« FFFT3 Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next

Re: In Trumpâ��s Empire, Hazy Ties and $650 Million in Debt 

By: clo in FFFT3 | Recommend this post (4)
Sat, 20 Aug 16 10:10 PM | 69 view(s)
Boardmark this board | Food For Further Thought 3
Msg. 23842 of 65535
(This msg. is a reply to 23840 by clo)

Jump:
Jump to board:
Jump to msg. #

Among the specifics, The Times reports that:

. An office building in Manhattan, which Trump partly owns, carries a $950 million loan, partially overseen by the Bank of China, one of the largest in the country.

. A "substantial portion" of Trump's wealth stems from three partnerships that owe another $2 billion. While Trump may not be held personally liable if the loans went into default, the value of his investments would drop.

. In 2015, Trump borrowed $160 million from Ladder Capital, a small New York firm, which his financial-disclosure form simply lists as valued at more than $50 million.

. The publication found three instances where Trump had ownership interest in a building but did not disclose the related debt. Of these investments, one again involves a partial loan from the Bank of China.

While the full terms of Trump's partnerships remain unknown, loans connected with them reach $1.95 billion, according to various public documents cited by The Times. Allen Weisselberg, however, told The Times that neither Trump nor the company were responsible for these debts.

The Times notes that the fact that the publication found a substantial increase in debt relates more to what the FEC form asks of candidates rather than any fault of Trump. The form requires candidates disclose their assets and debts in ranges up to $50 million, instead of precise numbers.

The Trump Organization's chief financial officer, Weisselberg, also told The Times that debts for properties where a Trump company owned less than a 100% stake were not disclosed on the form.

For the investigation, The Times partnered with national property-information firm RedVision Systems to search publicly available data on more than 30 US properties, identified through Federal Election Commission (FEC) filings and information provided by Trump, like filings with the Securities and Exchange Commission (SEC).

Although the investigation covered a variety of documents and records, The Times concentrated on commercial holdings, such as office towers, golf courses, residential properties, and other endeavors, but exempted Trump's businesses outside the US.

http://www.aol.com/article/2016/08/20/a-new-york-times-investigation-found-that-donald-trumps-us-busi/21455595/




Avatar

DO SOMETHING!




» You can also:
- - - - -
The above is a reply to the following message:
In Trump’s Empire, Hazy Ties and $650 Million in Debt
By: clo
in FFFT3
Sat, 20 Aug 16 8:46 PM
Msg. 23840 of 65535

Trump has labeled himself The King of Debt, he finally told the truth!

In Trump’s Empire, Hazy Ties and $650 Million in Debt
By SUSANNE CRAIG 9:06 AM ET

A Times investigation into the financial maze of Donald J. Trump’s real estate holdings in the United States reveals that companies he owns have at least $650 million in debt.

That is nearly twice the amount than can be gleaned from public filings he has made as part of his bid for the White House.
more NYTimes.com


« FFFT3 Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next