Forum Thread

Trump's debts

Reply to ThreadDisplaying 16 - 30 of 35 Prev 1 2 3 Next
  • Are you sure you want to delete this post?

    During the "press" conference, they showed an phony stack of manila folders, just to impress that Trump had given all the details of his "whatever". An "lady" lawyer explained on how he would get rid of his estate in "professional" terms, so the "deplorables" would think he "complied"; however lawyers on MSNBC and CNN said the the whole thing is an total farce and fake. He said that day one they will run into trouble. His "kid's will run the show, but will still be tied up with "pappy"who will advise them. No "blind" trust etc., dealing etc. will just continue in same old way. He said he would sent certain proceeds to the US treasury; yes sure!! ( Like he did with the 5 million he was going to sent to the VA, which they never received.)

    Thus let's wait and see when he runs into the "brick" wall. My question is why go through the effort of inauguration etc. and all the cost associated with it, while he likely will be impeached shortly after it and the whole circus has to restart all over again. "Brains" are optional here.

  • Are you sure you want to delete this post?

    Those are all true points, but impeachment and removal from office will be extremely difficult with Republicans controlling both houses of Congress. Even if the House impeaches him with a simple majority, the Senate requires 2/3 majority to uphold the impeachment. Getting 67 votes from Mitch McConnell's Senate would be a real stretch.

    Having said that, many evangelicals having the prospect of a "President Pence" might just be tempted to go for it.

  • Are you sure you want to delete this post?
    Schmidt Wrote:

    Those are all true points, but impeachment and removal from office will be extremely difficult with Republicans controlling both houses of Congress. Even if the House impeaches him with a simple majority, the Senate requires 2/3 majority to uphold the impeachment. Getting 67 votes from Mitch McConnell's Senate would be a real stretch.

    Having said that, many evangelicals having the prospect of a "President Pence" might just be tempted to go for it.

    Yes Schmidt, may be we both can start an "bible" shop and start an Finish/Dutch of course tax free church, preaching on how to survive by having no healthcare or food stamps. Of course Trump won't be hurt, except his pride, and can continue with his "empire" as is the case now.
  • Are you sure you want to delete this post?

    Trump has begun to muse about losing the election, and said he would like simply to drive away, or fly away, from the burden of the presidency. Yesterday, retired Brigadier General Peter B. Zwack wrote that, with his immense financial debts and pending legal issues, “Trump appears to be a classic flight risk.”

    Once Trump is out of office, his greatest vulnerability, at least initially, will be from the SDNY, which is investigating his tax fraud, including the fact that Trump's lenders forgave $287 million in debt - but Trump did not count that as income.

    We're all curious about who, exactly, he owes $400 million to, since that bill is due in less than a year.

    Then there are the woman who have blamed him for sexual improprieties ..

    Trump has been a con man for decades. Once he is a private citizen again, a lot more of his dirty secrets are going to be exposed to the pubic - and that will be fun to watch.

  • Are you sure you want to delete this post?

    Hopefully at some point we will get to see his full financial situation exposed in litigation against him. I would expect SCOTUS now to protect him at every turn. But it will leak out. The Putin-Russian connection is the most suspect, but the way some of these connections are deeply buried in an entanglement of offshore accounts will be difficult for the public to understand.

    There is one other point that we should consider. If Trump demands a jury trial, will we be able to find an eleven person jury that doesn't have at least one Trump supporter that has drank his Kool-Aide?

  • Are you sure you want to delete this post?

    Yes he's over 400 million in debt and likely by now even more; someone should also check his campaign money, which may have disappeared into his own pockets as well may have charged the "government" for all kind of things related to his election(s) etc. The 400 million comes due as soon he's out of office thus in 2021. I'm still wondering about the details of his "forgiven" loan of 287 million; I doubt if anyone just "forgives" such without getting something for in its place; like his properties etc. If he "stays" then the Dem's better drag him into court to explain all of this and make sure he's not robbing us (the taxpayers) blind. How is it possible that no one demanded his financial records before the election 2016, in such way that it would have been impossible for him to be elected. Thus drag all his dumb ass loyalists into court who aided and abetted him in his crimes and got him into office.

