Trump Had to Borrow Stormy's Hush Money?

[georgephillip]

Is he also lying about his net worth?

According to someone who's covered Trump's performances since the 1980s (David Cay Johnston), this president has never been a billionaire.

Rudy Giuliani’s big reality-show reveal: The “billionaire” in...

"Rudy Giuliani’s big reality-show reveal: The 'billionaire' in the White House is broke
In Giuliani’s appearance with Sean Hannity, he clearly implied Trump had to borrow the Stormy Daniels hush money..."

"As you read what follows keep two thoughts in mind.

"First, would any billionaire need months to pay a $130,000 bill?

"Second, there is not now and never has been a shred of verifiable evidence that Trump is or ever was a billionaire, a myth I first demolished using his own net worth statement prepared for a lawsuit in spring 1990.

"Trump called me a liar back then for four months until he had to put into the public record his bankers’ assessment of his riches.

"The bankers calculated that Trump was worth a negative $295 million."

 

[Godboy]

Damn, negative $295 million? He's more poor than I am! Maybe i should look into buying a golden 747 and a few sky scrapers. Actually, seeing how I'm richer than he is, I should buy a 747 made out of a solid diamond. Fuck it, I'm going to splurge on diamond sky scrapers too.

 

[Uncensored2008]

Is he also lying about his net worth?

According to someone who's covered Trump's performances since the 1980s (David Cay Johnston), this president has never been a billionaire.

Rudy Giuliani’s big reality-show reveal: The “billionaire” in...

"Rudy Giuliani’s big reality-show reveal: The 'billionaire' in the White House is broke
In Giuliani’s appearance with Sean Hannity, he clearly implied Trump had to borrow the Stormy Daniels hush money..."

"As you read what follows keep two thoughts in mind.

"First, would any billionaire need months to pay a $130,000 bill?

"Second, there is not now and never has been a shred of verifiable evidence that Trump is or ever was a billionaire, a myth I first demolished using his own net worth statement prepared for a lawsuit in spring 1990.

"Trump called me a liar back then for four months until he had to put into the public record his bankers’ assessment of his riches.

"The bankers calculated that Trump was worth a negative $295 million."

Herpaderpaderpity derp derp derp.

Fucking Communists....

 

[MisterBeale]

Of course he's broke.

 

[xband]

Damn, negative $295 million? He's more poor than I am! Maybe i should look into buying a golden 747 and a few sky scrapers. Actually, seeing how I'm richer than he is, I should buy a 747 made out of a solid diamond. Fuck it, I'm going to splurge on diamond sky scrapers too.

Trump 1 is a Boeing 757 which takes huge money to fly. Air Force 1 is a Boeing 747 which he rides around for free when in office. Make all of the big wigs fly around in a puddle jumper.

 

[georgephillip]

Damn, negative $295 million? He's more poor than I am! Maybe i should look into buying a golden 747 and a few sky scrapers. Actually, seeing how I'm richer than he is, I should buy a 747 made out of a solid diamond. Fuck it, I'm going to splurge on diamond sky scrapers too.

Trump calls himself the "King of Debt" perhaps to obscure the distinction between massive cash flows and wealth:

Rudy Giuliani’s big reality-show reveal: The “billionaire” in...

"Federal ethics laws are so riddled with loopholes that we have no idea how deeply Trump is in debt.

"Debts owed via partnerships are not reported for example,

"From the unreported debts we do know about, thanks to the diligence of New York Times reporters, we can report that Trump’s net worth is significantly less than $1 billion.

"So just keep asking yourself, and asking others: Have you ever heard of a multibillionaire who couldn’t pay a $130,000 bill and needed a 120-day or longer loan from his lawyer to cover the bill?"

 

[MisterBeale]

Damn, negative $295 million? He's more poor than I am! Maybe i should look into buying a golden 747 and a few sky scrapers. Actually, seeing how I'm richer than he is, I should buy a 747 made out of a solid diamond. Fuck it, I'm going to splurge on diamond sky scrapers too.

It's important to realize though, his net changes drastically year to year.

As the article stated;

"Maybe these comments will get political journalists to stop making a claim that Trump has himself taken back and to look hard at whether his fortune is really just massive cash flow, not wealth. And much of that cash flow may be going to pay interests on debts that, because of loopholes in federal ethics and campaign finance laws, he has not been required to disclose."

