An investigation into Donald Trump's holdings revealed a web of opaque financial relationships...
Source: New York Times
An investigation into Donald Trump's holdings revealed a web of opaque financial relationships, and more than $650 million in debt
Saturday, August 20, 2016 10:32 AM EDT
On the campaign trail, Donald J. Trump, the Republican presidential nominee, has sold himself as a businessman who has made billions of dollars and is beholden to no one.
But an investigation by The New York Times into the financial maze of Mr. Trumps real estate holdings in the United States reveals that companies he owns have at least $650 million in debt twice the amount than can be gleaned from public filings he has made as part of his bid for the White House. The Timess inquiry also found that Mr. Trumps fortunes depend deeply on a wide array of financial backers, including one he has cited in attacks during his campaign.
For example, an office building on Avenue of the Americas in Manhattan, of which Mr. Trump is part owner, carries a $950 million loan. Among the lenders: the Bank of China, one of the largest banks in a country that Mr. Trump has railed against as an economic foe of the United States, and Goldman Sachs, a financial institution he has said controls Hillary Clinton, the Democratic nominee, after it paid her $675,000 in speaking fees.
Real estate projects often involve complex ownership and mortgage structures. And given Mr. Trumps long real estate career in the United States and abroad, as well as his claim that his personal wealth exceeds $10 billion, it is safe to say that no previous major party presidential nominee has had finances nearly as complicated.
-snip-
Read more: http://www.nytimes.com/2016/08/21/us/politics/donald-trump-debt.html?emc=edit_na_20160820&nlid=57435284&ref=cta&_r=0
forest444
(5,902 posts)And we're finally beginning to discover for whom.
Bernardo de La Paz
(48,785 posts)BumRushDaShow
(127,283 posts)and was about to post here but figured it would be considered analysis.
I don't think any of them know where to begin with this man's 40 year raping of the business world.
kennetha
(3,666 posts)It also explains why he won't release his taxes. He'd have to be much more transparent on his tax returns
Democat
(11,617 posts)And he claims that they own Clinton?
sarcasmo
(23,968 posts)turbinetree
(24,632 posts)because China is a communist dictatorship and then how much did he get from his boy the dictator in Russia, and then he goes around and says how much of an american he is and he loves this country----------------really.
Nice the country is being owned by foreign entities, that now own over 8% of the assets in this countries wealth, so if he defaults there goes the Avenue of America, just think of who bought the Waldorf------ the Chinese
http://www.nytimes.com/2015/11/29/business/international/chinese-cash-floods-us-real-estate-market.html
http://www.zerohedge.com/news/2014-04-03/chinese-are-buying-large-chunks-land-across-america-and-zillow-now-enabling-it
Botany
(70,288 posts)Jerry442
(1,265 posts)The only way he and a financial rival could resolve a bet as to who was the richest was to convert all their assets into silver dollars and measure the respective piles.
Ironically, the comic was spot on. Wealthy people's assets (and liabilities) are made up of such an inscrutable web of connections and oddball financial instruments that no one, not even themselves, can really know exactly how much they're worth.
(Which is not to say that if tRump's empire is a house of cards, he doesn't know it.)
Sunlei
(22,651 posts)Kathy M
(1,242 posts)"His creditors mostly are small firms, from New Jersey-based Amboy Bank to specialized real-estate firm Ladder Capital Finance LLC. Deutsche Bank is the only bank with a big Wall Street presence that continues to lend to him, The Wall Street Journal reported Saturday.
Since 2012, the German bank has lent Mr. Trump more than $300 million through its private bank. Most recently, it committed to lending Mr. Trump $170 million to help with the ongoing renovation of the Old Post Office building in Washington, which the businessman is converting into a luxury hotel. "
http://blogs.wsj.com/moneybeat/2016/03/20/trumpwallst0320/
Hope the post office renovation is looked into .........
Johnny2X2X
(18,742 posts)He didn't pay his bills so much that his credit it shot in the US, he couldn't get a car loan at any bank in the country if he tried. His word is worth less than nothing.
So he moved on years ago to borrowing from foreign banks, governments, dictatorships, and mafias. There is zero chance that he'd pass even the lowest level of security clearance because of this. If you co-signed a car loan for your brother in another country you might not pass security clearance. Trump owes hundreds of millions to some of the scariest governments and crime figures in the world.
pnwmom
(108,925 posts)a major newspaper is meant to do.
Keep going, NYT.
red dog 1
(27,647 posts)He hates many other newspapers too, especially if they publish anything negative about him
K&R - Thanks for posting, DonViejo
mcar
(42,206 posts)Violates the Statement of Purpose for this forum. Consider reposting in GD, GD16 or Good Reads.