    The "oversight" is long gone in this country; please change the "election laws" and mandate an full financial disclosure before anyone can be elected. This must be the dumbest country in the world for sure.

  • Are you sure you want to delete this post?

    An insider has come forward with a stack of bank documents that may prove Trump’s loans from Deutsche Bank were backed by Putin.

    A new report released by Forensic News suggests that the loans the German bank approved were underwritten by VTB Bank—a Russian state-owned financial institution. The insider, Val Broeksmit, is the son of William S. Broeksmit the Deutsche Bank executive who took his own life in 2014.

    London-based William S. Broeksmit, committed suicide in 2014 by hanging himself from a dog leash in his home. He had a reputation as one of Deutsche’s most conscientious officials, and was close with the company’s chief executive.

    According to the Los Angeles County Medical Examiner-Coroner’s office, as reported by Los Angeles Magazine, Thomas Bowers committed suicide by hanging himself at his Malibu home on November 19, 2019.

    Bowers, 55, was at one time the head of Deutsche Bank’s American wealth management division. In that capacity, he oversaw Trump’s private banker, and is said to have signed off on some of the loans to Trump that have been characterized as unorthodox for the lending industry.

    Over two decades, Trump was able to take out around $2.5 billion in loans from Deutsche Bank. The German financial institution continued to hand him loan checks even after he defaulted on $640 million and sued the bank!

    At one point, one department of the bank loaned Trump $48 million so that he could pay back a loan taken out in another department. “No one has ever seen anything like it,” said David Enrich, finance editor of The New York Times.

    The President’s initial dealings with Deutsche Bank came just after his New Jersey casinos went bankrupt. At that time, no American banks were interested in lending him any money to squander on his failed real estate dealings.

    Deutsche Bank did not share those feelings.

    It was a lending decision that many didn’t understand. However, if the whistleblower’s information is sound, then Deutsche Bank’s actions make a lot more sense. There wasn’t any risk to lending Trump money if the Russian government was ready to make good on any defaulted loans.

    NOTE: Forensic News “is not confirming the underlying claim that VTB underwrote Trump’s loans from Deutsche Bank. Forensic News can, however, confirm that at least some of Trump’s loans were issued by a bank subsidiary with business ties to VTB. One federal agent working on the Deutsche Bank investigation indicated that VTB is under scrutiny in the FBI criminal probe. ‘We know VTB very well,’ the investigator said on background.”

    UPDATE: Forbes reported in November: “Deutsche Bank ‘Eager’ To Dump $340 Million In Loans To Trump Businesses After Election.” Forbes added, “Waiting until Trump leaves office would make it easier for the bank to demand repayment, sell the loans to another debtor, or foreclose if Trump can’t pay off or refinance the loans, Deutsche officials reportedly said.” That’s if anyone would be crazy enough to buy a Trump loan!

    Two weeks ago, the New York Times reported that “Rosemary Vrablic, who oversaw hundreds of millions of dollars in loans to President Trump’s company, will leave the bank next week.

  • Are you sure you want to delete this post?

    Arizona, excellent story. An BOMBSHELL for sure. most of it is absolutely correct; indeed the Russians are behind it. In the Zembla report made by the Dutch, way before Trump came into power, it was already mentioned that the Trump family had ties in Russia. I guess our FBI/CIA slept on the job and is still sleeping. In Europe all these things were known. Including the diamond dealings of Kussner and Co.

    It is absolutely time that all this hits the daylight and indeed shows how Trump was an "agent" of Putin all along.

    Wake up America, fix things so we don't get another "mafia" Putin lover in the W.H.

  • Are you sure you want to delete this post?

    I like to ad, that you should ask MSNBC to publish this; it all fits the actual story since 2014 ; at least the Dutch story matches it completely. Also there should immediately an inquiry made into the "behavior" of the FBI/CIA during the last 4 years and an "clean up" of this Department should take place, as well who are the "traitors " in it as well

    Your article should absolutely see the daylight also at FOX News. Trump is an"traitor" and should be punished as such, right now!!!

