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originally posted by: Southern Guardian
We're supposed to trust this guy with the economy? Born with a silver spoon in his mouth, $1 million loan from his father, $40 million inherited... and yet he still manages to have how many bankruptcies and have his empire be $650 million in debt:
Donald Trump’s properties are indebted to a number of large financial institutions, including some that he’s repeatedly maligned on the campaign trail, according to a new report by the New York Times.
The newspaper found that holdings by Trump have debt amounting to at least $650 million -- a far cry from the amount ($315 million) filed on the personal financial disclosure forms he gave to the Federal Election Commission (FEC).
The campaign addressed the discrepancy to the Times, attributing it to the limited information the FEC actually requires on such forms
www.cbsnews.com...
New York times first broke the story and now it's doing the rounds.
Maybe this presidential run is just the thing Trump needs. He made $190 million extra since his initial run. Either way this does not look good at all.
originally posted by: Southern Guardian
This part of the article right here I found amusing... and disturbing at the same time:
Notably, one of these -- a Manhattan office building which Trump partly owns -- “carries a $950 million loan,” according to the Times. Goldman Sachs and the Bank of China are two of the building’s four lenders.
Trump, while on the trail, has repeatedly slammed his political rivals for their connections to Goldman Sachs. After news reports revealed back in January that his then-primary opponent Texas Sen. Ted Cruz had received two loans from Goldman Sachs and Citibank (totaling as much as $1 million) to fund his Senate campaign, Trump criticized Cruz as being beholden to banks.After news reports revealed back in January that his then-primary opponent Texas Sen. Ted Cruz had received two loans from Goldman Sachs and Citibank (totaling as much as $1 million) to fund his Senate campaign, Trump criticized Cruz as being beholden to banks.
originally posted by: Southern Guardian
originally posted by: dashen
a good developer never puts in his own cash.
he either takes a loan through an LLC that they set up, or sets up an LLC with several investors.
It may just mean he bought a lot of buildings that he is paying off.
Notice how it doesnt say he is in default on any of those loans
Hey I'll be the first to put my hand up and admit I don't fully understand the ins and outs of realstate and investment property.
That being said, I find it disturbing that he is millions debt to companies the likes of Goldman Sachs and other foreign firms, including the Bank of China.
Given that he has a $650 million loan to commit to, which to me in on itself is an indication he hasn't been all too successful in clearing his loans, and given the possibility he may not even be a billionaire, alarm bells ring.
originally posted by: Swills
a reply to: Aazadan
Sure, we know about his business but judging by his track record can you imagine what his personal debt is?! Having such debt can most definitely be used against him as leverage.
To put it in perspective, if you're gonna work for the gov't/military and require a clearance (TS/S/C) you have to pass a background check which includes your debt. If you have too much debt you don't get a clearance and that's because it could potentially be used to lure you into selling information. So with that, I suspect Trump is full of debt and continues to be grossly disqualified to be POTUS.
originally posted by: MrSpad
As they keep digging I suspect we will find a great deal about Trump is being hidden. The 650 million is interesting but, the other 2 billion in debt he shares with others is interesting since we have no idea what percentage of it is his.
The irony is of course that when it was revealed Cruz has about a million in loans from Goldman Sachs Trump made a huge deal about it and turns out he has the same thing just 100 times worse. They are going to beat him over the head with this big time. Not to mention the debt to China.
None of this of course will affect his loyal followers but, for most people it will be yet another case of Trump saying one thing and doing another.
originally posted by: 8675309jenny
originally posted by: Southern Guardian
We're supposed to trust this guy with the economy? Born with a silver spoon in his mouth, $1 million loan from his father, $40 million inherited... and yet he still manages to have how many bankruptcies and have his empire be $650 million in debt:
Donald Trump’s properties are indebted to a number of large financial institutions, including some that he’s repeatedly maligned on the campaign trail, according to a new report by the New York Times.
The newspaper found that holdings by Trump have debt amounting to at least $650 million -- a far cry from the amount ($315 million) filed on the personal financial disclosure forms he gave to the Federal Election Commission (FEC).
The campaign addressed the discrepancy to the Times, attributing it to the limited information the FEC actually requires on such forms
www.cbsnews.com...
New York times first broke the story and now it's doing the rounds.
Maybe this presidential run is just the thing Trump needs. He made $190 million extra since his initial run. Either way this does not look good at all.
You clearlydon't understand how money works.
What's the biggest loan you've ever gotten, and how does it compare to the amount you personally paid in?
He doesn't owe anyone 650mil, his businesses have been able to get loans for that total.
You don't get approved for huge loans without assets to put up against it.
originally posted by: Invicid
originally posted by: Aazadan
originally posted by: Swills
a reply to: Southern Guardian
Wouldn't all this debt disqualify him from being POTUS? Could be why he refused to release his tax returns.
No. It's debt owned by his business, not by him. The real question you should be looking at is if his real estate assets are worth more than the debt carried by them.
Shallow comment at best. Learn business ^. Do you think he outright owns his real estate assets? This is why people shouldn't speak before they know. Because I have yet to read one person on all of ATS who has even a kindergarden level of business acumen. He is a fraud, who is entirely un-successful at nearly every endeavor he has focused on. Get a #ing grip already.
originally posted by: Fowlerstoad
a reply to: Southern Guardian
So ... Trump's properties are not as indebted as the properties of our federal US government already.
I guess I just do not see the reason for drama with this thread.
I mean, if anything, maybe Trump is more qualified to lead this totally bankrupt US nation because he has experience with such things hahaha
originally posted by: Fowlerstoad
a reply to: Southern Guardian
So ... Trump's properties are not as indebted as the properties of our federal US government already.
I guess I just do not see the reason for drama with this thread.
I mean, if anything, maybe Trump is more qualified to lead this totally bankrupt US nation because he has experience with such things hahaha
originally posted by: Fowlerstoad
a reply to: Invicid
This country is already in so much debt that it will never be paid off, without a currency devaluation at a minimum, or total default at a maximum.
It is not a matter of 'if' but 'when'. The next president will only be able to affect the 'when' and not the 'if', depending on whatever Congress gives him or her to sign or veto....
originally posted by: interupt42
a reply to: Southern Guardian
If it makes you feel better hillary lost 6 billion under her watch.
The problem is she out scumbags trump on just about everything. She makes him look like a cubscout.
Eitherway we r screwed but she is the bigger proven evil. She will be our POTUS because she is part of the corrupted system.