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Thursday, March 28, 2024

Citigroup’s Loan to Kushner: The Devil Is in the Details­­­ of Citi’s Sordid History

Courtesy of Pam Martens

Jared Kushner, Senior Advisor and Son-In-Law to President Trump

Jared Kushner, Senior Advisor and Son-In-Law to President Trump

Last evening, the front page digital edition of the New York Times dropped another bombshell in what increasingly feels like a badly scripted daily soap opera that could perhaps be called “As the White House Turns” or “Days of Our Messed Up Lives.” [Don’t forget “All My Criminals” ~ Ilene]

The Times report focused on big loans that were made to Jared Kushner’s family business by two financial firms after he met at the White House with executives from those firms. There was a $184 million loan from private equity firm Apollo. There was also a $325 million loan by mega Wall Street bank Citigroup shortly after a visit by Citigroup’s CEO Michael Corbat to Kushner’s office at the White House in the spring of 2017.

Despite nepotism laws governing the Executive Branch, Kushner is both the son-in-law to President Trump as well as a Senior Advisor. Despite White House ethics rules, Kushner continues to own a big chunk of Kushner Companies, the family’s sprawling real estate business. The Times’ article puts his ownership stake at “as much as $761 million.” The Times notes an additional conflict: that while Kushner is the point man for Middle East policy “his family company continues to do deals with Israeli investors.”

Kushner is also the fellow who, according to May 2017 reports in the Washington Post and New York Times, met with Russian Ambassador Sergey Kislyak to attempt to set up a secret back channel of communications with Russians when he was part of the Trump transition team. According to an intercepted communication by U.S. intelligence officials, Kislyak reported back to Russia that Kushner had suggested using Russian diplomatic facilities located in the U.S. for these secret chitchats. Despite this, Kushner amazingly continued to be allowed to review Top Secret documents as part of his Senior Advisor role to the President.

Kushner’s Top Secret clearance has now been stripped and according to media reports, is now less than that of the White House calligrapher.

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