Pulitzer Prize winner explains latest bombshell on Trump turning debt into cash

[DonViejo]

https://www.rawstory.com/2018/05/money-nothing-pulitzer-prize-winning-reporter-explains-latest-bombshell-trump-turning-debt-cash/

[SWBTATTReg]

1. For a guy who's declared bankrupcy multiple times, how did RUMP get the cash? And, where from?

Did he defraud the banks and other lenders when he declared bankruptcy multiple times? If RUMP had so much cash on hand, he could have avoided bankruptcy probably.

Even a bank or other lender would wonder where the cash came from, so Mueller isn't barking up the wrong tree as RUMP seems to be claiming.

Sounds like fraud to me.

[Jim Lane]

7. Trump has never declared personal bankruptcy.

On several occasions, companies he controlled have filed for bankruptcy. (I think it's six bankruptcy filings by four different companies but I'm not sure of the details.)

The whole point of limited liability (in a corporation or an LLC) is that the people who stand to benefit from the profits are not on the hook for any losses beyond what they invested. Even if one of Trump's companies has "Trump" in its name and owns a Trump-branded casino, that company's bankruptcy doesn't obligate Trump to put up additional money to bail it out.

A different lender on a different deal isn't necessarily being defrauded. A loan officer might say, for example, "Trump got the money to build the Taj Mahal casino by selling junk bonds that paid high interest rates. The casino's operating profits weren't enough to pay the interest. The bankruptcy caused a loss to the pigeons who were stupid enough to buy those bonds because they were bedazzled by the 'Trump' name and they didn't pay enough attention to market conditions in Atlantic City. We, however, are being asked to lend money for a different venture, with a different business plan and different prospects, and we've concluded that this deal makes sense."

Of course, at some point the deals stop making sense, or even appearing to. Despite Trump's relentless self-promotion, he's not actually a business genius with a Midas touch. Before he was elected, he had worn out his welcome with quite a few bankers in the United States -- possibly all of them.

[Sneederbunk]

2. Comrades hold the answer

[CatMor]

3. I doubt he would use his own money even if he still had it...

most likely involved in something like money laundering or shady dealings. How he keeps getting away with illegal activities defies logic.

[Nitram]

4. Yup, a combination of money laundering and kompramat.

The Russians got him coming and going.

[CatMor]

5. How he hasn't been caught at it is amazing....

it must be hidden from the IRS some way. The IRS gets people for not reporting 1.00 in interest yet trump gets away with being as crooked as anyone could possibly be.
Lock him up!!

[Gothmog]

6. From David Farenthold

Link to tweet

Link to tweet

Link to tweet

Link to tweet