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Donald Trump 2019

Francisco 2.0

By Francisco 2.0
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GHOSTUSER
GHOSTUSER

I fucking love this President. My 2 faves during my lifetime are Trump and Nixon. They share a lot of similarities and were besieged by the same groups of assholes. No I’m not trolling. Y’all, the lef

Francisco 2.0
Francisco 2.0
Brisketexan
Brisketexan

This.....is magnificent. The "younger generation" is going to have to work double-time to fund YOUR Social Security, which YOUR generation of elected officials raided the fuck out of.  And which,

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WhatTheBuck

WhatTheBuck 28781

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17 minutes ago, longhornmatt said:

I would have thought Jack Nicklaus was more of a Rockefeller Republican than a white nationalist cult member Trumpkin.  I guess he really hated losing a tournament to Lee Trevino.

I think he's enjoying his tax break(s), regrettably doesn't hate Trump, but even if he did he'd still go golfing with him because it would hurt his business if he didn't. 

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Underdog

Underdog 28633

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16 minutes ago, scottsins said:

Not defending the guy’s character, but I don’t recall Tiger Woods ever sexually assaulting anyone. Seems to be some false equivalence upthread between DOTUS and Tiger.

Have you seen his wood?  Pretty sure it could be constituted as an assualt weapon. 

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Hugo Stiglitz

Hugo Stiglitz 23367

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I watched a PBS documentary on Mussolini this morning and that guy was a lot like Trump except much smarter and violent.  

I didn’t realize Mussolini was basically impeached and removed from office before Hiltler rescued him.  

What an interesting character to go from poor journalist to fascist dictator to full blown traitor in a 30 year span.

il duce!

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Francisco 2.0

Francisco 2.0 32393

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https://www.nytimes.com/2019/02/02/business/trump-deutsche-bank.html

 

Quote

Donald J. Trump was burning through cash.

It was early 2016, and he was lending tens of millions of dollars to his presidential campaign and had been spending large sums to expand the Trump Organization’s roster of high-end properties.

To finance his business’s growth, Mr. Trump turned to a longtime ally, Deutsche Bank, one of the few banks still willing to lend money to the man who has called himself “The King of Debt.”

 

Quote

Mr. Trump’s loan request, which has not been previously reported, set off a fight that reached the top of the German bank, according to three people familiar with the request. In the end, Deutsche Bank did something unexpected. It said no.

Senior officials at the bank, including its future chief executive, believed that Mr. Trump’s divisive candidacy made such a loan too risky, the people said. Among their concerns was that if Mr. Trump won the election and then defaulted, Deutsche Bank would have to choose between not collecting on the debt or seizing the assets of the president of the United States.

Spoiler

Two of the people familiar with the loan request said the Trump Organization had been seeking to borrow against its Miami resort to pay for work on a golf property in Turnberry, Scotland.

A Trump Organization spokeswoman, Amanda Miller, denied that the company had needed outside funding for Turnberry.

“This story is absolutely false,” Ms. Miller said. “We bought Trump Turnberry without any financing and put tens of millions of dollars of our own money into the renovation, which began in 2014. At no time was any money needed to finance the purchase or the refurbishment of Trump Turnberry.”

She did not specifically address whether the Trump Organization had sought a loan from Deutsche Bank.

Troy Gravitt, a Deutsche Bank spokesman, declined to comment.

The failed loan request is an untold chapter in Mr. Trump’s long and tortured relationship with the banking industry. It shows that he was actively engaged in running his business in the midst of the presidential campaign, and it is likely to attract scrutiny from Democrats on two House committees that are investigating his two-decade relationship with Deutsche Bank.

In the early 1990s, Mr. Trump’s hotel and casino properties declared bankruptcy four times, leaving prominent banks, including Citicorp and Manufacturers Hanover, with painful losses. The real estate mogul was all but excommunicated from Wall Street.

Deutsche Bank, which was eager to gain a foothold in the lucrative American market and more tolerant of risk than many of its rivals, filled the void. In 1998, it lent Mr. Trump $125 million for renovations on a Wall Street skyscraper. The relationship blossomed, and over the next 17 years, Deutsche Bank lent or participated in loans to Mr. Trump and his companies totaling more than $2.5 billion.

Then, just as the first votes were being cast in the Republican presidential primaries, Mr. Trump’s lender of last resort got cold feet.

The funding of Mr. Trump’s golf empire has been something of a mystery.

