General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFact-Checking Trumps Claim That He Has "Very Little Debt"
?resize=990:679&no-autoBuzzfeed
Explaining how he will avoid conflicts of interest as President, Donald Trump claimed Wednesday that he owes little money to anyone, and none to Russia. As a real estate developer I have very, very little debt, Trump said at his first press conference since winning the presidency in November. I have assets that are and now people have found out how big the company is, I have very low debt.
But companies that Trump owns entirely or in part owe hundreds of millions of dollars to foreign banks, fringe lenders and mortgage companies, according to financial disclosures filed during the election and news reports based on public records.
According to his own most recent financial disclosure, filed in May with the Office of Government Ethics, companies and properties that Trump controls owe at least $315 million. Because the debts were listed in broad numerical ranges, the actual figure may be much higher.
The New York Times reported in August that companies owned by Trump owe at least $650 million. Much of that money is owed to foreign banks, including the Bank of China and Deutsche Bank, the Times reported.
Trumps development company for his new hotel in downtown Washington, D.C. borrowed $170 million from Deutsche Bank, among Germanys biggest lenders, to cover construction costs. To secure that loan, Trump put up a lease granted to him by a federal agency that he soon will oversee.
femmocrat
(28,394 posts)These massive debts have been widely reported. Does he think we would believe his blatant lies?
Tommy_Carcetti
(43,085 posts)And talked about how much he loved debt?
benld74
(9,889 posts)I've voted since Carter lost to Raygun.
I have NEVER seen a PETUS give talks with
1) a White House emblem surrounded by wording of The Office of the President Elect
2) Drump does NOT have a White House Office YET.
3) WHite House is for POTUS only
Wellstone ruled
(34,661 posts)Trump is a Reality TV creation. What we see is Stage Crafting at it's best. Notice how the Guy faces the Cameras,slight tilt to his head,what his eye focus to a monitor so he can keep a certain profile on that monitor. Let's be honest,this Guy is not very intelligent,his vocabulary is maybe 150 words at best.
Only watched about thirty seconds,and that is all one needed to do to know it was not going to be of any value. He just does not get it.
bdamomma
(63,658 posts)to hold him up. He is nothing but a bully I did not watch he is too stupid.
Wellstone ruled
(34,661 posts)He pulled off the greatest Scam ever in Political History. And he was able to corupt the Media into helping him pull this off. Sitting back and watching as this Phony is self destructs in front of us.
Will Zucker and CNN stop propping this phony up,doubt it. Hunch says,all part of the Trump Media Kissathon.
bdamomma
(63,658 posts)pathological liar I should say.
BSdetect
(8,989 posts)Proves he is overleveraged and deeply pawned by overseas financiers.
He hates being accountable.
ProfessorGAC
(64,425 posts)Not saying I believe the debt load isn't higher than that listed here, but the values represent a debt to equity ratio of 0.16
From a big business point of view, that is very little debt.
To us, $650 million is a HUGE sum of money, but a buck of debt for every 6 dollars of equity Is very good!
Not that I'm happy saying anything even modestly positive about this cretin.