Trump forgives $50 million in loans to his campaign: Trump finance chief

[Miles Archer]

Source: CNBC

Donald Trump has forgiven $50 million in loans he made to his campaign, and fundraising efforts have kicked into high gear, his national finance chairman told CNBC on Thursday.

&quot Trump) loaned $50 million to the campaign. He's now forgiven that loan. So that is a contribution," said Steve Mnuchin. "[Trump] has also said he will contribute significantly more money."

"We just forgave the loan this week," Mnuchin added in a "Squawk Box" interview.

Trump was severely lagging last month in efforts to raise money compared with Democratic rival Hillary Clinton, according to the latest filings with Federal Election Commission made public this week.

Read more: http://www.cnbc.com/2016/06/23/trump-forgives-50-million-in-loans-to-his-campaign-trump-finance-chief.html

[LynneSin]

1. Maybe he should forgive all the loans taken for Trump University - it would be cheaper

[BumRushDaShow]

2. The FEC

will probably need years of analysis to determine what is happening with the money associated with this campaign.

[lark]

3. So, the campaign is a tax write off?

Is that part of what he's doing? I really know nothing about campaign financing, so please forgive my ignorance.

[BumRushDaShow]

5. I wouldn't be surprised if he tried that!

[lark]

6. Yes, that's why I asked that question.

He's such a douche, I'd put nothing past him.

[BumRushDaShow]

8. He's been paying himself

and his family a monthly stipend, as well as directing money to his hotels and other companies out of his fund-raised money as it is.

[L. Coyote]

22. ^^^ THIS ^^^ and an income source too, because he pays himself a salary for running.

[rurallib]

27. ain't supposed to be

[bemildred]

4. Well heck, I just forgave myself $100 million in loans, let's see him top that. nt

[Kelvin Mace]

7. Well, not to brag

but I forgave $2.7 quadrillion I lent the cat last week.

She is TERRIBLE with money.

[bemildred]

9. LOL.

[Bradical79]

12. Forgiving debt is for suckers.

I loaned myself a few grand at 200% interest. If I don't get paid back by Tuesday, I might have to break my kneecaps to teach myself a lesson.

[Kelvin Mace]

13. Yeah, but the cat knows where I live

and no one wants to climb into bed and lay on a fresh hairball.

[Bernardo de La Paz]

10. It's not money that has been spent. Trump's campaign spent most or all of the $50 million.

I get that you are joking, but it doesn't work because it is not comparable. The one is real money, the other is not.

[Vincardog]

11. Most of that money was 'spent' at tRmp properties for example paying tRump $400,000 rent for his own

Home.

[Bernardo de La Paz]

14. "Only" $6 million, but that is required by law. But the fees charged seem to be inflated.

When a business property is used, fees must be charged, by election law, if I understand a report I read.

tRump's home is probably arranged as a business property that he rents from his own company. Not dodgy until a situation comes up like this, and then questions start being asked. I don't know many answers.

[Vincardog]

15. The point is it is easy to forgive debts one has to themselves. The donald is running another con.

[IronLionZion]

16. Mar A Lago isn't actually a home to live in

He uses it as a resort where guests pay to stay there or rent it for events.

[Bernardo de La Paz]

23. Exactly. But $400 K for one night is exhorbitant. Makes me think of Palin's $250 K bill for dresses.

[47of74]

20. I wonder how long it'll be until Soverign Citizens try that.

Forgiving loans one of their other multiple personalities had taken out.

Makes me think of this.

[bemildred]

21. Disguised self-dealing is actually kind of normal in US business circles.

One of the many uses for off-shoring: anonymous counter-party for ones gifts to oneself in the form of "business deals", since a "business deal" is automatically a good thing.

[IronLionZion]

17. He loans money to his campaign, which spends it on his businesses

it seems like some sort of money laundering scheme.

Don't they have campaign financing rules about how much a billionaire can donate directly to his own campaign?

[wiggs]

18. He'll get it back. nt

[yellowcanine]

19. Maybe he will have to sell a golf course. I am sure the Scots would love to help him out there.

[applegrove]

24. Trump has continually folded in the last few days. Folding Trump should be his nickname.

[Miles Archer]

25. Only if we can use an " ' "

Foldin' Trump.

Like Lyin' Ted.

There...I like that much better. Makes it more like karma or poetic justice.

[applegrove]

26. I like it.