In the decade before he was elected president, Mr. Trump’s company spent hundreds of millions of dollars buying or renovating about a dozen clubs and resorts around the world. Despite Mr. Trump’s self-proclaimed fondness for relying on debt, the Trump Organization has reported that it used its own money for most of the acquisitions and upgrades.

A prominent golf journalist, James Dodson, said Mr. Trump’s son Eric had told him in 2013 that the company’s golf properties were funded by Russians. Eric Trump has denied making the comment.

Mr. Trump did borrow money for some of his golf properties. In 2012, Deutsche Bank lent the Trump Organization a total of more than $100 million to finance the 72-hole Doral resort near Miami, home to the famed Blue Monster course.

Two years later, the Trump Organization bought the Turnberry hotel and golf course for a reported $63 million. The course, which features sweeping views of the sea west of Scotland, has hosted the British Open several times.

In 2014 and 2015, a Trump legal entity lent at least $96 million to the subsidiary that operated Turnberry, according to British regulatory filings. The next year, the Trump Organization would go back to Deutsche Bank for more.

The relationship between Mr. Trump and Deutsche Bank had survived some rocky moments. In 2008, amid the financial crisis, Mr. Trump stopped repaying a loan to finance the construction of a skyscraper in Chicago — and then sued the bank, accusing it of helping cause the crisis. After that lawsuit, Deutsche Bank’s investment-banking arm severed ties with Mr. Trump.

But by 2010, he was back doing business with Deutsche Bank through its private-banking unit, which catered to some of the world’s wealthiest people. That unit arranged the Doral loans, and another in 2012 tied to the Chicago skyscraper.

Mr. Trump’s go-to in the private bank was Rosemary Vrablic, a senior banker in its New York office. In 2013, she was the subject of a flattering profile in The Mortgage Observer, a real estate magazine owned by Mr. Trump’s son-in-law, Jared Kushner, who was also among her clients. In 2015, she arranged the loan that financed Mr. Trump’s transformation of Washington’s Old Post Office Building into the Trump International Hotel, a few blocks down Pennsylvania Avenue from the White House.

In early 2016, as Mr. Trump was lending tens of millions of dollars to his campaign, his company contacted Ms. Vrablic about getting money for Turnberry, said two of the three people familiar with the request, who spoke on the condition of anonymity because they weren’t authorized to discuss the matter publicly. The proposal was to expand Deutsche Bank’s outstanding loans backed by the Doral by well over $10 million and to use the proceeds for work on Turnberry, the people said.

Around the time that Mr. Trump was winning New Hampshire, South Carolina and Nevada, officials in the private-banking unit informed their superiors that they were inclined to provide him with the loan, according to one of the people familiar with the internal discussions.

Senior executives in New York balked, arguing that Mr. Trump’s candidacy made such a loan unacceptably risky, the three people said. In part, they feared the bank’s reputation could be harmed if the transaction were to become public because of the polarizing statements Mr. Trump was making on the campaign trail.

Officials in the private-banking unit protested that Deutsche Bank already had numerous outstanding loans to Mr. Trump and that there was no reason not to make another, two of the people said. The decision was appealed to Deutsche Bank’s top executives in Frankfurt.

That was the first time that some senior officials realized the extent of their bank’s dealings with Mr. Trump, the three people said.

The proposed loan was examined by an internal committee that is responsible for vetting transactions to ensure they do not pose serious risks to the bank’s reputation, the people said. That March, the committee unanimously rejected the loan. Christian Sewing — who was in charge of Deutsche Bank’s wealth-management division and would become chief executive two years later — was among those who made the final decision, the people said.

A Trump entity ended up lending at least $45 million to Turnberry that year, on top of the $96 million it had lent Turnberry in the previous two years.

Even though the Deutsche Bank loan didn’t go through, it will most likely draw the interest of congressional Democrats.

Representative Adam Schiff, the chairman of the House Intelligence Committee, which is investigating Russian efforts to interfere in the 2016 election, has said he wants to look closely at Deutsche Bankbecause of its past involvement in laundering money for Russian nationals. And Democrats on the House Financial Services Committee, overseen by Representative Maxine Waters, have been asking questions about Deutsche Bank’s loans to Mr. Trump since 2017.

Mr. Schiff and Ms. Waters are planning to conduct a joint investigationof Mr. Trump’s involvement with Deutsche Bank.

