Nancy Pelosi could not believe her good fortune.
The Democrats’ effort to harass President Trump with mindless political fishing expeditions ground to a halt.
But then Nancy Pelosi celebrated when this smoking gun to impeach Trump surfaced.
Congressional Democrats subpoenaed banking institutions that did business with Donald Trump and his Trump Organization for any financial records in their possession.
As part of this subpoena, Democrats demanded to know if any of these banks had Donald Trump’s tax returns.
The President’s lawyers sued to squash the subpoenas, arguing that Congress needed a legitimate legislative purpose to issue such a subpoena.
Democrats issued the subpoena after former Trump lawyer – and admitted liar – Michael Cohen claimed the President committed banking and insurance fraud by inflating or deflating the value of his assets depending on which would benefit him financially in business dealings.
In response, the President’s legal team argued Congress was trying to conduct a criminal investigation when the Constitution does not delegate them that power.
Under the Constitution, Article II designates the Executive Branch as the proper entity to run a criminal probe.
During the court hearing over this case, Deutsche Bank – one of the financial institutions subpoenaed – refused to answer questions about if the bank had Donald Trump’s tax returns in its possession.
A judge then ordered Deutsche Bank to respond.
In court filings, Deutsche Bank then admitted it had some of Donald Trump’s tax returns.
That sent the left into joyful celebrations.
House Ways and Means Committee Chairman Richard Neal made use of an obscure 1920s law to request the Internal Revenue Service turn over the President’s tax returns.
The Trump administration sued to block this maneuver and D.C. District Court judge rejected the Democrats’ request to fast track that trial, meaning it will not be resolved until after the 2020 election since however it turns out, this case is expedited to go all the way to the Supreme Court.
But Deutsche Bank admitting they have some of Donald Trump’s tax returns on file gives Democrats a second path to obtaining the President’s tax returns.
So-called “journalists”, as well as many Democrats, floated wild conspiracy theories about what the President’s tax returns show.
Many Trump critics believe they will show evidence of money laundering.
Because of the President’s well documented financial downturn in the early 1990s – when the real estate market crashed – few banks would do business with Trump.
Deutsche Bank has a reputation as a haven for money launderers and working with Russians, so it did not take much for wild imaginations in the press to “connect the dots” and conclude that Donald Trump colluded with the Russians on massive financial crimes and used Deutsche Bank as their front.
Democrats – who had resigned themselves to defeat in the tax return fight – now sensed new life in their fight to get their hands on Donald Trump’s tax returns and using them to impeach the President.
Great American Daily will keep you up to date on any new developments in this ongoing story.