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Sat Jun 3, 2017, 08:34 AM

The more we hear and read about the Trump's and Kushner's business debts and the other...

stories coming from their backgrounds. One has to wonder, how in the hell did they were ever able to do business with those other companies, before they ran to the Russian banks? Trump said he is worth 10 billion $$ and Jared is 1.3 billion in debt! Some awful bookkeeping in this so called wealthy family! Sounds like it's a mafia business to me?

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Reply The more we hear and read about the Trump's and Kushner's business debts and the other... (Original post)
imanamerican63 Jun 2017 OP
Phoenix61 Jun 2017 #1
Buckeyeblue Jun 2017 #2
imanamerican63 Jun 2017 #3
Buckeyeblue Jun 2017 #5
smirkymonkey Jun 2017 #4
mercuryblues Jun 2017 #6
BSdetect Jun 2017 #7
karynnj Jun 2017 #8

Response to imanamerican63 (Original post)

Sat Jun 3, 2017, 08:41 AM

1. I think Madooff would be proud

LLCs buried within LLCs buried within LLCs makes it really difficult to know exactly what is going on. However, as President, Twitler will be audited this year and I'm guessing it won't be the new guy doing the audit. Should be interesting.

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Response to imanamerican63 (Original post)

Sat Jun 3, 2017, 08:48 AM

2. Remember 45's net worth not based on actual assets

I remember reading somewhere that he considers his "brand" to be worth something like 3 billion. The rest is based on inflated property value--which is weighed down by both on the books and off the books debt.

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Response to Buckeyeblue (Reply #2)

Sat Jun 3, 2017, 08:52 AM

3. I heard that too!

My point was who would want to business with these buffoons?

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Response to imanamerican63 (Reply #3)

Sat Jun 3, 2017, 08:56 AM

5. No one but the Russians

Previously I think people thought the name might help. But those days are long gone.

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Response to Buckeyeblue (Reply #2)

Sat Jun 3, 2017, 08:54 AM

4. I'm think that his actual NET worth is probably in the negative numbers.

Which is probably why he doesn't want to show his tax returns.

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Response to imanamerican63 (Original post)

Sat Jun 3, 2017, 09:47 AM

6. Trump's net worth

relies on fuzzy math.

His golf club in New York, for example. When it comes time to pay taxes on it, he said it was worth only 1.3 million. His financial disclosure form said the same property was worth 50 million. When that became public he raised it to 9 million. Which is still well below the 15 million estimated by the town. He does this with all his properties.

He skims money off business deals. He made a deal with NYC to build the Grand Hyatt. He was to return a percentage share of the profits. His team used his fuzzy math technique and short changed the city of over 3 million.

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Response to mercuryblues (Reply #6)

Sat Jun 3, 2017, 11:32 AM

7. Nobody should ever trust him to pay his debts.

Any business that does work for him is plainly stupid.

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Response to imanamerican63 (Original post)

Sat Jun 3, 2017, 11:43 AM

8. In reality, we really do not know how much money or total debt either family has -

In both cases, the perception that they have big assets is what allows them to get gigantic loans - even after, in Trump's case, he has had several bankruptcies of his businesses (note not his personal finances) where people who bought into his brand, lost tons of money. That is why several articles hint, or say, that he could not get loans from most reputable banks - thus the rumors of getting funding from the "Russian Mafia".

Clearly, Kushner made a VERY BAD deal and completely over extended his family corporation, that had under his dad, owned tons of NJ apartments. Apparently, the completely overrated Jared Kushner, both became a slum lord by buying properties and tried to be like his father -in -law buying this building.

Consider, that if Trump REALLY had 10 millions net assets, he might have rescued Ivanka's husband and bought him out.

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