Economic-Incest:Trump,Kushner,Blackwater,Deutsche Bank-Shakedown-Of-America

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BlackRock Authored the Bailout Plan Before There Was a Crisis – Now It’s Been Hired by three Central Banks to Implement the Plan

-wallstreetonparade.com

All of this was happening as Blackstone was quietly financing two Kushner endeavors.

In June 2013, Kushner and CIM Group, a Los Angeles-based real-estate investor, bought an office building in Manhattan’s financial district. Though documents filed with New York show Deutsche Bank AG issued the group an $88 million loan for the property at 2 Rector St., Blackstone was also among the project’s lenders, according to a person familiar with the transaction. CIM and Kushner repaid the loan in full in March 2016 with the roughly $225-million sale of the property to investors, including Cove Property Group and Bentall Kennedy.

Undisclosed Partners

A similar arrangement enabled Kushner Cos.’ purchase of five Jehovah’s Witnesses warehouse and printing buildings that October. Documents show Natixis Real Estate Capital loaned Kushner’s consortium $249 million for the deal. Again, Blackstone was among the undisclosed partners.

The buildings, in the Brooklyn neighborhood known as Dumbo -- the acronym for Down Under the Manhattan Bridge Overpass -- were the first step in realizing Jared Kushner’s dream of a new business hub for startups and technology companies. The Witnesses’ headquarters, famous for its red “WATCHTOWER” sign, wouldn’t come until later.

Last August, Kushner Cos. and its partners bought the building with $376 million in loans from a limited liability company controlled by Blackstone Mortgage Trust Inc. The deal came a few weeks after Trump briefly eclipsed Clinton in the polls. Kushner, still in his role as CEO, announced plans to transform the property “into one of the marquee urban office campuses anywhere in the country, let alone New York City.”

The future success of the development is far from certain, as large office tenants still haven’t warmed to Brooklyn, Bloomberg reported earlier this month. Kushner Cos. will begin looking for companies to move into the Watchtower building soon.

Purchasing Power

Two things are more certain. First, the Saudis were very happy with the arms sale. Second, Blackstone’s securing the pledge from Saudi Arabia’s Public Investment Fund moves the company closer to its goal of having more than $100 billion of purchasing power for infrastructure projects, an asset type where private investment has been limited by lengthy planning and permitting processes.

Thanks to the Saudi boost, Blackstone shares are once again above their initial public offering price of $31 after slumping two years ago. That means Schwarzman, as well as having Trump’s ear, has about $500 million more in net worth.-Bloomberg

https://wallstreetonparade.com/2020/06/blackrock-authored-the-bailout-plan-before-there-was-a-crisis-now-its-been-hired-by-three-central-banks-to-implement-the-plan/

BlackRock Authored the Bailout Plan Before There Was a Crisis – Now It’s Been Hired by three Central Banks to Implement the Plan

By Pam Martens and Russ Martens: June 5, 2020 ~

It’s called “Going Direct.” That’s the financial bailout plan designed and authored by former central bankers now on the payroll at BlackRock, an  investment manager of $7 trillion in stock and bond funds. The plan was rolled out in August 2019 at the G7 summit of central bankers in Jackson Hole, Wyoming – months before the public was aware of any financial crisis. One month later, on September 17, 2019, the U.S. Federal Reserve would begin an emergency repo loan bailout program, making hundreds of billions of dollars a week in loans by “going direct” to the trading houses on Wall Street.

The BlackRock plan calls for blurring the lines between government fiscal policy and central bank monetary policy – exactly what the U.S. Treasury and the Federal Reserve are doing today in the United States. BlackRock has now been hired by the Federal Reserve, the Bank of Canada, and Sweden’s central bank, Riksbank, to implement key features of the plan. Three of the authors of the BlackRock plan previously worked as central bankers in the U.S., Canada and Switzerland, respectively.

The authors wrote in the white paper that “in a downturn the only solution is for a more formal – and historically unusual – coordination of monetary and fiscal policy to provide effective stimulus.”

We now understand why, for the first time in history, the U.S. Congress handed over $454 billion of taxpayers’ money to the Fed, without any meaningful debate, to eat losses on toxic assets produced by the Wall Street banks it supervises. The Fed plans to leverage the $454 billion into a $4.54 trillion bailout plan, “going direct” with bailouts to the commercial paper market, money market funds, and a host of other markets.

The BlackRock plan further explains why, for the first time in history, the Fed has hired BlackRock to “go direct” and buy up $750 billion in both primary and secondary corporate bonds and bond ETFs (Exchange Traded Funds), a product of which BlackRock is one of the largest purveyors in the world. Adding further outrage, the BlackRock-run program will get $75 billion of the $454 billion in taxpayers’ money to eat the losses on its corporate bond purchases, which will include its own ETFs, which the Fed is allowing it to buy in the program.......................

