Report: Trump $1.5 billion in debt
The Wall Street Journal reports that Trump is in debt more than previously reported.
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 [Friday] 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.
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.”
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21 responses to Report: Trump $1.5 billion in debt
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William January 7th, 2017 at 09:01
I wonder how much he owes to Russian banks?
Buford2k11 January 7th, 2017 at 09:44
I wonder how much he owes to the Gambino’s….?
Nathan Pinnhead January 7th, 2017 at 15:18
Does he owe any to Joey No Socks?
mistlesuede January 7th, 2017 at 17:48
Can you just imagine what kind of explosion there would have been if PO had been partying with a known mob criminal at any time before or during his Presidency? OMG. He would have been impeached for it.
mistlesuede January 7th, 2017 at 17:49
IDK, but it’s blatantly obvious that it’s a lot.
oldfart January 7th, 2017 at 10:07
I wonder what the last straw will look like…?
Suzanne McFly January 7th, 2017 at 10:20
If all these enormous issues haven’t destroyed him, it will be something small. Like he doesn’t floss.
oldfart January 7th, 2017 at 10:34
Then again, it might be something big like a building with the name trump on it, being blown up in the middle east…maybe he’ll snap
or,
he’ll just write the loss off on his taxes…
Suzanne McFly January 7th, 2017 at 16:07
If we get to see him publicly snap before he is removed from office, it will give this “Presidency” a small bright spot.
mistlesuede January 7th, 2017 at 17:45
A building with his name on it being blown up and a fight with Democrats in Congress to stop him from going to war over it. That really could happen.
The Original Just Me January 7th, 2017 at 10:54
Something Small about Trump ??? That only leaves ONE THING. LOL :+)
Suzanne McFly January 7th, 2017 at 16:08
And we aren’t talking about his hands…
The Original Just Me January 7th, 2017 at 10:53
Brown with a few wrinkles around the edge and some Hemorrhoids.
mistlesuede January 7th, 2017 at 17:44
Yeah, me too.
Angelo_Frank January 7th, 2017 at 10:23
Let impeachment hearings begin January 21st. Trump must divest or resign.
eyelashviper January 7th, 2017 at 10:44
And no doubt there are debts to Russia that do not show up on any financial reports from the tRumplethinskin.
The Original Just Me January 7th, 2017 at 10:51
Don’t forget the almost ONE BILLION in debt to the Bank of China.
mistlesuede January 7th, 2017 at 17:42
I see you also remember that blip on the screen being reported exactly one time and never mentioned again.
The Original Just Me January 7th, 2017 at 10:55
Good Luck on that one.
amersham1046 January 7th, 2017 at 17:12
But that debt is other peoples money so he has no problem, his debt load is so large his creditors can not afford to let him go broke
mistlesuede January 7th, 2017 at 17:41
This is what I’ve been silently screaming about for months.