New report suggests Donald Trumps debts are $1.5 billion higher than previously indicated

[DonViejo]

The president-elect has declared $315 million of debt, but the actual amount may be five times higher

MATTHEW ROZSA

President-elect Donald Trump may have declared that he has $315 million of debt owed to ten separate lenders, but a new report suggests that his conflicts of interest in this regard could be much, much higher.

A new report by The Wall Street Journal suggests that, when you include businesses in which Trump has at least a 30 percent stake, the president-elect’s companies owe roughly $1.5 billion in additional debt to more than 150 institutions. Most of that debt has been repackaged and purchased by investors.

His debtors include Wells Fargo & Co, a bank which is under investigation for fraudulent practices including opening up to two million accounts without the knowledge or consent of their customers. The report claims that Wells Fargo is the trustee or administration of $282 million of loans to Trump and his companies, as well as $950 million of debt paid to a property partly owned by the president-elect. He also owes money to JP Morgan, BlackRock, Deutsche Bank and Prudential.

“The problem with any of this debt is if something goes wrong, and if there is a situation where the president is suddenly personally beholden or vulnerable to threats from the lenders,” said Trevor Potter, a former legal adviser to George H. W. Bush and John McCain, to The Wall Street Journal.

Lawrence Noble, a former lawyer to the Federal Election Commission, echoed these sentiments. “The appearance of potential conflicts is dangerous and seriously exists in this situation.”

more
http://www.salon.com/2017/01/11/new-report-suggests-donald-trumps-debts-are-1-5-billion-higher-than-previously-indicated/

[hunter]

1. See! He really is a billionaire!

[SharonAnn]

2. I think he's 'juggling plates" to stay afloat. if it stops, he's bankrupt.

[drray23]

3. Which means he is trapped

He cant divest of his assets as he should before becoming president because he is in the red. Its basically only surviving with constant infusuons of cash from foreign investors like russia. If he was to sell off it would not cover all his debts.

[roamer65]

4. You can't default on debt to the Russian mob.

[Locrian]

5. donald trump a bought and paid puppet - n/t

[nolabels]

6. Many times it's easy to tell when someone is in this predicament.

It's also like one doper, gambler or alcoholic can tell when they have met another. It is a mannerism thing and the things that get left out help to connect the dots.

I have a boisterous coworker who seems like Donald's twin brother in the way he approaches things. I would never have suspected it could be so enlightening

If the world lives past this guy's tenure they may finally know something a little more concretely about psychology and how it might affect them personally.