  • Are you sure you want to delete this post?
    Also all of this shows (what I and others have said many times) that Mueller did an lousy job, by not following the "money trail" All what is just now published could have been used and the "impeachment likely would have succeeded if Mueller would have followed that track. I just wonder who "coached" him not to follow the "money"; thus there must have been threats as well towards Mueller and he "fell" for it. So again this government and the Dem's screwed up in an big way.
  • Are you sure you want to delete this post?

    Donald Trump returns to his company this week as it faces a deepening crisis, with key properties bleeding revenue and its bankers, lawyers and customers fleeing the company.

    Financial disclosure forms, filed by the former president as he left office, revealed that his hotels, resorts and other properties had lost more than $120 million in revenue last year, as the pandemic forced long-term closures and kept customers home.

    Those losses were worst in the places where Trump could least afford it: His Washington hotel, which has a $170 million loan outstanding, saw revenue drop more than 60 percent. His Doral resort in Miami — also carrying a huge debt load — saw a 44 percent drop.

    On Thursday, the company’s troubles grew: One of its banks and one of its law firms said they would cut their ties with the Trump Organization.

    Overall, Trump listed specific revenue figures for 47 different companies, including his golf clubs, hotels and New York City park properties. Combined, revenue at those companies declined more than 35 percent last year, according to a Washington Post analysis.

    Trump faces more than $400 million in outstanding loans, including more than $290 million on Doral and the D.C. hotel.

    Ironically, the future of those businesses could depend on the man whose victory Trump tried to overturn: President Biden.

    That’s because Biden’s success in speeding up vaccinations for the coronavirus will play a major role in determining how fast the hotel and travel industries recover. In addition, because Trump’s D.C. hotel is located in a federally owned building, the Biden administration is his landlord. If Trump seeks to renegotiate his lease, or to get federal approval for a sale of the building, he will be dealing with Biden’s General Services Administration.

    Since the attack on the Capitol, Trump had lost three of the four banks that held his largest deposits. Signature Bank and Professional Bank cut their ties earlier this month. The fourth bank, Capital One, has declined to comment.

    Also Thursday, Trump lost one of his best-known law firms: Morgan Lewis, which has represented Trump on tax issues since before he ran for office. One Morgan Lewis partner, Sheri Dillon, had become a well-known defender of Trump, appearing with him in 2017 at a news conference in Trump Tower, next to a pile of papers and folders that were supposed to represent Trump relinquishing control of his businesses.

    Dillon was also involved in the Trump Organization’s handling of an estate called Seven Springs in suburban New York, where the company obtained a $21 million tax break through a “conservation easement” — essentially, a promise not to develop some of the land in exchange for a tax benefit. Now, Trump’s dealings with Seven Springs are the focus of two state-level investigations, by the Manhattan district attorney and the New York attorney general.

    The decision by Morgan Lewis marked at least two law firms that have cut ties with Trump’s company since Jan. 6. The first, Seyfarth Shaw, announced its decision last week.

  • Are you sure you want to delete this post?

    I just about "bet" that Trump will "weasel" his way out of all of this. The stupid people in our government did not do anything about his "money grabbing" while in office; he stole fortunes from the kickbacks he made from just about every deal he made while in office. Like the "wall" and Israel deals and Saudia/middle east weapons deals also from the vaccine companies etc.

    So don't pity the guy he will make also deals with all the debtors and lenders and come out of it smelling like roses.

    He's super corrupt and will stay that way and surely won't end up in the "poor" house.

    But the big question is: Did this country "learn" anything from the Trump mafia reign?

  • Are you sure you want to delete this post?

    Trump and the Republican Party raised $255.4 million in the eight-plus weeks following the Nov. 3 election, new federal filings show, as he sought to undermine and overturn the results with unfounded accusations of fraud.

