WSJ: The president-elect is in hock to no fewer than 150 financial institutions.

[Cattledog]

The debts of President-elect Donald Trump and his businesses are scattered across Wall Street banks, mutual funds and other financial institutions, broadening the tangle of interests that pose potential conflicts for the incoming president’s administration.

Hundreds of millions of dollars of debt attached to Mr. Trump’s properties, some of them backed by Mr. Trump’s personal guarantee, were packaged into securities and sold to investors over the past five years, according to a Wall Street Journal analysis of legal and property documents.

Mr. Trump has previously disclosed that his businesses owe at least $315 million to 10 companies. According to the Journal’s analysis, Trump businesses’ debts are held by more than 150 institutions. They bought the debt after it was sliced up and repackaged into bonds—a process known as securitization, which has been used for more than $1 billion of debt connected to Mr. Trump’s companies.





http://www.wsj.com/articles/trump-debts-are-widely-held-on-wall-street-creating-new-potential-conflicts-1483637414

[Achilleaze]

1. Republican family-values role model Comrade Casino is such an unrepentant con man

Freaking Republicans & their Evil Empire* Russian cronies are shoving this Illegitimate Jerk up America's wazoo.

He shall be the Republican role model for generations after generation of Republican rug rats as they grow up and inflict themselves on the USA.

We shall remember.



* per Saint Ronald Reagan (R).

[democratisphere]

7. I'm certain drumpf can duplicate the fantastic success he has had with his businesses

to "Make America Fantastically Broke Again".

[Fast Walker 52]

22. I've little doubt he will do that, don't forget he wants to sell off US debt at a bargain price

which would crash our economy for sure. His cronies can pick up the pieces but the rest of us will be screwed

[pangaia]

27. BUY GOLD and SILVER

[democratisphere]

30. Diamonds can be hidden in secret compartments in the sole of your shoes.

[Fast Walker 52]

32. shit, that's not even funny

[Fast Walker 52]

33. problem is most of my savings are in 401k plans and there's a big penalty/taxes for early withdrawal

question is--will the penalty/ taxes be worse than what they will lose under Drumphenfuhrer?

[pangaia]

40. Very true problem. And a questin I have been asking as well.

If the world crumbles, then the early withdrawal penalty will be a mere pittance.

I am buying gold/silver with my savings that are not in my IRA (I have no pension).
And also taking cash out of my brokerage account, even my local bank, and keeping it stashed.. paranoid? Maybe,, if things don't explode, no problem.

Also buying T-Bills with my IRA funds....

good luck...

[Fast Walker 52]

42. What about buying real estate?

Or is gold just more reliable?

[pangaia]

44. Believe me. I am NOT the one to ask. :)))

I don't want to buy real estate because I am 73 , retired, live in a townhouse where I have to take care of only "studs and in."

I like it that way...

Ask Donald and do exactly the opposite of what he says.

[sab390]

48. There are ways

For your IRA or 401 look at short ETFs. Or if you think the whole thing is going to be a complete mess, like I do, try ultrashorts.

[pangaia]

49. Thanks, I will have a look.

Do you mean shorting real estate? Or just shorting in general?

[moondust]

2. Helloooooo taxpayers!!!!

[Wounded Bear]

3. So, he has his own personal financial bubble?

[Cracklin Charlie]

9. He'll, he's his own Ponzi scheme.

[PatSeg]

17. Exactly!

He's been doing this for years now - spend and borrow, deeper and deeper into debt.

[Fast Walker 52]

34. it can't go on forever-- apparently he's going to go bust on all of us

[PatSeg]

43. Undoubtedly

I've seen this before on a much smaller scale and I think it is some kind of disorder.

I worked for a retail company that became quite successful after opening several grocery stores, but the one owner just had to keep expanding. When they were on the verge of bankruptcy, he opened one more store in a desperate attempt to save the company. He just kept borrowing and starting new ventures. The whole thing came crashing down. He died in the midst of it all and his partner had a heart attack and died shortly later while the company in bankruptcy. They were only 50 years old.

I've seen other companies do the same thing - spend and borrow and spend and borrow.

[Wellstone ruled]

4. But but,

he is a Business Expert and Amurica needs to be run by a Business man and not some Career Politician. Yah right!

[BeyondGeography]

5. 10 companies or 150; $315 million or $1 billion

Pfffffft.

[erpowers]

10. He Claims One Thing WSJ Claims Another Thing

Donald Trump claims that he owes $315 million to 10 companies. However, the WSJ claims 150 banks have bought various parts of his debt, repackaged the debt, and then resold the debt. The $1 billion number might come from the $315 million being cut up and resold.

[Wounded Bear]

23. And we're arguing about just the shit we can see...

how much "underground" money does he owe? How many favors does he owe to foreign interests to achieve his "success."

