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Tuesday, May 21, 2024

Trump swamped by massive debts



Republican Presidential candidate Donald Trump has, for most of his life, exaggerated his claimed wealth, and a new investigative report from The New York Times shows Trump awash in massive debt — more than double what he claimed he and his companies owed in the financial report he filed as a requirement for running for the Presidency.

How much debt?  At least more than $2 billion in just one partnership owed to a string of lenders that includes The Bank of China and Goldman Sachs.

The Times reports Trump is part owner of an office building on Avenue of the Americas in Manhattan that has around $950 million in debt and is involved, literally, in hundreds of LLCs and other companies with billions more in massive loans.

Trump claims his personal wealth exceeds $10 billion.  Financial firms like Forbes finds he is worth less than half of that claim and the Times investigation suggests that Trump, for all his bravado and high-living lifestyle, is virtually broke.

Campaign insiders tell Capitol Hill Blue that Trump, who promised to “self-fund” his run for the Presidency without taking any money from special interest groups and others, is now begging for donations from  those very groups because he can no longer pay his campaign bills on his own.

Not paying bills is part of Trump’s style.  He and his companies are being sued by more than 3,500 small business operators in New York alone because of unpaid bills on projects and contracts.

Political insiders suggest his run for President is, at best, a last-chance effort to avoid another bankruptcy.  He has already been part of at least four bankrupt filings by his companies and he had to sell a yacht, planes and other things to avoid personal bankruptcy when his real estate and casino empire ran out of money several years ago.

If he were become President, The Times reports, could use the power of the office to help get him out of his current financial bind:

As president, Mr. Trump would have substantial sway over monetary and tax policy, as well as the power to make appointments that would directly affect his own financial empire. He would also wield influence over legislative issues that could have a significant impact on his net worth, and would have official dealings with countries in which he has business interests.

Trump’s complex financial dealings leave an increasing number of banks unwilling to lend him money and those who do so charge higher than normal interest rates.

In his 104-page federal financial disclosure form, Trump claimed his businesses owed $315 million to a small group of lenders.  His form, however, failed to list debts of at least $650 million to a long list of creditors and partnerships in three partnerships that owe an additional $2 billion.

“I am the king of debt,” he once claimed in an interview with CNN.  “I love debt.”

That love of debt led to his four business bankruptcies and many of the loans that were supposed to fund those operations were guaranteed by him personally, which led to him selling yachts, planes and other items and agreeing, for a while, to live on a court-ordered “allowance.”

Trump officials argue that he did not have to list all of his debts because of the vagueness of the federal financial disclosure forms.  Federal officials admit that the form is based on information provided by candidates who have nowhere the complex financial dealings of someone like Trump and they admit the form allows him to hide liabilities.

Trump claims he has “no personal debt” and very little business obligations.

More trouble, however, looms.  Trump claims his run for President has helped his business empire.  More factual reports, however, show drops in attendance and bookings at his hotels and golf resorts and a sharp hike in empty offices without leases in his buildings.

His winery loses money.  His mortgage company failed.  His “university” is closed and under investigation. A controversial golf resort in Scotland is hemorrhaging cash and promised additions are on hold.

“Trump has a long and growing list of business failures,” says one banker whose company avoids doing business with him.

As often occurs when his claims are checked against the facts, Trump’s statements come up short on truth, along with his blustering claims of business acumen and wealth.


Copyright © 2016 Capitol Hill Blue

33 thoughts on “Trump swamped by massive debts”

  1. Trump likes dumb! Makes him feel powerful. Trump is Dumb and followers are Dummber. Dumb and Dumber. Ugh! I can’t stomach when he talk. He is gross and uneducated!

  2. Of course. Trump is a gangster. Six bankruptcies, and wealthier than ever? Go look up the definition of “bust out” his specialty.

    Go Google Trump mob ties.

    Take a look at his Russian mob ties as well. Putin being the Godfather of the Russian capo oligarchs.

    Then, let’s see those tax returns.

  3. Yup let’s talk about 3500 businesses vs. the 50 million people the left has stiffed, you have to have priorities right.

    Yup let’s distract with his 1/10 debt so no one talks about the 20 trillion the left stiffed the hardworking Americas out of.
    But hey let’s not worry about that, let’s just vote another one in so she can go another 10 trillion while we talk nonsense about Trumps fraction of a debt.

    I notice the story didn’t mention what Trumps debt was “before” the loser in chief took over, was he more prosperous before the left totally destroyed the economy and countless businesses started to fail?

    Yea I didn’t see that information either, Trumps entire point of running is because HE and YOU are failing with this present administrations policies. So let’s vote another a bigger failure in than the present POS in Chief.

    10 trillion in debt adds some great numbers to the stats but those stats don’t measure that growth vs. the debt so once again the people are stiffed by the left with their BS of economic growth and left with 20 Trillion in debt.

    Chapter 11 is much different that chapter 7, restructuring vs. foreclosure a very different monster, and if you expect a business person to never fail then you’re nuts, they all fail until they no longer fail.

    I bet you Ms. Trump won’t steal the china when she leaves the WH.
    Yup let’s not talk about those things though.

    • Seems to me Bush/Satan (Cheney) were in office when the economy tanked and taxpayer money was funneled to the banksters…or was THAT all Obama’s and Clinton’s fault, Rumpanzees?

  4. Do not expect the national debt to decline under a Trump presidency. In fact it will rise even faster than during the current year.

  5. Trump is still personally on the hook for RICO fraud with Trump University. Which accounts for the absurd racist attack he made on Judge Curiel.