Kushners' Blackstone Connection Put on Display in Saudi Arabia 

In June 2013, Kushner and CIM Group, a Los Angeles-based real-estate investor, bought an office building in Manhattan’s financial district. Though documents filed with New York show Deutsche Bank AG issued the group an $88 million loan for the property at 2 Rector St., Blackstone was also among the project’s lenders, according to a person familiar with the transaction. CIM and Kushner repaid the loan in full in March 2016 with the roughly $225-million sale of the property to investors, including Cove Property Group and Bentall Kennedy......

https://www.bloomberg.com/news/articles/2017-05-26/the-kushners-the-saudis-and-blackstone-behind-the-recent-deals

When Saudi Arabia announced last week a $20-billion investment in a U.S.infrastructure fund managed by Blackstone Group LP, many noticed that it came shortly after presidential son-in-law Jared Kushner personally negotiated a $110-billion arms sale to the country. What went unnoticed -- and is largely unknown -- is how important Blackstone is to the Kushner family company.

Schwarzman, right, with Trump at the White House on April 11.

Photographer: Olivier Douliery/Pool via Bloomberg

Since 2013, Blackstone has loaned more than $400 million to finance four Kushner Cos. deals -- two of which have not been reported -- making it one of the business’s largest lenders. And their ties go beyond the loans. Stephen Schwarzman, Blackstone’s co-founder and chief executive officer, heads Trump’s business-advisory council and was in Riyadh with the president and Kushner. The Saudi promise to invest in Blackstone’s fund drove the firm’s stock up more than 8 percent.

A Blackstone spokeswoman, Christine Anderson, said the company began talks with the Saudis a year ago, “well before President Trump was even his party’s nominee.” Blackstone is one of the largest non-bank real-estate lenders, and corporate deals are often announced during state visits. A spokesman for Kushner Cos. declined to comment.

But the sequence of the deals and the intertwined personal relationships of the principals raise concerns about conflicts of interest. Schwarzman, one of the world’s richest businessmen, is a Republican and, like Trump, a resident of New York and Palm Beach. Ivanka Trump, the president’s daughter and Kushner’s wife, was an investor in a fund Blackstone created in 2010 to seed hedge funds, according to financial disclosures.......

Schwarzman’s advisory panel -- which also includes General Motors Co. CEO Mary Barra, Tesla Inc. co-founder and CEO Elon Musk and JPMorgan Chase & Co. CEO Jamie Dimon -- isn’t subject to ethics rules. Meanwhile, whether there are links among the arms deal, the Saudi investment and the loans, future steps will seem fraught.

Schwarzman’s relationship with Trump is echoed in the next generation. Jon Gray, Blackstone’s global head of real estate, met with Trump when the president-elect was interviewing candidates for Treasury secretary even though he supported Hillary Clinton..........

Blackstone doubled in 2013, thanks in large part to Gray’s real-estate deals. These included the December 2013 initial public offering of Hilton Worldwide Holdings Inc., which became the most profitable private-equity deal on record, and would later play a key role in Blackstone’s search for investors outside the U.S., notably in China. 

All of this was happening as Blackstone was quietly financing two Kushner endeavors.

In June 2013, Kushner and CIM Group, a Los Angeles-based real-estate investor, bought an office building in Manhattan’s financial district. Though documents filed with New York show Deutsche Bank AG issued the group an $88 million loan for the property at 2 Rector St., Blackstone was also among the project’s lenders, according to a person familiar with the transaction. CIM and Kushner repaid the loan in full in March 2016 with the roughly $225-million sale of the property to investors, including Cove Property Group and Bentall Kennedy.

Undisclosed Partners

A similar arrangement enabled Kushner Cos.’ purchase of five Jehovah’s Witnesses warehouse and printing buildings that October. Documents show Natixis Real Estate Capital loaned Kushner’s consortium $249 million for the deal. Again, Blackstone was among the undisclosed partners.

The buildings, in the Brooklyn neighborhood known as Dumbo -- the acronym for Down Under the Manhattan Bridge Overpass -- were the first step in realizing Jared Kushner’s dream of a new business hub for startups and technology companies. The Witnesses’ headquarters, famous for its red “WATCHTOWER” sign, wouldn’t come until later.

Last August, Kushner Cos. and its partners bought the building with $376 million in loans from a limited liability company controlled by Blackstone Mortgage Trust Inc. The deal came a few weeks after Trump briefly eclipsed Clinton in the polls. Kushner, still in his role as CEO, announced plans to transform the property “into one of the marquee urban office campuses anywhere in the country, let alone New York City.”

The future success of the development is far from certain, as large office tenants still haven’t warmed to Brooklyn, Bloomberg reported earlier this month. Kushner Cos. will begin looking for companies to move into the Watchtower building soon.

Purchasing Power

Two things are more certain. First, the Saudis were very happy with the arms sale. Second, Blackstone’s securing the pledge from Saudi Arabia’s Public Investment Fund moves the company closer to its goal of having more than $100 billion of purchasing power for infrastructure projects, an asset type where private investment has been limited by lengthy planning and permitting processes.

Thanks to the Saudi boost, Blackstone shares are once again above their initial public offering price of $31 after slumping two years ago. That means Schwarzman, as well as having Trump’s ear, has about $500 million more in net worth.

— With assistance by David Kocieniewski, Amanda L Gordon,