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$421 Million in Debt: Trump Calls It ‘a Peanut,’ but Challenges Lie Ahead

Rogue Valley

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$421 Million in Debt: Trump Calls It ‘a Peanut,’ but Challenges Lie Ahead

Canada_Trump_Hotel_78189.jpg

10/16/20
President Trump painted a rosy picture of his financial condition during a televised town hall on Thursday night, calling his hundreds of millions of dollars in debt coming due “a peanut” and saying he had borrowed it as a favor to lenders eager to take advantage of his financial strength. In fact, the loans, and the unusual requirement he had to accept to receive them, illustrate the financial challenges he faces and the longstanding reluctance of banks to deal with him. Mr. Trump had to personally guarantee $421 million in debt, a rare step that lenders only require of businesses that may not be able to repay. The commitment puts his assets on the line and could place his lenders, should he be re-elected, in the position of deciding whether to foreclose on a sitting president. The personal guarantee also speaks to why, despite Mr. Trump’s assertion that banks are eager to lend him money, nearly all the money he borrowed in the last decade came from only two institutions. “When a bank asks for a personal guarantee, it is because the bank isn’t satisfied with the creditworthiness of the borrower,” said Richard Scott Carnell, who served as assistant secretary for financial institutions at the Treasury Department under President Bill Clinton and teaches law at Fordham University. “If the captain gives a personal guarantee for the ship, he will be less likely to sink it.”

Mr. Trump was asked about the debt in response to an investigation by The New York Times published last month based on a review of more than two decades of his tax-return data. The investigation found that Mr. Trump had personally guaranteed $421 million of his companies’ debts, with more than $300 million coming due within four years. The Times also found evidence that Mr. Trump might have difficulty repaying or refinancing the loans without liquidating assets. His main source of income in recent decades — a total of more than $427 million from entertainment and licensing deals that were fueled by his fame — has all but dried up. That cash enabled a buying spree of failing golf courses, and propped up those businesses as their losses mounted. In recent years, Mr. Trump has burned through most of the cash, stocks and bonds at his disposal and has recently explored the sale of some of his holdings, including the Trump International Hotel in Washington. The bulk of the debt appears to be owed to Deutsche Bank, one of the few lenders that would do business with Mr. Trump in the last decade, even after he defaulted on past loans. Deutsche Bank is the only mainstream financial institution that has been consistently willing to do business with Mr. Trump. And even that lender has required him to personally guarantee what he has borrowed.

Trump's largest creditor, Deutsche Bank, has been investigated for money laundering and in 2017 paid a $7.2 billion fine for the sale of toxic mortgage securities in the run-up to the 2008 financial crisis.

It is highly dangerous when the president of a nation owes $421 million to creditors. In addition, Trump owes another $447 million to unknown entities.....

 
$421 Million in Debt: Trump Calls It ‘a Peanut,’ but Challenges Lie Ahead

Canada_Trump_Hotel_78189.jpg



Trump's largest creditor, Deutsche Bank, has been investigated for money laundering and in 2017 paid a $7.2 billion fine for the sale of toxic mortgage securities in the run-up to the 2008 financial crisis.


It is highly dangerous when the president of a nation owes $421 million to creditors. In addition, Trump owes another $447 million to unknown entities.....


It is quite telling how you and the rest of the left have no idea what causes debt as you have no understanding of the line items in the budget that has created the deficits thus the debt. I have a suggestion for you radical liberals who are so anti Trump that it is unhealthy.

 
It is quite telling how you and the rest of the left have no idea what causes debt as you have no understanding of the line items in the budget that has created the deficits thus the debt. I have a suggestion for you radical liberals who are so anti Trump that it is unhealthy.


Suggestion for you, read the Forbes article I included.
 
$421 Million in Debt: Trump Calls It ‘a Peanut,’ but Challenges Lie Ahead

Canada_Trump_Hotel_78189.jpg



Trump's largest creditor, Deutsche Bank, has been investigated for money laundering and in 2017 paid a $7.2 billion fine for the sale of toxic mortgage securities in the run-up to the 2008 financial crisis.

It is highly dangerous when the president of a nation owes $421 million to creditors. In addition, Trump owes another $447 million to unknown entities.....

So he is an NBA. A NeedABillionare.
 
It is quite telling how you and the rest of the left have no idea what causes debt as you have no understanding of the line items in the budget that has created the deficits thus the debt. I have a suggestion for you radical liberals who are so anti Trump that it is unhealthy.

This has nothing to do with government and everything to do with trump personally. But nice try in defending him.
 
This has nothing to do with government and everything to do with trump personally. But nice try in defending him.

No what Trump has done personally is give us the best economy of any President in history pre pandemic and when the leftwing governors open their states conservative policies implemented by Trump will get us back to those incredible results that even now have 56% in Gallup saying they are better off than 4 years ago. You are like far too many liberals living in a liberal bubble where nothing really affects you and you show that typical liberal compassion for those suffering now NONE! You have never told us what you expect from a Biden/Harris Administration and how that betters the American people. Not surprising because it doesn't
 
No what Trump has done personally is give us the best economy of any President in history pre pandemic and when the leftwing governors open their states conservative policies implemented by Trump will get us back to those incredible results that even now have 56% in Gallup saying they are better off than 4 years ago. You are like far too many liberals living in a liberal bubble where nothing really affects you and you show that typical liberal compassion for those suffering now NONE! You have never told us what you expect from a Biden/Harris Administration and how that betters the American people. Not surprising because it doesn't
And you actually believer fifty six percent are better off? I don't and pre pandemic days don't matter. There has been a bill to help out the american people sitting on mitch's desk for months. Is it our fault he won't bring it to the floor for a vote?
 
