Reply to The BIG ONE: 20 years of Trump taxes obtained by NYTs

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]https://www.motherjones.com/politics/2020/10/people-keep-asking-who-trump-owes-400-million-to-thats-not-the-real-problem/?utm_source=facebook&utm_campaign=naytev&utm_medium=social&fbclid=IwAR0rl3xZ2VDK_ptciZsefW2hk9NgyE7YBUBs0PWIkMld-k-cnGmNpNSZZkQ

[i] The real issue is this: How does Trump—whose businesses were faltering before the coronavirus pandemic and have been battered since then—plan to handle these soon-to-be-due debts?

The Times story, based on an analysis of his tax returns, portrayed a man who gets cash windfalls—from his father’s estate, from his work on the Apprentice, and from various endorsement and licensing deals—and then immediately blows it and needs to go searching for money. A number of Trump’s properties are far from profitable and some, like his Scottish resorts, are hemorrhaging cash.

Paying the loans off, in other words, doesn’t seem like an option. His last financial disclosure shows that at the end of 2019 Trump had anywhere between $46.7 million and $156.6 million available in checking or money-market accounts. He does of course have assets he could sell. Indeed, prior to the pandemic, the Trump Organization was floating the sale of its DC hotel, and, more recently, Trump’s company has talked of selling a Westchester estate that Trump unsuccessfully tried to turn into a golf course.

If Trump can’t pay off the debts, he needs to refinance them. But banks were not keen on dealing with Trump before he became president. Who on Earth would lend Trump money now? As we reported this summer:

Nancy Wallace, a real estate finance professor at University of California, Berkeley’s Haas School of Business, says the scrutiny that Deutsche Bank has faced may scare off other banks. “I think any bank I can think of in the United States would have exactly the same response: He is toxic. Exposing yourself to that kind of oversight under the current regulatory reality, for lenders who are large enough to provide capital to him, is just a nonstarter.”[/i][/quote]
Lol motherjones[/quote]

You laugh at mother jones, but if you read it, they are citing other articles and sources. So are you LOLing at THOSE sources too?

-DP[/quote]

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