The Trump Organization Appears To Be On Verge Of Complete Financial Collapse

[babylonsister]

http://deepleftfield.info/the-trump-organization-appears-to-be-on-verge-of-complete-financial-collapse/?fbclid=IwAR2pdPQp-opjGzgEZllIoYBGmxv7hKGAxg7LGgoUPWCmtkqQZGGg7TrtzUQ

The Trump Organization Appears To Be On Verge Of Complete Financial Collapse
Posted on April 18, 2020 by Andrew Bradford

The Trump Organization, like so many American businesses these days, is experiencing a tremendous downturn in revenues, and because the president’s family company is heavily leveraged and owes millions in payments for loans it has taken out, could be on the verge of total financial collapse and the seizure of its assets, according to the New York Times:

“Representatives of Mr. Trump’s company have recently spoken with Deutsche Bank, the president’s largest creditor, about the possibility of postponing payments on at least some of its loans from the bank.

“And in Florida, the Trump Organization sought guidance last week from Palm Beach County about whether it expected the company to continue making monthly payments on county land that it leases for a 27-hole golf club.”

Many of the Trump properties are hemorrhaging money, estimated to be several millions of dollars a day, even though the company has left some hotels and clubs open, despite the call by medical experts to close all such gathering places to slow the spread of COVID-19 across the country.

Creditors are somewhat reluctant to make a big deal out of the payments they’re owed, but can only let the matter go on for so long before taking further action, which could include foreclosure and seizure of assets, the Times notes:

“Because of his history of defaults and bankruptcies, Deutsche Bank insisted that Mr. Trump provide personal guarantees on those loans, meaning that the bank has recourse to his personal assets if he were to stop paying back the money.

“Deutsche Bank executives have been fretting about what would happen if he were to default, according to bank officials. Seizing the president’s personal assets would be an unattractive proposition. But opting not to collect on the loans would be the equivalent of an enormous financial gift to Mr. Trump.”

At the present time, it’s believed Trump owes Deutsche Bank approximately $350 million. The German bank has loaned an estimated $2 billion to the Trump Organization since 1998. It’s one of the few banks that has taken a chance on Trump despite his history of defaulting, which has led some to suggest a foreign government or agency (Russia? Organized crime?) might be guaranteeing the loans in exchange for laundering money through real estate purchases from Trump’s company.

One thing seems certain: The Trump Organization is in a deep hole, and there doesn’t seem to be a way it can dig itself out unless a major investor comes along and pays all of the company’s debts. If that should happen, it’ll be interesting to see who takes that much of a chance on a failing entity.

[Pachamama]

1. Nah.... they were already cooking the books to appear solvent...But they will definitely try to gets

[Bernardo de La Paz]

3. His minions may be dissolving the books in solvent. . . . nt

[unblock]

2. I'm sure he's sucking money out if it while he can.

This is his speciality. Leaving other people holding the bag.

He'll make loads of money go to other entities he owns then declare bankruptcy. It's called fraudulent conveyance, but there are ways to get away with it in many cases, starting with not filing for bankruptcy until 90 days have passed. Creditors can still sometimes claw back the money, but in practice it can be very difficult to actually collect.

[brush]

4. What's not to like? He can lose everything, lose the election and go to jail. Woohoo!

[Buckeyeblue]

5. That explains his current behavior

He is trying to save the farm. How embarrassing would it be if he had to declare bankruptcy.

I can't wait.

[42bambi]

10. This makes me happy to read! Am I a bad person? Giggle.

[vapor2]

6. I can bet he has had Mnuchin direct that $500 billion

to his properties etc

[Chrisdutch]

7. Brother can you spare a dime

Trump needs to dig up the 27 cents he owes Mnuchin in a hurry.

[UTUSN]

8. Be still, my heart!

[sheshe2]

9. Welp.

[Blue Owl]

11. Womp Womp

[keithbvadu2]

12. Eric Trump in 2014: 'We have all the funding we need out of Russia

Eric Trump in 2014: 'We have all the funding we need out of Russia ...

https://www.google.com/search?client=firefox-b-1-d&q=erik+trump+money+from+russia

[not_the_one]

13. I'd bet he is actively moving money out of the country, probably to Saudi Arabia.

He knows this can't go on forever, and he is afraid of Putin. Jared helped the Saudi's with the murder and dismemberment situation, so they have his back. They also have no extradition treaty with the US.

The skanks (Iva and Mel) probably think burkas are "tres chic". Gold lame and eliminate the face mask, and ooo lalalalalala!!!

[BGBD]

14. Umm......

"The Trump Organization is in a deep hole, and there doesn’t seem to be a way it can dig itself out unless a major investor comes along and pays all of the company’s debts. If that should happen, it’ll be interesting to see who takes that much of a chance on a failing entity".

Gee....that doesn't look like an obvious potential way to compromise the President.

On a more humorous note, wouldn't it be funny if Jeff Bezos found a way to take over the Trump Organization. I mean, if I have $116 billion, buying another mans company for spite is probably something I would do.

Is there a chance Trump could lose Mar-a-Lago?

[Downtown Hound]

15. It's okay. Trump says we will be down to zero cases

in a few days.

[Gothmog]

16. trump is not a bilionaire

[lindysalsagal]

17. babylon: You are often the bearer of good news!!!

Oh, uh, Thoughts and prayers. Ahem.