    Mr. Trump had previously announced that he and the R.N.C. had raised $207.5 million in the first month following the election. The new records show that his fund-raising fell sharply in December compared with November, with an especially notably dip after Dec. 14, the day the Electoral College formally cast its ballots to make Mr. Biden the nation’s 46th president, and reality may have set in for some of Mr. Trump’s supporters about the futility of the efforts to overturn the result.

  • Are you sure you want to delete this post?

    Trump Tower in New York City is build on the site of what used to be the Bonwit Teller department store.

    Bonwit Teller was one of Fifth Avenue’s signature luxury retailers. Located at the intersection of Fifth Avenue and West 56th Street, its 12-story limestone and granite emporium was designed by Warren and Wetmore, the architects of Grand Central Terminal.

    The structure was originally the M.I. Stewart & Co. women’s apparel store. Stewart opened in October 1929, just 8 days before the stock market collapsed. Within 5 months, Stewart & Co. failed and Bonwit Teller acquired the building.

    Bonwit Teller was a Fifth Avenue mainstay for almost five decades. It experienced the glory days when chauffeurs and doormen were a way of life for customers. But over time, Fifth Avenue grew tired and several retailers closed or moved to other neighborhoods.

    As he scouted for a site, Trump learned that Bonwit Teller had grown unprofitable and its owners needed cash and could be convinced to sell the Fifth Avenue location. For several years, he relentlessly pressured the company to sell. In January 1979, Trump acquired the Bonwit Teller building for $15 million.

    As Bonwit Teller was prepared for demolition, preservationists urged Trump to save two artistic elements. A pair of 15-foot bas-relief sculptures, depicting nude women dancing with scarves, and a large nickel-plated grill, located over the store’s main entryway were promised to the Metropolitan Museum of Art.

    Trump agreed to donate them to the Met as long as the costs and the ability to physically remove the Art Deco artifacts were not unreasonably expensive.

    Trump surprised New York’s art community on June 5, 1980 when a demolition crew jackhammered the sculptures off of the building. In addition, the intricate grillwork was removed. The destruction drew a public outcry. The Met received no advance notice.

    John Baron, a spokesperson with the Trump Organization, contacted the New York Daily News to discuss the situation. Baron informed the Daily News that “the merit of the stones was not great enough to justify the effort to save them.” Baron stated that the removal process could have set back Trump Tower’s construction timeline by two weeks. Baron also told the New York Times NYT that he had no idea what happened to the ornate grillwork.

    Long after Baron’s initial contact, the New York Daily News learned that John Baron was actually Donald Trump, in disguise.

    Though Trump claimed that the removal of the sculptures would have cost his organization approximately $500,000, an initial estimate, made public, amounted to a $32,000 expense.

    Trump hired the firm Kaszycki & Sons to clear the Bonwit Teller site. Kaszycki & Sons was largely a window-washing firm with little experience in demolition. Kaszycki brought in over 200 undocumented Polish workers who worked 12-hour shifts at only $4 an hour. The firm provided no safety equipment, hard hats, googles, or masks, despite reports of asbestos. In 1983, several Polish workers filed suit against Trump, as the property’s owner, due to “horrid and terrible conditions” at the demolition site. After 15 years of litigation, Trump paid $1.4 million to the workers and settled the case.

    Trump Tower is not the most valuable property owned by Trump, but his share is worth $371 million. As his debts come due, he will be forced to sell some of this properies.

    If he sells Trump Tower, a buyer with any sense of history would include at least some reference to the Bonwit Teller company, even if did not carry the Bonwit Teller name.

  • Are you sure you want to delete this post?

    Trump has been involved in over 400o lawsuits in his career. Some of those as a plaintiff, but more (many more) as a defendant.

    At his point, it appears that he is going to be involved in lawsuits for most of the rest of his life.

    The article below provides details on all the current cases against him, but the "short story" is that there are currently 29 lawsuits in the works, and 18 are connected to his properties. More ominously, some of the remaining lawsuits (the ones in New York, Georgia, and Mississippi) could actually put him in prison.