General Discussion

GopherGal

(2,927 posts)

25. Isn't he protected by incorporation?

Wed Nov 28, 2018, 12:16 AM

Nov 2018

I don't know a lot about it, but I suspect that in that bragging, he's conflating his personal wealth with his business's assets.
The loans bring cash into his business. He pays himself a salary from the business. Business defaults on the loan, but his personal wealth is protected.

Of course, when we're talking about the less savory lenders, those guys aren't forgiving any debts just because legally the liability belongs to a company that declared bankruptcy...

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Trump Has No Real Assets. He Lives Through Debt. [View all] MineralMan Nov 2018 OP

All these transactions he brags about, 40 million dollar apartments sold to Saudi's etc Eliot Rosewater Nov 2018 #1

Trump is now selling influence. MineralMan Nov 2018 #5

Isn't he protected by incorporation? GopherGal Nov 2018 #25

The old saying is unfortunaltely true DFW Nov 2018 #2

Along with its corollary: Buns_of_Fire Nov 2018 #17

And so who was more stupid? DFW Nov 2018 #18

I think we're talking about Justice Anthony Kennedy libdem4life Nov 2018 #30

The timing of Kennedy's departure is itself worth an in-depth investigation DFW Nov 2018 #37

Yes.There is definitely something there...but in the scope of things? libdem4life Nov 2018 #38

Another version: if you owe the bank fifty thousand dollars, the bank owns you. tblue37 Nov 2018 #43

We'll soon find out when Maxine Waters gets his tax returns. vlyons Nov 2018 #3

Technically it's not Maxine Waters that will get them Calista241 Nov 2018 #12

So, does that debt pass to his wife/kids or just evaporate, when he's gone? Siwsan Nov 2018 #4

Passes, I think. But they'll just do the same thing. MoonRiver Nov 2018 #6

It is incomprehensible, to me Siwsan Nov 2018 #8

He learned at the knee of his Nazi daddy, master of all things con and criminal. MoonRiver Nov 2018 #20

Becky Sharp lives one step ahead of her debt in "Vanity Fair." nt tblue37 Nov 2018 #44

True Siwsan Nov 2018 #45

I don't know, to tell you the truth. MineralMan Nov 2018 #9

Personal debt isn't inherited. The Velveteen Ocelot Nov 2018 #27

He has admitted as much. Caliman73 Nov 2018 #7

trump's word is worthless and so traditional lenders will not lend to him Gothmog Nov 2018 #36

Darn we do see Wellstone ruled Nov 2018 #10

I don't doubt it. It needs to be totally exposed. LiberalFighter Nov 2018 #11

So he is the personification of the Ponzi Scheme.. Dyedinthewoolliberal Nov 2018 #13

Yeah, pretty much. MineralMan Nov 2018 #14

Excellent book title..get busy writing SoCalDem Nov 2018 #15

I don't have enough knowledge to write that book. MineralMan Nov 2018 #16

There are other legal structures that are easier than Ponzi schemes Gothmog Nov 2018 #35

Unfortunately, he's running the country in the same way. Vinca Nov 2018 #19

Yes. And his tax cuts for the wealthy was him skimming off the top lunatica Nov 2018 #21

How? ProfessorGAC Nov 2018 #39

Like I said lunatica Nov 2018 #40

But The Debt Still Exists ProfessorGAC Nov 2018 #41

The debt works for him lunatica Nov 2018 #42

Well, I Get That ProfessorGAC Nov 2018 #49

"Die before everything comes due..." jcgoldie Nov 2018 #22

The Art of the #CrookedDeal Blue Owl Nov 2018 #23

+1000 Power 2 the People Nov 2018 #24

So how does that work out if you have to do all your business from prison? Kablooie Nov 2018 #26

He increases his debt because he never pays his debts True_Blue Nov 2018 #28

He's a money launderer. A HERETIC I AM Nov 2018 #29

Supposedly in his will he leaves $300 million to each of his kids FakeNoose Nov 2018 #31

+1. Most real estate promoters I've seen are always looking for the next deal and loans. Hoyt Nov 2018 #32

In this case, a margin call is now required Just a Weirdo Nov 2018 #33

We need to see the trump's tax returns Gothmog Nov 2018 #34

How come Clinton did not mention a word of this in the 2016 campaign? former9thward Nov 2018 #46

What would she have said? MineralMan Nov 2018 #48

He lives off unofficial Russian debt Buckeyeblue Nov 2018 #47