Kurt Eichenwald: The Trump Org is in deep, deep trouble. And not because of the criminal charges.

[JHB]

https://threadreaderapp.com/thread/1410676547124707336.html

As someone who has written for decades about corporate crime, I was reading the Trump O/Weisselberg indictment going, "Yah, ok..hmm..yah..ok..Wait..HOLY SHIT!" The Trump Org is in deep, deep trouble. And not because of the criminal charges. Because of its bank loan covenants.../1
...in fact, if even the smallest bit of this case is true, I think the Trump Org could be dead. It's complicated, but it primarily pertains to the 12th count of the indictment.

***

...Forget Weisselberg. That is every every corporate defendant, every entity that could have a loan covenant in its name. Every Trump Org bank lender in the world, right now, is looking at this indictment, looking at their covenants, and calling the Trump Org demanding.../12
...they turn over every relevant book and record pertaining to these issues. If they refuse...BOOM. Loans pulled. If they do and the banks don't like what they see...BOOM. Loans pulled. If the loans come due (which 100s of millions do next year) no way they get refinanced..../13
...there may be something I am missing here, but I do not see how the Trump Org survives this without some sort of corrupt deal overseas. But even that seems far-fetched. Instead, it may be the biggest real estate corp bankruptcy in history..../14

Original tweet:

Link to tweet

[patphil]

1. The Trump Organization is a house of cards.

It won't take much to knock it down.

[Blue Owl]

20. Oops...

[LiberalFighter]

28. Good time to be a cat.

[Bernardo de La Paz]

26. How sketchy have Melanoma's financial dealings been? She was in on that $100 million inauguration.nt

[lame54]

2. I won't be happy till...

I see Jr. drunk on toilet wine

[JHB]

5. Geez, it that's all you need then just follow him on Twitter.

I mean, he's probably on other stuff there, but you'll never have the chance to actually see a Jr. toilet wine bender.

[lame54]

6. That's him being drunk on the good shit...

High dollar hooch is what he grew up on

[JHB]

7. High dollar crap. He's the type who mistakes price tag for quality.

Rotgut in fancy bottles is still rotgut, but quality has never been a Trump value.

[Me.]

3. Lips To Ears

[Eliot Rosewater]

4. It all depends on if Putin thinks he is still valuable, if so he will be loaned billions more

and I firmly believe he owes putin billions now.

If you support rump you are a traitor and a physical enemy of the human race.

[dixiechiken1]

16. I'd be willing to bet that TFG's outlived his usefulness to Putin.

Maybe he'll invite him over for tea...

[lastlib]

23. ...and a polonium sammich. On the fourth floor balcony...... n/t

[Hekate]

8. Sweet, sweet music to my ears

[LetMyPeopleVote]

9. For this thread

Kurt does not see how the Trump Org survives this without some sort of corrupt deal overseas. I tend to agree

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[Pinback]

15. Thanks for the additional detail.

K.E. is doing an excellent job with this.

[no_hypocrisy]

10. Gee, this is like the ending to "Trading Places"!

[triron]

24. Really a spectacle.

[TeamProg]

11. I like the sound of that !!

A LOT.

[RainCaster]

12. He's wrong, it's not count 12, but count 15

12 was about falsified personal taxes, 15 was about other business papers and documents.

[BigBearJohn]

13. I'm not religious, but Praise the Lord!!!!!

[Pinback]

14. Probably the best analysis of the current state of play in this case I've seen.

Trump’s been borrowing from Peter to pay Paul over and over and over. When Paul says “Pay up now,” and Peter says, “I’m not lending you another dime,” the whole series of mirages shimmers and disappears.

This is the real story. I look forward to Eichenwald’s reporting about this in the Post tomorrow. Thanks for this.

[Stuart G]

17. This Trump downfall will his greatest ever...

...Clearly his best in show of all shows....And if someone does not help him (whoever that could be?)
Then the fireworks will be truly special: bankruptcy, divorce, and much more...Imagine if you can,
the end of a huge mountain of ...SH*T comes falling down on Donald Trump. The largest mountain
that you can imagine. He cannot blame Democrats, but he will, and guess who is the leader of
the Trump organization...It ain't me, or Pelosi, or Obama, or Biden...but guess who?........

Someone said Donald T approved everything...I didn't say that, and Biden didn't say that...some insider
said that.....How could this happen to the liar and the crier...named Donald Trump?:.

[captain queeg]

18. He thinks he can just ignore all of this and lie like he always has

“Believe me” is not going to cut it. The physical books are there for evidence.

[lindysalsagal]

19. As in a great novel, his character defect, malignant narcissism, will be his own downfall.

[SleeplessinSoCal]

21. He's been very good tp a lot of very bad billionaires

...foreign and domestic.

I guess this is payback time all round.

[NoMoreRepugs]

22. I'm reaching out to the Universe and asking for this

to happen. I have nothing to offer but I do think I’m not alone.

[lastlib]

25. tRump Org. is going to be shredded by the time this is over.

No bank is going to lend it money, existing loans will be called, assets will have to be sold at fire prices....I think eventually, Donny will be forced to live in one of Jared's slum tenements, with PEONS, and that will break him. The stress of all the prosecutions and the threat of prison will crush him--financially, physically, mentally, and emotionally--I foresee him being a shell in a cell, and that is profoundly gratifying!

[SeattleVet]

27. "biggest real estate corp bankruptcy in history"

and he'll probably brag about that, too!

"Once again, I'm the biggest in history!"

[bucolic_frolic]

29. Read the whole tweet, among the most powerful I've ever seen

This is the good stuff, the whole ball of wax.