In 2003, when Trump wanted to borrow another wad of cash, Deutsche Bank invited potential bond investors to come in and hear his pitch. Tons of people responded. The problem, as Enrich reports, was that the vast majority just wanted to get a glimpse of a celebrity and had no plans on entrusting him with their money.

See? Sometimes the system works. However, eventually, the bankers did manage to find some buyers. After which Trump defaulted.

And back again! Deutsche Bank gave him a $640 million loan for a skyscraper he wanted to build in Chicago. The bankers must have been nervous, but Trump made a great sales pitch — he even promised to put Ivanka in charge of the project.

Think about this. What was Ivanka’s best-known project to date? Jared.

At this point the bank did a review of Trump’s claim that he was worth about $3 billion and discovered it was more like $788 million.

But hey. He’s friends with Mike Tyson.

The skyscraper got built, but nobody seemed to want to live there. Trump, who had personally guaranteed $40 million of the loan, then went to court, pointing to a clause in the contract that said he wouldn’t have to cough up the money in the event of a natural disaster. And what about the recession? Was that a natural disaster or what?

Onward. More loans from Deutsche Bank. Some of which he used to pay back … Deutsche Bank. Nobody seemed to think that was crazy.

So, what’s the problem here? Anat Admati, a professor at the Stanford Graduate School of Business, said she found it shocking that “a corporation the size and complexity of Deutsche Bank is so poorly governed.”