  6. “new investigative report from The New York Times”

    I am always interested to see what Mexican billionaire Carlos Slim, who makes hundreds of millions of dollars on illegal immigration to the USA, has to say about Trump. I am still going through the this report released by Mr. Slim’s blog.

  7. i do not trust any real estate develepers they are all crooks and grossly over inflate there assists plus who the heck would invest there money in golf courses there going brooke around the country golf is a dying sport no body under 50 wants to play 5 hour golf games and the very high golf fees wake up trump is not a good business man has gone broke on 12 business I do not know any of our nations richest men in the past going broke on 12 business it is very funny that it is common knowledge among many leading republicans that is is running just to build up his image so he can borrow more money to stay afloat he is sinking faster then a bag of bricks
    and i believe he will drop out of the running by sept. he will not want to do those debates and mike pense will pick up the banner and will be a good fit as for clinton her health is not good she is losing her strength and she is a criminal and hopefully will be arested very soon with her deviate husband.

    • “and i believe he will drop out of the running by sept. he will not want to do those debates and mike pense will pick up the banner”

      I will bet you $1000 that doesn’t happen, barring an assassination. You really believe that put your money where your mouth is.

  8. I don’t know who this Doug Thompson is that wrote this report, but they are using every smear trick they can find to get Hillary in office. This is a new investigative report by the New York Times…….Hog Wash……..I think they better do a report on Hillary and Bill Clinton, What is this Foundation that they have received millions,and millions for a foundation from Foreign Countries, and have only given very little to charities, ..Does anyone remember when Bill Clinton was President, and him being impeached,and why. Remember Monica? He doesn’t deserve being back in the White House. They want to open the borders, and bring all these people from foreign countries in, well just wait until they start blowing themselves up in downtown main street. Remember it only took a few bad apples to bring down the twin towers….. , .

  9. He just donated cash and a semi loaded with relief goods to the flood victims in La. Have you heard about this? ………………..I guess not…so sad for you people.

    • I wonder where he borrowed the money from for that $100000 donation. Someone will get screwed. And yes he has been siphoning campaign donations to pay off debt in his companies, He is not self financed. I do not hate Trump personally, I just cannot stand his hair. Hillary has much better hair.

  10. Yeah right, and we’re supposed to trust the liberal media for honest reporting on Trump or any other Republican right? Pfft, nice try. Only libtard imbeciles jump on the hate Trump bandwagon when they have the biggest crook in the world, who rigged her own election from Bernie and then hired the person who rigged it for her, on the other side. Sure, that makes a lot of sense.

    • If you don’t believe the “lamestream” media, Guy…feel free to directly contact the people/companies involved and get their side of the story. I suspect that, even if those individuals/companies accounts were negative, you wouldn’t believe them. While I have serious doubts and misgivings concerning Hillary Clinton, any person campaigning to be the POTUS and didn’t know what the “Nuclear Triad” was and/or the proper deployment of such devices is truly unfit to be the POTUS. Period. I was taught this information, in the REAL military, during the Vietnam War. The same war that Trump, Cheney, Guliani and hundreds of thousands more avoided by using academic and/or physical waivers.

  11. Trump is short of cash . Good idea then to follow the Clinton’s lead and go into politics and sell influence in government. This will create a free market for state secrets and lower the prices paid by our enemies.

  12. He quotes Hitler and Stalin, best buds with Putin, with his wife and Putins girlfriend hanging out. If you ever wanted to know how terrible dictators ever get elected, here you go. With a smile and a ton of bullshit.

  13. Can you people honestly believe this crap, yes we can, little trump is nothing but a fraud. He’s been a fraud his whole life and may I add a jerk. Look at that fat governor of New Jersey, little trump owed the state 30 million dollars in back taxes, little trump knew if he didn’t pay he could settle for much less. In fact 25 million less, he only ended up paying 5 million dollars. The tax payers of New Jersey picked up the difference. And who do you think left him off the hook for 25 million, our old friend Chris Christie. I should mention that Chris did get something in return,over 600 hundred thousand in campaign contributions.

    • Business requires for you to make money…period. It does not require that you pay as much tax as you can. You may not like that he negotiated an 80% lower tax but as a businessman, it was the right thing to do for his business. Now if he could get us out of our national debt run up by Bush and Obama….we would be in good shape.

  14. once again lying and cheating donny t rump. tells the false tails …. this guy is the biggest liar inthis world

  15. Trump could have released his taxes but chose to have his financials hashed out in this form ! Tough !

  16. Anyone who signs a contract with him IS going to be screwed. It’s just Trump’s standard operating procedure.

    • “Anyone who signs a contract with him IS going to be screwed. It’s just Trump’s standard operating procedure.”

      I live in Atlantic City,NJ and I can tell you story after story of local businesses and individuals I know personally that can attest to exactly that. In fact, I know one of his accts. payable mgrs. from back in the 90’s when the royal screwing s began and she has told me that was exactly their instructions, pay no one till they sue and then go bankrupt and screw all of them. This guy is a monster and the people who are his followers have no idea not a clue about him and don’t want to know. They’ve bought the endless lies he spews plus the utter nonsense the same non-News sources have created about Hillary. She’s no angel , but compared to tRump she might as well be one. God help us all if he ever gets anywhere near the WH. He couldn’t care less about the American people, he’s running to enrich himself and abuse the office for his own gain and ego. The man is a modern version of NERO.

      • Yeah, Trump’s worth only a lousy 2-3 billion, so Clinton’s murders, perjury, treachery, and communist leanings make her a better candidate. Duh!

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