Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsHoly Conflict of Interest! The Firm Holding Much of Trump's Debt May Be Up for Sale.
From Mother Jones yesterday:
Coming to an auction block near you: Donald Trump's $100 million mortgage on Trump Tower?
As Mother Jones has detailed for months, Trump owes hundreds of millions of dollars to a variety of lenders, giving his bankers a huge amount of potential leverage over the man who will soon occupy the most powerful office in the world. Already there are concerns about Trump's biggest lender, the troubled Deutsche Bank, which he owes at least $364 million. On Friday, Reuters reported that his second-biggest lender, a small Wall Street firm called Ladder Capital Strategies, may be putting itself up for sale to the highest bidder. Public records show Trump owes the firm at least $282 million, on four lines of credit. This means that other big money playersWall Street firms, American banks, overseas banks, financial institutions partly owned by foreign governmentscould move to buy up the debts of a US president and create a host of conflicts of interest.
Ladder Capital holds mortgages on Trump Tower and 40 Wall Street, worth $100 million and $160 million respectively, and two smaller Trump properties in New York City. All the loans Trump has taken out since 2012 have been from either Deutsche Bank and Ladder Capital. That includes his most recent loan, a $7 million mortgage from Ladder Capital that Trump took out on three condo units in the Trump International Hotel Tower on New York City's Columbus Circle. That loan was taken out in July, weeks after Trump's most recent personal financial disclosure was filed.
Reuters reported that Ladder Capital is considering a sale and has hired Citibank to help manage the deal. Reuters cited sources who said the bank was looking at a sale as it "grapples with new regulations making selling on mortgages more difficult." The firm's primary business model is to package the loans it issues and sell them to other investors. Recent Securities and Exchange Commission filings show Ladder Capital has packaged the Trump International Hotel Tower mortgage as part of a large sale of mortgages. Despite this, on Trump's personal financial disclosures, Ladder Capital is still listed as the lender Trump owes the money to.
-snip-
As Mother Jones has detailed for months, Trump owes hundreds of millions of dollars to a variety of lenders, giving his bankers a huge amount of potential leverage over the man who will soon occupy the most powerful office in the world. Already there are concerns about Trump's biggest lender, the troubled Deutsche Bank, which he owes at least $364 million. On Friday, Reuters reported that his second-biggest lender, a small Wall Street firm called Ladder Capital Strategies, may be putting itself up for sale to the highest bidder. Public records show Trump owes the firm at least $282 million, on four lines of credit. This means that other big money playersWall Street firms, American banks, overseas banks, financial institutions partly owned by foreign governmentscould move to buy up the debts of a US president and create a host of conflicts of interest.
Ladder Capital holds mortgages on Trump Tower and 40 Wall Street, worth $100 million and $160 million respectively, and two smaller Trump properties in New York City. All the loans Trump has taken out since 2012 have been from either Deutsche Bank and Ladder Capital. That includes his most recent loan, a $7 million mortgage from Ladder Capital that Trump took out on three condo units in the Trump International Hotel Tower on New York City's Columbus Circle. That loan was taken out in July, weeks after Trump's most recent personal financial disclosure was filed.
Reuters reported that Ladder Capital is considering a sale and has hired Citibank to help manage the deal. Reuters cited sources who said the bank was looking at a sale as it "grapples with new regulations making selling on mortgages more difficult." The firm's primary business model is to package the loans it issues and sell them to other investors. Recent Securities and Exchange Commission filings show Ladder Capital has packaged the Trump International Hotel Tower mortgage as part of a large sale of mortgages. Despite this, on Trump's personal financial disclosures, Ladder Capital is still listed as the lender Trump owes the money to.
-snip-
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
12 replies, 2100 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (22)
ReplyReply to this post
12 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
Holy Conflict of Interest! The Firm Holding Much of Trump's Debt May Be Up for Sale. (Original Post)
highplainsdem
Dec 2016
OP
annabanana
(52,791 posts)1. We should crowd source a buyer and evict the sob. . .n/t
Dustlawyer
(10,495 posts)3. +1!!!
NewJeffCT
(56,828 posts)4. that's an awesome idea
get some celebrities in on it, too, and we can have Rosie O'Donnell issue the eviction notice.
bettyellen
(47,209 posts)2. I kind of feel like a deep crevasse will open and the devil himself will emerge with a check book.
Achilleaze
(15,543 posts)5. Comrade Casino is flinging his deplorable Republican-style Debt Debacle
onto the back of American men and women.
Why do Republicans persist in the absolute bullshit DOUBLETHINK mindf*ck of calling themselves "conservatives?" That is so wrong.
In the world of politics, Republicans are - obviously - not "conservatives" but Casino Crapshooters (tm).
BuddyCa
(99 posts)6. they know he likes making deals
imagine the deals he could make as POTUS.
C_U_L8R
(44,998 posts)7. I see a Chinese overlord in Trump's future
How do they say 'fuck you, pay me' in Mandarin?
A HERETIC I AM
(24,366 posts)12. According to google translate;
他妈的你,付我
Tā mā de nǐ, fù wǒ
Monteg92
(7 posts)8. The following will happen when Deutsche Bank goes under
He ows no money the other bank is struggling to. No lie Trump could help him self by tanking the German economy
Baitball Blogger
(46,700 posts)9. The U.S. Presidency: The Shark Tank years.
Monteg92
(7 posts)10. What he can do is block the sale and tank Deutsche Bank
The man could get him self out of debt
Sunlei
(22,651 posts)11. probably why Romney visited, to give pointers on how to 'win billions' with bankruptcy & pink slips
Romney's a pro.