He has massive assets and massive liabilities. The key to his fortune, or debt at any particular time, is to make sure the assets are bigger than the liabilities.

Part of his image is to make everyone believe, at all times, that his cash flow, his assets are always larger.

I suspect that they always aren't. Some years they are. .. ..

. . . . . and some years he declares bankruptcy.

 

[Wyatt earp]

Damn, negative $295 million? He's more poor than I am! Maybe i should look into buying a golden 747 and a few sky scrapers. Actually, seeing how I'm richer than he is, I should buy a 747 made out of a solid diamond. Fuck it, I'm going to splurge on diamond sky scrapers too.

It's important to realize though, his net changes drastically year to year.

As the article stated;

"Maybe these comments will get political journalists to stop making a claim that Trump has himself taken back and to look hard at whether his fortune is really just massive cash flow, not wealth. And much of that cash flow may be going to pay interests on debts that, because of loopholes in federal ethics and campaign finance laws, he has not been required to disclose."

He has massive assets and massive liabilities. The key to his fortune, or debt at any particular time, is to make sure the assets are bigger than the liabilities.

Part of his image is to make everyone believe, at all times, that his cash flow, his assets are always larger.

I suspect that they always aren't. Some years they are. .. ..

. . . . . and some years he declares bankruptcy.

and some years he declares bankruptcy.



Prove he personally ever declared bankruptcy.. by you saying that it proves your OP is fake.

 

[georgephillip]

Is he also lying about his net worth?

According to someone who's covered Trump's performances since the 1980s (David Cay Johnston), this president has never been a billionaire.

Rudy Giuliani’s big reality-show reveal: The “billionaire” in...

"Rudy Giuliani’s big reality-show reveal: The 'billionaire' in the White House is broke
In Giuliani’s appearance with Sean Hannity, he clearly implied Trump had to borrow the Stormy Daniels hush money..."

"As you read what follows keep two thoughts in mind.

"First, would any billionaire need months to pay a $130,000 bill?

"Second, there is not now and never has been a shred of verifiable evidence that Trump is or ever was a billionaire, a myth I first demolished using his own net worth statement prepared for a lawsuit in spring 1990.

"Trump called me a liar back then for four months until he had to put into the public record his bankers’ assessment of his riches.

"The bankers calculated that Trump was worth a negative $295 million."

Herpaderpaderpity derp derp derp.

Fucking Communists....

Crony capitalists are the big winners in Trump’s trade war

 

[MisterBeale]

Damn, negative $295 million? He's more poor than I am! Maybe i should look into buying a golden 747 and a few sky scrapers. Actually, seeing how I'm richer than he is, I should buy a 747 made out of a solid diamond. Fuck it, I'm going to splurge on diamond sky scrapers too.

It's important to realize though, his net changes drastically year to year.

As the article stated;

"Maybe these comments will get political journalists to stop making a claim that Trump has himself taken back and to look hard at whether his fortune is really just massive cash flow, not wealth. And much of that cash flow may be going to pay interests on debts that, because of loopholes in federal ethics and campaign finance laws, he has not been required to disclose."

He has massive assets and massive liabilities. The key to his fortune, or debt at any particular time, is to make sure the assets are bigger than the liabilities.

Part of his image is to make everyone believe, at all times, that his cash flow, his assets are always larger.

I suspect that they always aren't. Some years they are. .. ..

. . . . . and some years he declares bankruptcy.

and some years he declares bankruptcy.



Prove he personally ever declared bankruptcy.. by you saying that it proves your OP is fake.

Good point. Are we talking about his personal finances or his corporate organization here?

 

[georgephillip]

"Trump’s four bankruptcies were Chapter 11 reorganizations (named for its location in federal bankruptcy code), which are designed to restructure businesses without shutting them down completely.

"The purpose is to 'save' the business, as opposed to other forms of bankruptcy which would liquidate the company, said Michael Venditto, a partner at the ReedSmith law firm who has extensive experience with Chapter 11..."

"Trump’s four bankruptcies all happened within the past 25 years. That’s a lot, said Stephen Lubben, a leading expert in corporate finance and professor at Seton Hall School of Law. But to be fair, the gaming industry has been struggling the past few years, he added, and three out of four of Trump’s bankruptcies were tied to casinos.

