How Trump Maneuvered His Way Out of Trouble in Chicago

[George II]

When his skyscraper proved a disappointment, Donald Trump defaulted on his loans, sued his bank, got much of the debt forgiven — and largely avoided paying taxes on it.

Oct. 27, 2020
Updated 5:41 p.m. ET

The financial crisis was in full swing when Donald J. Trump traveled to Chicago in late September 2008 to mark the near-completion of his 92-floor skyscraper.

The fortunes of big companies, small businesses and millions of Americans — including the Trumps — were in peril. But the family patriarch was jubilant as he stood on the terrace of his gleaming glass tower.

“We’re in love with the building,” Mr. Trump gushed. “We’re very, very happy with what’s happened with respect to this building and how fast we put it up.”

He and his family hoped the Trump International Hotel & Tower would cement their company’s reputation as one of the world’s marquee developers of luxury real estate.

(much more....)

https://www.nytimes.com/2020/10/27/business/trump-chicago-taxes.html?smid=tw-share

[northoftheborder]

1. This story makes me spitting mad. How can he keep getting away with this stuff???????????

[George II]

2. He pulled all sorts of crap with the zoning authorities in NYC when he proposed trump tower...

...in exchange for building 10 stories higher (I think that was the number) he was supposed to permit public access to his lobby, the atrium, and other areas of the building, and provide seating for the public.

Periodically he tried to remove the agreed to benches and other amenities and the public areas are poorly maintained.

He is scum.

[myohmy2]

4. "How can he keep getting away with this stuff???????????"

...capitalist system...

...nobody wants to put trump and his game in jail because trump probably knows enough to put them and their game in jail...

...until we get people in positions of authority and power that can't be bought or frightened, the trump's of the world will always win...

...

[gratuitous]

3. It occurs to me . . .

That if the New York Times and the rest of the popular media had spent as much time looking over Donald Trump's business dealings (like this story from 20 fricken 08) as they did "investigating" the Clinton Foundation and those ol' debbil e-mails, we might be at a far different place in this country right about now.

[Frustratedlady]

5. I seem to remember there is $50M in one of his accounts that has never been explained. Where did it

come from, why is it just sitting there, etc. Trump supposedly put in his own money, but won't give more information. He hasn't paid taxes on it. No one can get an answer. It is labeled Chicago LLC or some such.

I suspect it has something to do with this story, but I didn't see it accounted for. Just being nosy.