David Enrich

Narrated by BJ Harrison


Dark Towers: Deutsche Bank, Donald Trump, and an Epic Trail of Destruction

Written by David Enrich

Narrated by BJ Harrison

ratings:
4/5 (106 ratings)
Length:
13 hours
Publisher:
Released:
Feb 18, 2020
ISBN:
9780062878847
Format:
Audiobook

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Also available as ebookEbook

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Description

"In Dark Towers, David Enrich tells the story of how one of the world's mightiest banks careened off the rails, threatening everything from our financial system to our democracy through its reckless entanglement with Donald Trump. Darkly fascinating and yet all too real, it's a tale that will keep you up at night." (John Carreyrou, Pulitzer Prize winner and New York Times best-selling author of Bad Blood)

A searing exposé of the most scandalous bank in the world, including its shadowy ties to Donald Trump's business empire

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 20 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:
Released:
Feb 18, 2020
ISBN:
9780062878847
Format:
Audiobook

Also available as...

Also available as ebookEbook

About the author

David Enrich is the Business Investigations Editor at the New York Times and the #1 bestselling author of Dark Towers. He previously was an editor and reporter at the Wall Street Journal. He has won numerous journalism awards, including the 2016 Gerald Loeb Award for feature writing. His first book, The Spider Network: How a Math Genius and Gang of Scheming Bankers Pulled Off One of the Greatest Scams in History, was short-listed for the Financial Times Business Book of the Year award. Enrich grew up in Lexington, Massachusetts, and graduated from Claremont McKenna Collee in California. He currently lives in New York with his wife and two sons.



Reviews

What people think about Dark Towers

4.1
106 ratings / 14 Reviews
What did you think?
Rating: 0 out of 5 stars

Reader reviews

  • (5/5)
    This is a well-researched and insightful look at one of the world's largest banks that found itself involved in scandal after scandal, including its ties to Donald Trump and his various family members. Deutsche Bank was involved with manipulating currencies markets, violating sanctions, laundering money (especially with Russians), deceiving customers and improperly peddling mortgage bonds. They became Donald Trump's bank when no other bank would touch him, especially after his four bankruptcies and numerous defaults on loans, as well as Jared Kushner's bank when other banks would not touch him due to his father's imprisonment for tax evasion and witness tampering. Reading this book just provided me with more information and reasons not to support Donald Trump.
  • (3/5)
    A rambling hatchet piece on the big bad bank Deutsche and its nefarious deeds and criminal minds that masquerade as our banking system. And actually there probably is a lot of truth here. Deutsche might be the poster boy for bad bank behavior but let's face many banks do the same things. And the thing is they get away with it usually. Or at least no one goes to prison.So the book is a never ending compilation of the misdeeds and mayhem that was instrumental in several deaths amongst the bank officials. Not to mention the billions taken down in bad play derivatives they concocted and pedaled to the unsuspecting. Then of course there is the Trump tie in. So they go hand in hand supposedly the corrupt leading the corrupt, except it appears Trump got the better of it; so far at least. It will be interesting if the Southern District of New York hands down indictments in the near future, stay tuned.
  • (3/5)
    Probably like a 3.5. Some swings and misses, but overall a fast, enlightening and infuriating read
  • (5/5)
    Outstanding book by David Enrich the Finance Editor of The New York Times. He describes the long history of corruption by the German Deutsche Bank headquartered in Frankfort, Germany. American bankers were hired to work in Germany. The German bank set up opertations in the United States and other countries all over the world. When Donald Trump could no longer borrow money from other banks Deutsche Bank continued to loan him millions of dollars on terms very favorable to Trump. The Kushner family also borrowed money for their over-priced purchase of the 666 building in New York City from this bank. Justin Kennedy, son of Supreme Court Justice Kennedy worked for the bank and had personal and business relationships with the Trump family. I read an Audiobook version from the library and at times followed along in the hardback version.
  • (3/5)
    Interesting read covering all things Deutsche Bank from its inception to approximately 2019. The chapters were short and punchy, and overall it was far more readable than I expected. It can be pretty depressing, though--the bank has always been rife with criminality, and it undoubtedly still is.
  • (4/5)
    Deutsche Bank has loaned Donald Trump a lot of money. Some of it was unsecured. Some with his “personal guarantee.” Given that no major U.S. bank would be eager to loan Trump or members of his family money that gives the reader some idea of the judgement and decision making at Deutsche Bank.

    As I was reading of the corruption, bad judgements, poor management and greed at the Bank, I wondered how it has survived. Their technology and banking systems were described as antiquated. Employees were using Lotus Notes and Excel spreadsheets to track data. Sounds like one could not trust the accuracy of the financial reports of the corporation.

    So many suicides, divorces, drugs and aberrant behavior by executives of the bank! The author has detailed the “behind the scenes” behaviors at the bank.

    If you are a shareholder of the bank, this book is a horror story. Very well written. Entertaining.