I"t’s not fair to put all the blame on Trump for the four bankruptcies because he’s acting as any investor would. Investors often own many non-integrated companies, which they fund by taking on debt, and some of them inevitably file for bankruptcy, said Adam Levitin, a law professor at Georgetown University."

Fact-checking claims about Donald Trump's four bankruptcies

 

[Wyatt earp]

"Trump’s four bankruptcies were Chapter 11 reorganizations (named for its location in federal bankruptcy code), which are designed to restructure businesses without shutting them down completely.

"The purpose is to 'save' the business, as opposed to other forms of bankruptcy which would liquidate the company, said Michael Venditto, a partner at the ReedSmith law firm who has extensive experience with Chapter 11..."

"Trump’s four bankruptcies all happened within the past 25 years. That’s a lot, said Stephen Lubben, a leading expert in corporate finance and professor at Seton Hall School of Law. But to be fair, the gaming industry has been struggling the past few years, he added, and three out of four of Trump’s bankruptcies were tied to casinos.

I"t’s not fair to put all the blame on Trump for the four bankruptcies because he’s acting as any investor would. Investors often own many non-integrated companies, which they fund by taking on debt, and some of them inevitably file for bankruptcy, said Adam Levitin, a law professor at Georgetown University."

Fact-checking claims about Donald Trump's four bankruptcies

The guy owns ( or owned ) like 120 companys, it's retarded to say he declared bankruptcy ... no rich ass person can micro manage 120 company's he hires other people to do it and bankruptcy is a strategy to use.


Not a big deal

 

[Auld Phart]

"Trump’s four bankruptcies were Chapter 11 reorganizations (named for its location in federal bankruptcy code), which are designed to restructure businesses without shutting them down completely.

"The purpose is to 'save' the business, as opposed to other forms of bankruptcy which would liquidate the company, said Michael Venditto, a partner at the ReedSmith law firm who has extensive experience with Chapter 11..."

"Trump’s four bankruptcies all happened within the past 25 years. That’s a lot, said Stephen Lubben, a leading expert in corporate finance and professor at Seton Hall School of Law. But to be fair, the gaming industry has been struggling the past few years, he added, and three out of four of Trump’s bankruptcies were tied to casinos.

I"t’s not fair to put all the blame on Trump for the four bankruptcies because he’s acting as any investor would. Investors often own many non-integrated companies, which they fund by taking on debt, and some of them inevitably file for bankruptcy, said Adam Levitin, a law professor at Georgetown University."

Fact-checking claims about Donald Trump's four bankruptcies

The guy owns ( or owned ) like 120 companys, it's retarded to say he declared bankruptcy ... no rich ass person can micro manage 120 company's he hires other people to do it and bankruptcy is a strategy to use.


Not a big deal

The guy owns ( or owned ) like 120 companys,

he's listed at having over 500
The Trump Organization - Wikipedia

 

[georgephillip]

"Trump’s four bankruptcies were Chapter 11 reorganizations (named for its location in federal bankruptcy code), which are designed to restructure businesses without shutting them down completely.

"The purpose is to 'save' the business, as opposed to other forms of bankruptcy which would liquidate the company, said Michael Venditto, a partner at the ReedSmith law firm who has extensive experience with Chapter 11..."

"Trump’s four bankruptcies all happened within the past 25 years. That’s a lot, said Stephen Lubben, a leading expert in corporate finance and professor at Seton Hall School of Law. But to be fair, the gaming industry has been struggling the past few years, he added, and three out of four of Trump’s bankruptcies were tied to casinos.

I"t’s not fair to put all the blame on Trump for the four bankruptcies because he’s acting as any investor would. Investors often own many non-integrated companies, which they fund by taking on debt, and some of them inevitably file for bankruptcy, said Adam Levitin, a law professor at Georgetown University."

Fact-checking claims about Donald Trump's four bankruptcies

The guy owns ( or owned ) like 120 companys, it's retarded to say he declared bankruptcy ... no rich ass person can micro manage 120 company's he hires other people to do it and bankruptcy is a strategy to use.


