The Establishments war on Donald Trump
See other The Establishments war on Donald Trump Articles
Title: Donald Trump’s companies have at least $650 million in debt and one of the lenders is the Bank of China
Source:
NY Daily News
URL Source: http://www.nydailynews.com/news/pol ... million-debt-article-1.2759105
Published: Aug 20, 2016
Author: Nancy Dillon
Post Date: 2016-08-20 18:37:32 by cranky
Keywords: None
Views: 1940
Comments: 10
Donald Trump once proudly called himself the king of debt.
And based on a bombshell investigation showing his real estate empire has at least $650 million in debt — he wasn’t kidding.
The Donald’s domestic real estate companies have at least twice the amount of debt than the total made apparent on public filings he’s submitted during his presidential run, the New York Times reported Saturday.
And while Trump has railed against China during his bid for the White House, the leveraged loudmouth owns 30% of an office building on Sixth Ave. in Manhattan that counts Bank of China as one four lenders securing a $950 million loan, the Times reported.
Donald Trump, fit only for ridicule
Another lender in that quartet is Goldman Sachs, the financial firm that Trump says his Democratic rival Hillary Clinton is beholden to because it paid her $675,000 in speaking fees, the Times said.
“I’m the king of debt. I’m great with debt,” Trump said on CBS “This Morning” in June. “Nobody knows debt better than me. I’ve made a fortune by using debt. And if things don’t work out, I renegotiate the debt. That’s a smart thing, not a stupid thing.”
The Times hired property search firm RedVision Systems to delve into Trump's opaque maze of real estate holdings and help sort out his stakes in commercial and residential properties, including hotels, golf courses, office buildings and a vineyard.
The investigation sifted through Federal Election Commission filings, information provided by the Trump Organization and public filings with the Securities and Exchange Commission.
Trump rallies black voters: 'What the hell do you have to lose?'
Trump has declined to release his individual tax returns or let an independent firm confirm his claims his personal worth exceeds $10 billion.
Estimates by Forbes, Fortune and Bloomberg have pegged his personal wealth at less than $5 billion. (1 image)
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
Estimates by Forbes, Fortune and Bloomberg have pegged his personal wealth at less than $5 billion.
OMG he is poor!
At least he earned it instead of stole it like Clinton's!
Im sure the elites are trying to chip away at his wealth because he dares to stand up to them. I hope he is elected so he can get payback for himself and for the rest of us.
#2. To: cranky, Globalist Grifter (#0)
Another lender in that quartet is Goldman Sachs
Trump said that Cruz was in Goldman Sachs' pocket for borrowing a paltry $1 million.
Castle(C), Stein(G), Johnson(L)
#3. To: Justified (#1)
OMG he is poor!
I'm not going to pass the hat for him.
Forbes lists him at #324 (worth about 4.5 billion) of the world's 500 richest people.
#4. To: cranky (#0)
$650 million in debt on a $4.5 billion empire is pretty light leverage.
#5. To: hondo68 (#2)
Trump borrowed money in the course of legitimate business, they approved him because he will pay it back. Cruz was an elected official. Those charged with the public trust must be completely above board or be suspect. That is true especially once they are in office.
Exercising rights is only radical to two people, Tyrants and Slaves. Which are YOU? Our ignorance has driven us into slavery and we do not recognize it.
#6. To: jeremiad (#5) (Edited)
I agree with your general statement . However ,Trump has made it a point to demonize Goldman Sachs throughout the campaign. So he hires for his campaign ,former Goldman banker ,Steve Mnuchin as a finance guru who he would likely nominate as Treasury Sec.(He has also worked for George Soros investment companies ;and was was a heavy donor to the Clintoons ). Then he brings on Steve Bannon as CEO of his campaign(whatever that title means for a national Presidential campaign).Bannon was a mergers and acquisitions banker at Goldman. So ,as usual ,his personal attacks against Cruz were hypocritical .
In bridge, you have wild cards called trump cards. The trump cards are really wild because they change from hand to hand, depending on the bidding.
#7. To: Vicomte13 (#4)
$650 million in debt on a $4.5 billion empire is pretty light leverage.
I doubt very much of it is personal debt.
Based on the trump seminar i attended two or three decades ago, i recall trump explaining that if i owed a grand to a banker, I had a creditor that would hound me for repayment.
But if i owed a banker twenty million, i had a partner that would work with me to get out of debt.
That and the concept of a 'strategic bankruptcy' were worth the price of admission, imho.
#8. To: cranky (#0)
Compare those debt #'s to his assets.
#9. To: Logsplitter (#8)
Compare those debt #'s to his assets.
Can't do it.
All I can do is go with forbes' and bloomberg's guestimates.
Trump claims ten billion or so, they say around four and a half billion.
#10. To: hondo68 (#2)
Trump said that Cruz was in Goldman Sachs' pocket for borrowing a paltry $1 million.
Cruz is in goldman's pocket.
Cruz was going to repay that loan with services rendered.
Until he opened his big mouth at the convention, that is.
Now, goldman will have to write it off as a bad debt.
Top • Page Up • Full Thread • Page Down • Bottom/Latest
[Home] [Headlines] [Latest Articles] [Latest Comments] [Post] [Mail] [Sign-in] [Setup] [Help] [Register]