General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWSJ: The president-elect is in hock to no fewer than 150 financial institutions.
The debts of President-elect Donald Trump and his businesses are scattered across Wall Street banks, mutual funds and other financial institutions, broadening the tangle of interests that pose potential conflicts for the incoming presidents administration.
Hundreds of millions of dollars of debt attached to Mr. Trumps properties, some of them backed by Mr. Trumps personal guarantee, were packaged into securities and sold to investors over the past five years, according to a Wall Street Journal analysis of legal and property documents.
Mr. Trump has previously disclosed that his businesses owe at least $315 million to 10 companies. According to the Journals analysis, Trump businesses debts are held by more than 150 institutions. They bought the debt after it was sliced up and repackaged into bondsa process known as securitization, which has been used for more than $1 billion of debt connected to Mr. Trumps companies.
http://www.wsj.com/articles/trump-debts-are-widely-held-on-wall-street-creating-new-potential-conflicts-1483637414
Achilleaze
(15,543 posts)Freaking Republicans & their Evil Empire* Russian cronies are shoving this Illegitimate Jerk up America's wazoo.
He shall be the Republican role model for generations after generation of Republican rug rats as they grow up and inflict themselves on the USA.
We shall remember.
* per Saint Ronald Reagan (R).
democratisphere
(17,235 posts)to "Make America Fantastically Broke Again".
Fast Walker 52
(7,723 posts)which would crash our economy for sure. His cronies can pick up the pieces but the rest of us will be screwed
pangaia
(24,324 posts)democratisphere
(17,235 posts)Fast Walker 52
(7,723 posts)Fast Walker 52
(7,723 posts)question is--will the penalty/ taxes be worse than what they will lose under Drumphenfuhrer?
pangaia
(24,324 posts)If the world crumbles, then the early withdrawal penalty will be a mere pittance.
I am buying gold/silver with my savings that are not in my IRA (I have no pension).
And also taking cash out of my brokerage account, even my local bank, and keeping it stashed.. paranoid? Maybe,, if things don't explode, no problem.
Also buying T-Bills with my IRA funds....
good luck...
Fast Walker 52
(7,723 posts)Or is gold just more reliable?
pangaia
(24,324 posts)I don't want to buy real estate because I am 73 , retired, live in a townhouse where I have to take care of only "studs and in."
I like it that way...
Ask Donald and do exactly the opposite of what he says.
sab390
(185 posts)For your IRA or 401 look at short ETFs. Or if you think the whole thing is going to be a complete mess, like I do, try ultrashorts.
pangaia
(24,324 posts)Do you mean shorting real estate? Or just shorting in general?
moondust
(20,006 posts)Wounded Bear
(58,706 posts)Cracklin Charlie
(12,904 posts)PatSeg
(47,586 posts)He's been doing this for years now - spend and borrow, deeper and deeper into debt.
Fast Walker 52
(7,723 posts)PatSeg
(47,586 posts)I've seen this before on a much smaller scale and I think it is some kind of disorder.
I worked for a retail company that became quite successful after opening several grocery stores, but the one owner just had to keep expanding. When they were on the verge of bankruptcy, he opened one more store in a desperate attempt to save the company. He just kept borrowing and starting new ventures. The whole thing came crashing down. He died in the midst of it all and his partner had a heart attack and died shortly later while the company in bankruptcy. They were only 50 years old.
I've seen other companies do the same thing - spend and borrow and spend and borrow.
Wellstone ruled
(34,661 posts)he is a Business Expert and Amurica needs to be run by a Business man and not some Career Politician. Yah right!
BeyondGeography
(39,379 posts)Pfffffft.
erpowers
(9,350 posts)Donald Trump claims that he owes $315 million to 10 companies. However, the WSJ claims 150 banks have bought various parts of his debt, repackaged the debt, and then resold the debt. The $1 billion number might come from the $315 million being cut up and resold.
Wounded Bear
(58,706 posts)how much "underground" money does he owe? How many favors does he owe to foreign interests to achieve his "success."
erpowers
(9,350 posts)I would really like to see an investigation of his finances. I want to know if he is in debt to the point that he is broke. I want to know if he lied (finances/business) his way into the White House. I realize that is not going to happen because Republicans control Congress. Hopefully, we will some day find out whether or not a deeply indebted man made it into the White House. We may also find out whether or not he used the White House to erase his debt.
LuckyLib
(6,819 posts)digging to get at this. It's there, no doubt about it. I've argued that his tax returns are the tip of the iceberg -- it's what's hidden, off-shore and otherwise, that will really be the shocker.
Wounded Bear
(58,706 posts)Frankly, this is the Watergate of our era, only worse.
Follow the money. Was true back then, is still true.
The reporter that first gets to the core of it will be Bernstein/Woodward famous, assuming he survives.
LuckyLib
(6,819 posts)These guys don't mess around.
Wounded Bear
(58,706 posts)but we're not far off, I fear.
Fast Walker 52
(7,723 posts)page 57 he lists 5 places where he owes >$50million
SO this could be HOW MUCH exactly?
jannyd65
(22 posts)I think he is soooo friendly to Russia/Putin. He probably owes them more than he owes the Chinese. And let's not forget, didn't a Saudi prince just tweet the other day that he has lent the Trumpman millions of dollars too?
This is also why he is now a "big fan" of the intelligence community-they know his financials.
roamer65
(36,747 posts)uponit7771
(90,364 posts)... of debt then he's TECHINICALLY fucked.
But with a KGOP congress for generations to come we're never going to put in him jail.
Generations cause if the Russia, voter suppression and Comey did it once why wouldn't they do it again?!!?!
csziggy
(34,137 posts)And other considerations from foreign governments on his Trump branded properties all over the world. As a developer that is standard operating procedure. As the President of the United States, that is illegal and unconstitutional.
Fast Walker 52
(7,723 posts)apparently....
Eliot Rosewater
(31,121 posts)I mean other than a home mortgage maybe, but other than that if they owed MasterCard we would know about it and we would talk about it constantly.
The hypocrisy of the right and the media in this country is the death-nail that will be on our epitaph.
BadgerMom
(2,771 posts)This is the sort of journalism that once was published during a campaign so voters could make an informed decision. I am thrilled someone (the WSJ!) is doing so now. But, where were they during the excruciatingly protracted campaign? I'm not complaining only about the WSJ here. Where was--and is-- the media? Did they think the Republicans would eliminate him in the primary process? Were they waiting for some candidate's oppo research to do the hard work for them? Criminy!
yortsed snacilbuper
(7,939 posts)Fast Walker 52
(7,723 posts)uponit7771
(90,364 posts)Roland99
(53,342 posts)Wow...if that doesn't make tranches of sub-sub-prime loans during the last decade sound like a 24k investment by comparison I don't know what does!!!
elmac
(4,642 posts)from any US bank. He needs to go to other sources, like Putin.
Raster
(20,998 posts)MontanaMama
(23,337 posts)employee. Insurance companies can check your credit too before selling you a policy. However, we hire a goddamn PRESIDENT without seeing his taxes. Nice.
Move along...nothing to see here.
Fast Walker 52
(7,723 posts)DFW
(54,436 posts)And how, pray tell, does he intend to pacify the Middle East, by dropping enough nuclear bombs to make sure no life is left to cause trouble?
Fast Walker 52
(7,723 posts)Also, how much does he owe to Russia???
BumRushDaShow
(129,442 posts)Hmmmm.... where have we seen this type of thing before?
Hekate
(90,793 posts)ProudProgressiveNow
(6,129 posts)Butterflylady
(3,547 posts)On January 20th is giving him the keys to Fort Knox.