Not a big deal

Trump didn't even bother to learn the odds of the games at his casinos.
Is that your idea of a "big deal"?

"How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions"
https://www.nytimes.com/2016/06/12/nyregion/donald-trump-atlantic-city.html

 

[Wyatt earp]

"Trump’s four bankruptcies were Chapter 11 reorganizations (named for its location in federal bankruptcy code), which are designed to restructure businesses without shutting them down completely.

"The purpose is to 'save' the business, as opposed to other forms of bankruptcy which would liquidate the company, said Michael Venditto, a partner at the ReedSmith law firm who has extensive experience with Chapter 11..."

"Trump’s four bankruptcies all happened within the past 25 years. That’s a lot, said Stephen Lubben, a leading expert in corporate finance and professor at Seton Hall School of Law. But to be fair, the gaming industry has been struggling the past few years, he added, and three out of four of Trump’s bankruptcies were tied to casinos.

I"t’s not fair to put all the blame on Trump for the four bankruptcies because he’s acting as any investor would. Investors often own many non-integrated companies, which they fund by taking on debt, and some of them inevitably file for bankruptcy, said Adam Levitin, a law professor at Georgetown University."

Fact-checking claims about Donald Trump's four bankruptcies

The guy owns ( or owned ) like 120 companys, it's retarded to say he declared bankruptcy ... no rich ass person can micro manage 120 company's he hires other people to do it and bankruptcy is a strategy to use.


Not a big deal

Trump didn't even bother to learn the odds of the games at his casinos.
Is that your idea of a "big deal"?

"How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions"
How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions

I thought you said he was broke, now you are counter dictating yourself

 

[georgephillip]

thought you said he was broke, now you are counter dictating yourself

Trump may well be broke today, but he extorted million$ from his Atlantic City casinos decades ago:

How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions

"Though he now says his casinos were overtaken by the same tidal wave that eventually slammed this seaside city’s gambling industry, in reality he was failing in Atlantic City long before Atlantic City itself was failing.

"But even as his companies did poorly, Mr. Trump did well. He put up little of his own money, shifted personal debts to the casinos and collected millions of dollars in salary, bonuses and other payments.

"The burden of his failures fell on investors and others who had bet on his business acumen."

 

[del]

only a true financial genius could go bankrupt running casinos

the cheeto is truly, truly gifted

 

[georgephillip]

only a true financial genius could go bankrupt running casinos

the cheeto is truly, truly gifted

How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions

"In three interviews with The Times since late April, Mr. Trump acknowledged in general terms that high debt and lagging revenues had plagued his casinos.

"He did not recall details about some issues, but did not question The Times’s findings.

"He repeatedly emphasized that what really mattered about his time in Atlantic City was that he had made a lot of money there.

"Mr. Trump assembled his casino empire by borrowing money at such high interest rates — after telling regulators he would not — that the businesses had almost no chance to succeed."

Trump will be remembered as the most famous con man in history.

 

[DavidCayJohnston]

Damn, negative $295 million? He's more poor than I am! ..."

The lede on my 1990Philadelphia Inquirer piece, which we can stripped across the top of the front page above the masthead, was "You may well be worth more than Donald Trump."

 

[dannyboys]

Is he also lying about his net worth?

According to someone who's covered Trump's performances since the 1980s (David Cay Johnston), this president has never been a billionaire.

Rudy Giuliani’s big reality-show reveal: The “billionaire” in...

"Rudy Giuliani’s big reality-show reveal: The 'billionaire' in the White House is broke
In Giuliani’s appearance with Sean Hannity, he clearly implied Trump had to borrow the Stormy Daniels hush money..."

"As you read what follows keep two thoughts in mind.

"First, would any billionaire need months to pay a $130,000 bill?

"Second, there is not now and never has been a shred of verifiable evidence that Trump is or ever was a billionaire, a myth I first demolished using his own net worth statement prepared for a lawsuit in spring 1990.

"Trump called me a liar back then for four months until he had to put into the public record his bankers’ assessment of his riches.

"The bankers calculated that Trump was worth a negative $295 million."

MSNBC's Rachel Maddcow recently waved around Trump's tax returns from a couple of years ago. They proved he paid about 128 million in federal taxes that year.
Not too bad for someone who is "broke".