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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsDonald Trump Owes At Least $250 Million to Banks
So much for his claims of being anti-establishment.
His creditors mostly are small firms, from New Jersey-based Amboy Bank to specialized real-estate firm Ladder Capital Finance LLC. Deutsche Bank AG is the only bank with a big Wall Street presence that continues to lend to him, The Wall Street Journal reported Saturday.
Since 2012, the German bank has lent Mr. Trump more than $300 million through its private bank. Most recently, it committed to lending Mr. Trump $170 million to help with the ongoing renovation of the Old Post Office building in Washington, which the businessman is converting into a luxury hotel.
Earlier deals were done through the investment bank, but ties to that unit frayed after Mr. Trump sued Deutsche Bank over a 2005 Chicago property loan. The suit was settled five years later.
Citigroup Inc., Goldman Sachs Group Inc., J.P.Morgan Chase & Co. and Morgan Stanley are among the big Wall Street shops that do very little, if any, work with Trump-affiliated businesses. Bankers say that's partly because Mr. Trump has moved away from developing multimillion-dollar real-estate projects to managing them and licensing the Trump name, reducing his need to borrow.
Since 2012, the German bank has lent Mr. Trump more than $300 million through its private bank. Most recently, it committed to lending Mr. Trump $170 million to help with the ongoing renovation of the Old Post Office building in Washington, which the businessman is converting into a luxury hotel.
Earlier deals were done through the investment bank, but ties to that unit frayed after Mr. Trump sued Deutsche Bank over a 2005 Chicago property loan. The suit was settled five years later.
Citigroup Inc., Goldman Sachs Group Inc., J.P.Morgan Chase & Co. and Morgan Stanley are among the big Wall Street shops that do very little, if any, work with Trump-affiliated businesses. Bankers say that's partly because Mr. Trump has moved away from developing multimillion-dollar real-estate projects to managing them and licensing the Trump name, reducing his need to borrow.
http://www.msn.com/en-us/money/markets/donald-trump-owes-at-least-dollar250-million-to-banks/ar-BBqHivU?li=BBnbfcL&ocid=mailsignout
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Donald Trump Owes At Least $250 Million to Banks (Original Post)
Bubzer
Mar 2016
OP
dchill
(38,447 posts)1. Trump change!
MiniMe
(21,709 posts)2. He owes it personally, or his companies owe it?
Trump has gamed the system like that before.
bhikkhu
(10,712 posts)4. At that level, borrowing is almost never personal liability
...there's always some business entity that can be folded up to erase the debt.
MiniMe
(21,709 posts)5. So another one of his companies declares bankruptcy
I think that will make 5
Hoyt
(54,770 posts)6. I think he entered campaign for publicity and future money. Then his immigrant bigotry and racism
caught on, and here we are.