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Trump and Deutsche Bank’s cozy tie-up

President Trump has long enjoyed the backing of one major lender: Deutsche Bank. David Enrich of the NYT has taken a deep look into their often turbulent relationship — which is now under investigation by prosecutors and Congress.

Deutsche Bank courted Mr. Trump when no one else would. He had already gone bankrupt, and no Wall Street lender would back him. But bankers at Deutsche like Mike Offit and Justin Kennedy (the son of Justice Anthony Kennedy) lent him millions. Mr. Trump rewarded some bankers, after some prompting, with a trip to his Mar-a-Lago resort.

It issued loans despite finding financial discrepancies. Deutsche Bank officials concluded that Mr. Trump was worth about $788 million, not his self-proclaimed $3 billion. And a senior banking executive told Mr. Enrich that he had told others that Mr. Trump had worked with people in the construction industry who were tied to organized crime.

Only when Mr. Trump sued Deutsche Bank did its investment banking arm drop him as a client. But its private wealth arm, hungry for business, eventually took him back and lent him millions more.