During the campaign, Mr. Trump sought to take advantage of that relationship when rivals painted him as a bad businessman who was frozen out of the mainstream financial system.

The same month that Deutsche Bank rejected the loan proposal, Mr. Trump sought to blunt those attacks by citing his warm relationships with Wall Street firms. He singled out Deutsche Bank.

“They are totally happy with me,” he told The New York Times in March 2016. “I do business with them today.”

 

 

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UpperWestside

UpperWestside 6163

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52 minutes ago, Keef said:

What, the Deutsche Bank guys thought Trump would stiff them on the loan if he won the presidency?  I for one am shocked. 

Stuff like this is something else the Democrats should be highlighting. Our freaking president is found to not be worthy of receiving a loan because, well, he's a lying assclown in the view of Deutsche Bank. Think about just how embarrassing that is for us as a country. I just can't grasp how anyone still supports him outside of those who are likely ensnared due to money they received from foreign entities. 

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Fudge Nuggets

Fudge Nuggets 19190

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11 hours ago, BradInATX said:

I like how Trump tries to completely keep his golfing on the down low, except when he has a photo op with Tiger because everyone needs to know that he has a black friend and is totally not a racist.

Sent from my SM-G930V using Tapatalk
 

Tiger isn’t really black.

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Jack Straw

Jack Straw 2954

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12 hours ago, BradInATX said:

I like how Trump tries to completely keep his golfing on the down low, except when he has a photo op with Tiger because everyone needs to know that he has a black friend and is totally not a racisr. 
 

Johnny Sack admires that move.  

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Aqua Buddha

Aqua Buddha 14596

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Trump got turned down for a loan by Deutsche Bank, which was the last legitimate bank willing to deal with him.  They were afraid he'd default.  He was running out of cash in 2016 while funding the campaign and trying to bail out the Scotland golf course.  Hardly a billionaire:

Deutsche Bank denied Donald Trump a sizeable loan in 2016 to fund the then-presidential candidate’s Turnberry golf property, according to the New York Times on Saturday.

During his presidential campaign, senior Deutsche Bank officials weighed up whether they should allow Trump the loan but then decided against it after assessing that he carried too many risks. Three insiders with knowledge of the request told the Times that the group, which included the company’s future CEO, believed that Trump’s polarizing candidacy made the loan too risky.

The officials were also worried that Trump would default on the loan if he won the presidency, which could make seizing his assets a more complicated task.

https://www.newsweek.com/deutsche-bank-denied-trump-loan-2016-fearing-he-would-become-president-and-1315925

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WhatTheBuck

WhatTheBuck 28781

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I didn't gather from the NYT article that Deutsche Bank was afraid that he would default, anymore than they fear a default on any loan given, but rather about what would happen in the event that he became president and then defaulted. After all, they had already been lending him money when no American banks would. If he wasn't positioned to possibly become president, they probably would've lent him the money. They didn't expect that there was a high probability that he would default, thy just didn't want to be in the position of having to take action against the POTUS in case he did default. 

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JimmyJames

JimmyJames 12271

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31 minutes ago, WhatTheBuck said:

I didn't gather from the NYT article that Deutsche Bank was afraid that he would default, anymore than they fear a default on any loan given, but rather about what would happen in the event that he became president and then defaulted. After all, they had already been lending him money when no American banks would. If he wasn't positioned to possibly become president, they probably would've lent him the money. They didn't expect that there was a high probability that he would default, thy just didn't want to be in the position of having to take action against the POTUS in case he did default. 

Gee. I wonder where trump wound up getting the money he needed. 

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JimmyJames

JimmyJames 12271

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Trump may be a compete buffoon when it comes to things like ISIS and NATO and Wall and whatnot but that mainly because he really doesn’t give a shit about any of that. 

What he does care about is his money which is directly correlated with his massive ego and narcissistic personality disorder. He may make dumb decisions with money but he’s always closely monitoring it. 

If trump and the trump crime organization were seeking loans in 2016 and getting rejected that means trump and the trump crime organization needed the money. And there is no doubt that it was trump himself leading that effort. 

In a sense trump is smart never using email or text. Makes it easier to cover up what I have no doubt now was going on. Trump desperately needed money and certain foreign countries would conditionally be willing to lend it to him. With a catch of course. 

Attempting to win the presidency was trumps final Hail Mary after a lifetime of failure and debt. He wasn’t prepared to actually win the thing. But maybe others were. 

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