[erpowers]

28. Investigation

I would really like to see an investigation of his finances. I want to know if he is in debt to the point that he is broke. I want to know if he lied (finances/business) his way into the White House. I realize that is not going to happen because Republicans control Congress. Hopefully, we will some day find out whether or not a deeply indebted man made it into the White House. We may also find out whether or not he used the White House to erase his debt.

[LuckyLib]

29. THIS is the real question. If we had any decent investigative media here, they would be

digging to get at this. It's there, no doubt about it. I've argued that his tax returns are the tip of the iceberg -- it's what's hidden, off-shore and otherwise, that will really be the shocker.

[Wounded Bear]

31. Agreed...

Frankly, this is the Watergate of our era, only worse.

Follow the money. Was true back then, is still true.

The reporter that first gets to the core of it will be Bernstein/Woodward famous, assuming he survives.

[LuckyLib]

35. And in Putin's world, survival of people who ask questions or challenge authority can be tricky.

These guys don't mess around.

[Wounded Bear]

36. I don't think we're there quite yet...

but we're not far off, I fear.

[Fast Walker 52]

37. seriously. Here's his financial disclosure form... not a lot of details on the liability page

https://www.documentcloud.org/documents/2838696-Trump-2016-Financial-Disclosure.html

page 57 he lists 5 places where he owes >$50million

SO this could be HOW MUCH exactly?

[jannyd65]

41. This is why....

I think he is soooo friendly to Russia/Putin. He probably owes them more than he owes the Chinese. And let's not forget, didn't a Saudi prince just tweet the other day that he has lent the Trumpman millions of dollars too?

This is also why he is now a "big fan" of the intelligence community-they know his financials.

[roamer65]

6. The split second he completes the oath, he's in violation of the Constitution.

[uponit7771]

15. Yeap, the second one of those foreign banks lowers their interest rates or forgives a certain amount

... of debt then he's TECHINICALLY fucked.

But with a KGOP congress for generations to come we're never going to put in him jail.

Generations cause if the Russia, voter suppression and Comey did it once why wouldn't they do it again?!!?!

[csziggy]

39. He doesn't have to wait for that - he gets favorable tax rates

And other considerations from foreign governments on his Trump branded properties all over the world. As a developer that is standard operating procedure. As the President of the United States, that is illegal and unconstitutional.

[Fast Walker 52]

38. in theory, but you know "we're in uncharted territory with Trump" so there are no rules anymore

apparently....

[Eliot Rosewater]

8. If President Obama or Hillary Clinton had one debt, one, it would be front page news for months.

I mean other than a home mortgage maybe, but other than that if they owed MasterCard we would know about it and we would talk about it constantly.

The hypocrisy of the right and the media in this country is the death-nail that will be on our epitaph.

[BadgerMom]

11. Once upon a time in the 1970s or earlier

This is the sort of journalism that once was published during a campaign so voters could make an informed decision. I am thrilled someone (the WSJ!) is doing so now. But, where were they during the excruciatingly protracted campaign? I'm not complaining only about the WSJ here. Where was--and is-- the media? Did they think the Republicans would eliminate him in the primary process? Were they waiting for some candidate's oppo research to do the hard work for them? Criminy!

[yortsed snacilbuper]

12. Ponzi scheme?

[Fast Walker 52]

21. a con job played out on the largest possible stage

[uponit7771]

13. Fuckin wow!!!

[Roland99]

14. " backed by Mr. Trumps personal guarantee, were packaged into securities and sold to investors"

Wow...if that doesn't make tranches of sub-sub-prime loans during the last decade sound like a 24k investment by comparison I don't know what does!!!

[elmac]

16. That is why his business credit rating is too low to borrow

from any US bank. He needs to go to other sources, like Putin.

[Raster]

18. "...some of them backed by Mr. Trumps personal guarantee..."

[MontanaMama]

19. I find it ironic that an employer can run a credit check on a potential

employee. Insurance companies can check your credit too before selling you a policy. However, we hire a goddamn PRESIDENT without seeing his taxes. Nice.

Move along...nothing to see here.

[Fast Walker 52]

25. the GOP is playing with fire-- and our lives- it's freaking insane

[DFW]

20. And THIS is the guy who will help reduce the national debt?

And how, pray tell, does he intend to pacify the Middle East, by dropping enough nuclear bombs to make sure no life is left to cause trouble?

[Fast Walker 52]

24. I find it hard to believe it's only $1 billion

Also, how much does he owe to Russia???

[BumRushDaShow]

26. "sliced up and repackaged"

Hmmmm.... where have we seen this type of thing before?

[Hekate]

45. NOW the WSJ shares this with the voters?!

[ProudProgressiveNow]

46. K&R nt

[Butterflylady]

47. And the republican party

On January 20th is giving him the keys to Fort Knox.