$421 Million in Debt: Trump Calls It ‘a Peanut,’ but Challenges Lie Ahead

Trump's largest creditor, Deutsche Bank, has been investigated for money laundering and in 2017 paid a $7.2 billion fine for the sale of toxic mortgage securities in the run-up to the 2008 financial crisis.

It is highly dangerous when the president of a nation owes $421 million to creditors. In addition, Trump owes another $447 million to unknown entities.....

I've been thinking that too, about the leverage such a debt could give a foreign power.

But then my question is, why didnt they take advantage of it since he's been in office? Or if they did...on what issue or actions?

He's failed on pretty much everything. Or...was that what "they" wanted? Meh, that reason seems too insubstantial to me.
 
And you actually believer fifty six percent are better off? I don't and pre pandemic days don't matter. There has been a bill to help out the american people sitting on mitch's desk for months. Is it our fault he won't bring it to the floor for a vote?

How has the Trump economic policies hurt you and your family? You one of those liberals paying high state and local taxes and pissed off because they are no longer fully deductible? Getting sick and tired of supporting you by having to pay higher federal taxes because I don't have the high state and local taxes to deduct like you used to have

Pandemic results are controlled by the governors, not the President. Your lack of understanding of even basic civics is staggering as once again you show nothing but partisan ignorance. by the way, take a couple of these for your unhealthy attitude

 
How has the Trump economic policies hurt you and your family? You one of those liberals paying high state and local taxes and pissed off because they are no longer fully deductible? Getting sick and tired of supporting you by having to pay higher federal taxes because I don't have the high state and local taxes to deduct like you used to have

Pandemic results are controlled by the governors, not the President. Your lack of understanding of even basic civics is staggering as once again you show nothing but partisan ignorance. by the way, take a couple of these for your unhealthy attitude

I live in florida, no state tax. Next.
 
I live in florida, no state tax. Next.

Your ideology apparently prevents you from answering the direct question, what exactly has Trump's economic policies done to hurt you and your family? Tell me how anyone living in Florida can support the Biden/Harris agenda and Harris being a heartbeat from the Presidency? I find the left and people like you incapable of debating issues and offering a valid reason to vote FOR Biden/Harris? Who do you think is going to fund their proposals?
 
Your ideology apparently prevents you from answering the direct question, what exactly has Trump's economic policies done to hurt you and your family? Tell me how anyone living in Florida can support the Biden/Harris agenda and Harris being a heartbeat from the Presidency? I find the left and people like you incapable of debating issues and offering a valid reason to vote FOR Biden/Harris? Who do you think is going to fund their proposals?
You seem to be a one trick pony. You like talking about the federal debt & deficit, and every post in this thread from you is on this topic...but that is not what this thread is about! It's about Trump's personal debt.
 
I would give anything if you ceased your habitual "whataboutism" posting.

So from that treasury link tell us exactly what line items created the pre pandemic deficits? Can't or won't do it?
 
You seem to be a one trick pony. You like talking about the federal debt & deficit, and every post in this thread from you is on this topic...but that is not what this thread is about! It's about Trump's personal debt.

How do you know what Trump's personal debt is and why does that matter to you?
 
How do you know what Trump's personal debt is and why does that matter to you?
I can only go by what is reported, and he admits to at least $421M in debt. That much debt makes him a mark to influencers who could help him pay his debts for return favors.


Why is debt a problem?
In short, individuals who have excessive and/or delinquent debt are seen to be a greater security risk than those who are more financially stable. The U.S. government has had problems in the past with security clearance holders leaking secret information, either because they were offered a monetary bride, or were financially blackmailed for information. As such, the federal government has established guidelines to red-flag prospective and current federal employees, military personnel and contractors.
 
Facts only confuse Trumpsters.

Right, facts confuse those of us who like and promote the private sector that helped me take care of my family and a lot of people in need of charity for 35 years. What is your resume and Biden's

Why is debt a problem here?? Because you haven't uncovered the root of the problem not addressed it, raising taxes on the 50% of the American workers who actually pay taxes so that the other 50% can live off them doesn't make a lot of sense. Debt is a problem that you have to address by cutting spending in the areas that truly have created the debt, entitlement spending which Biden wants more of. If you are concerned about the debt why support Biden as if his tax policies of only taxing those making over 400,000 per year is going to generate the trillions required to fund his proposals. You worry more about "paying" for tax cuts than paying for the expenses associated with liberal economic policies. There isn't enough money that you can take from the rich to fund the liberal spending appetite
 
I can only go by what is reported, and he admits to at least $421M in debt. That much debt makes him a mark to influencers who could help him pay his debts for return favors.


Biden will never have to worry about debt as he is a multi millionaire public servant who created his wealth due to programs like influence selling to Ukraine business through his son. Trump doesn't need help competing in the private sector, Biden needs help in creating a public sector liberal utopia where someone else pays for your personal responsibility issues. Explain to me why you should fund my personal responsibility issues and vice versa?
 
Biden will never have to worry about debt as he is a multi millionaire public servant who created his wealth due to programs like influence selling to Ukraine business through his son. Trump doesn't need help competing in the private sector, Biden needs help in creating a public sector liberal utopia where someone else pays for your personal responsibility issues. Explain to me why you should fund my personal responsibility issues and vice versa?
Trump is the king of bankruptcy


He wants to do the same for America
 
Biden will never have to worry about debt as he is a multi millionaire public servant who created his wealth due to programs like influence selling to Ukraine business through his son. Trump doesn't need help competing in the private sector, Biden needs help in creating a public sector liberal utopia where someone else pays for your personal responsibility issues. Explain to me why you should fund my personal responsibility issues and vice versa?
I don't debate straw men arguments.
 
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