How Trump hid another $near-half-BILLION of debt

Posted by | January 5, 2017 16:10 | Filed under: News Behaving Badly Politics

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Judd Legum at Think Progress reveals that Donald Trump owes a lot more money than he was legally obliged to reveal during campaign season:

Trump filed documents with the FEC over the summer that revealed he owed at least $315 million to ten entities. This debt, some of which is personally guaranteed by him, was a clear conflict. As president, Trump will be responsible for regulating entities that he also owes money to. Worse, these debts are frequently renegotiated, giving these companies leverage over Trump in the regulatory process.

A report this afternoon from the Wall Street Journal, however, revealed that Trump’s disclosure was the tip of the iceberg. The FEC required Trump only to report debt from entities he fully controls. The disclosure left out “more than $1.5 billion lent to partnerships that are 30%-owned by him.” That debt has been securitized and is owed to at least 150 financial entities.

Trump’s share of that debt would come to over $450,000,000. Can you say “half a billion reasons for a conflict of interest”?

These financial institutions include many firms that are under the scrutiny of the federal agencies that Trump will soon control. Wells Fargo, for example, which services over $900 million in loans connected to Trump, “is currently facing scrutiny from federal regulators surrounding its fraudulent sales practices and other issues.”

Trump will soon appoint the top regulators who will be responsible for scrutinizing the bank’s conduct.

Any chance we can jump-start an impeachment?


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Copyright 2017 Liberaland
By: dave-dr-gonzo

David Hirsch, a.k.a. Dave "Doctor" Gonzo*, is a renegade record producer, video producer, writer, reformed corporate shill, and still-registered lobbyist for non-one-percenter performing artists and musicians. He lives in a heavily fortified compound in one of Manhattan's less trendy neighborhoods.

* Hirsch is the third person to use the pseudonym, a not-so-veiled tribute to journalist and author Hunter S. Thompson, with the permission of his predecessors Gene Gaudette of American Politics Journal (currently webmaster and chief bottlewasher at Liberaland) and Stephen Meese at Smashmouth Politics.

7 responses to How Trump hid another $near-half-BILLION of debt

  1. robert January 5th, 2017 at 16:29

    Any chance of jump starting impeachment

    Not with the gov we have now, the trumpster could be Dillinger,scarface and Jack the ripper All in one and still would hold office

    • bpollen January 5th, 2017 at 18:46

      But Jack the Ripper wrote letters longer than 140 characters.

      • robert January 5th, 2017 at 19:47

        And no spell check to speak of. Maybe jack was more literate ?

        • Suzanne McFly January 5th, 2017 at 21:56

          My nephew is more literate and he is six months shy of 2 years old.

          • Larry Schmitt January 6th, 2017 at 17:38

            Your dogs are more literate.

            • Suzanne McFly January 6th, 2017 at 18:00

              Awww, my babies….your correct Larry, they understand everything their mommy says :)

  2. StoneyCurtisll January 6th, 2017 at 00:04

    I wanna see the Tax returns….
    Maybe I should just stop paying taxes…
    If the president doesn’t pay income taxes….

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