Bowers has played a central role in the financial rescue of Trump – suicide raises questions
Thomas Bowers, the former Managing Director of Deutsche Bank and Head of the US Private Wealth Management Division (i.e. the person in charge of Donald Trump and other high net worth clients), hanged himself at his Malibu residence last Tuesday 19th of November. Bowers had granted around 300 million high-risk loans to Trump. He had accepted Trump`s real estate as collateral. But insiders reported that the value of the real estate was around 70% higher than the actual market value. In this respect, Thomas Bowers may have played a central role in protecting Trump from insolvency. Other banks had refused to lend more to Donald Trump at the time.
This shows an interesting scheme. Trump borrowed money from one department of Deutsche Bank to pay back current loans he had taken from another department of Deutsche Bank. The New York Times, which examined Trump’s relationship with Deutsche Bank, speaks of “financial chutzpah” (“an extraordinary act of financial chutzpah”).
It is possible that the suicide of 55-year-old Thomas Bowers is connected with the FBI’s investigations. The secret service obviously asked Bowers what documents he had on Trump’s loans and demanded their surrender.
Thomas Bowers and the bizarre increase in suicides of top bankers
The bizarre increase in suicides by top bankers began on January 26th, 2014. The 58-year-old former Deutsche Bank executive William Broeksmit was found dead. William Broeksmit’s death marked the beginning of an unprecedented series of suicides. These included former Fed officials and numerous JP Morgan dealers. In October 2014, the lawyer Charlie J. Gambino (41) committed suicide as Managing Director and Associate General Counsel of Deutsche Bank’s Regulatory, Litigation and Internal Investigation Group in America (an overview of suicides and possible motives can be found here).
Even if we don’t know much about the suicides of the top bankers, it’s clear that managing or owning too much money is not without its dangers. Above all, it doesn’t make you happier!
It is not difficult to imagine what would happen if Wirecard (whose market capitalization is higher than that of Deutsche Bank) were to report the suicide of a person responsible. The “quality newspaper” Financial Times would certainly speculate for weeks. And Wirecard’s share price would plunge into a bottomless pit.
At Deutsche Bank, however, Thomas Bowers’ suicide is not even worth a mention in German newspapers. On the cover of Manager Magazine, Wirecard’s loss of control is denounced. Really absurd!