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Kushner’s Family Business Received Loans After White House Meetings

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225 W Randolph St
225 W Randolph St is owned by Kushner Co’s.

Speaking of the dimpled slumlord, Jared Kushner, apparently he is his father-in-law’s favorite for a reason: corruption comes as easily as breathing…

Early last year, a private equity billionaire started paying regular visits to the White House.

Joshua Harris, a founder of Apollo Global Management, was advising Trump administration officials on infrastructure policy. During that period, he met on multiple occasions with Jared Kushner, President Trump’s son-in-law and senior adviser, said three people familiar with the meetings. Among other things, the two men discussed a possible White House job for Mr. Harris.

The job never materialized, but in November, Apollo lent $184 million to Mr. Kushner’s family real estate firm, Kushner Companies. The loan was to refinance the mortgage on a Chicago skyscraper.

Even by the standards of Apollo, one of the world’s largest private equity firms, the previously unreported transaction with the Kushners was a big deal: It was triple the size of the average property loan made by Apollo’s real estate lending arm, securities filings show.

It was one of the largest loans Kushner Companies received last year. An even larger loan came from Citigroup, which lent the firm and one of its partners $325 million to help finance a group of office buildings in Brooklyn.

(click here to continue reading Kushner’s Family Business Received Loans After White House Meetings – The New York Times.)

For the record, I walked by 225 W. Randolph today, currently the regional headquarters of AT&T, leased from Kushner, and the building looked pretty run-down from the outside.

Slightly Run Down Entrance to 225 W Randolph
Slightly Run Down Entrance to 225 W Randolph

Jennifer Rubin of The Washington Post adds:


“Kushner represents a total failure in every possible dimension,” says ethics guru Norm Eisen. “His appointment was a violation of the federal anti-nepotism statute. We now know that he has the worst ethics and conflicts issues of anyone in the administration with the possible exception of his father-in-law. He could not even fill out his financial disclosures and security clearance forms properly, with dozens of amendments being required.” He adds, “His contacts with the Russians and other foreign governments are deeply problematic. His security clearance has been downgraded to the level of a White House intern, making it impossible for him to do the jobs for which he is purportedly there. He must go before he does any more damage.”


News this week that Kushner received jumbo loans from two banks after meeting with Citigroup and Apollo Global Management highlights the risk he poses. How many other suspect meetings have been taken? What ones are planned? Kushner apparently has no appreciation for the appearance of conflicts of interest, let alone actual conflicts. Because he is so heavily indebted and still operates his real estate company, we cannot be sure whether performance of his White House duties are for his own benefit or the country’s. If he meets with a bank executive, or representatives of one of the four countries attempting to influence there is at the very least the appearance of corruption. And because Kushner’s portfolio is so broad it seems unlikely he wouldn’t inevitably make some decision that affects his own financial interests and/or those of his lenders.


All of this goes to the legal and ethical implications of his continued presence in the White House. However, the political ramifications are nearly as bad, It’s now painfully obvious he is there solely by nepotism and that the president knew or should have known about the security risks and conflicts Kushner brought with him. To allow him to remain simply reaffirms the president’s comfort level with ethical malfeasance. Just as keeping Rob Porter for so long signaled the White House really didn’t think spousal abuse was that big a deal, Trump’s retention of Kushner suggests that the president doesn’t much care if his inner circle is beholden to foreigners.



(click here to continue reading The Jared time bomb – The Washington Post.)

Don t Say I Never Warned You
Don’t Say I Never Warned You

From NBC:

 Federal investigators are scrutinizing whether any of Jared Kushner’s business discussions with foreigners during the presidential transition later shaped White House policies in ways designed to either benefit or retaliate against those he spoke with, according to witnesses and other people familiar with the investigation.

Special counsel Robert Mueller’s team has asked witnesses about Kushner’s efforts to secure financing for his family’s real estate properties, focusing specifically on his discussions during the transition with individuals from Qatar and Turkey, as well as Russia, China and the United Arab Emirates, according to witnesses who have been interviewed as part of the investigation into possible collusion between Russia and the Trump campaign to sway the 2016 election.

Kushner’s family real estate business, Kushner Companies, approached Qatar multiple times, including last spring, about investing in the company’s troubled flagship property at 666 Fifth Avenue in New York, but the government-run sovereign wealth fund declined, according to two people familiar with the discussion. Another discussion of interest to Mueller’s team is a meeting Kushner held at Trump Tower during the transition in December 2016 with a former prime minister of Qatar, Hamad bin Jassim bin Jaber Al Thani, or HBJ, according to people familiar with the meeting.

HBJ had been in talks with Kushner Companies about investing in its Fifth Avenue property, which is facing roughly $1.4 billion in debt that is due in 2019, these people said. Those talks with the company continued after Kushner entered the White House and stepped away from the business, but last spring HBJ decided against investing, these people said.

In the weeks after Kushner Companies’ talks with the Qatari government and HBJ collapsed, the White House strongly backed an economically punishing blockade against Qatar, led by Saudi Arabia and the UAE, citing the country’s support for terrorism as the impetus. Kushner, who is both President Donald Trump’s son-in-law and a key adviser, has played a major role in Trump’s Middle East policy and has developed close relationships with the crown princes of Saudi Arabia and the UAE.

 Some top Qatari government officials believe the White House’s position on the blockade may have been a form of retaliation driven by Kushner who was sour about the failed deal.


(click here to continue reading Mueller team asking if Kushner foreign business ties influenced Trump policy – NBC News.)

Trump Eventually We Will Get Something Done
Trump: Eventually We Will Get Something Done

From Newsweek:


New York’s banking regulator has reportedly requested loan information about Jared Kushner, his family and real estate business Kushner Companies, from three banks including Deutsche Bank AG, which is steeped in another controversy involving the presidential adviser.


New York State’s Department of Financial Services last week sent letters to Deutsche Bank, Signature Bank and New York Community Bank requesting loan applications and processes, and information about the institutions’ relationships with Kushner and his business assets, a person familiar with the correspondence told Bloomberg in a report published Wednesday.

Kushner and his wife, Ivanka Trump, took on more debt over the past year from lenders including Signature Bank and New York Community Bank, recent government disclosures show. The couple had unsecured lines of credit of $5 million to $25 million from each of the three banks, according to a disclosures filing from late December.



(click here to continue reading Jared Kushner’s Loans From Deutsche Bank, Other Lenders Sought by Banking Regulator: Report.)

Written by Seth Anderson

March 2nd, 2018 at 8:16 pm

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