WaitingFor2020
Gold Member
- Banned
- #1
So Mr. Trump has this yuuuuuge problem with talking about his failed businesses:
Donald Trump the Mortgage Broker Was in Trouble From Moment One
""Donald Trump had heard all the chatter, the idle talk about how the U.S. housing market was overheating and trouble was looming. He was unfazed. It was the spring of 2006 and he was pushing a new mortgage business, Trump Mortgage LLC.
Trump had big plans for the company. It’d be based in his iconic 40 Wall Street building and broker $3 billion in loans in the first year alone, some $100 billion within a decade. His son, Donald Jr., had helped him shape the business plan. That April, when asked about the signs of cracks emerging in housing, he was dismissive, telling CNBC that it’s “a great time to start a mortgage company.”
A year and a half later, Trump Mortgage was out of business. Along with dozens of other lenders and brokerages, the firm unraveled when the housing market imploded and the U.S. economy sunk into its worst recession since the Great Depression. The company never got near its fundraising goals, and it left at least one lawsuit in its wake, by a former broker who alleged she was stiffed on a $238,000 commission."""
Donald Trump the Mortgage Broker Was in Trouble From Moment One
Donald Trump the Mortgage Broker Was in Trouble From Moment One
""Donald Trump had heard all the chatter, the idle talk about how the U.S. housing market was overheating and trouble was looming. He was unfazed. It was the spring of 2006 and he was pushing a new mortgage business, Trump Mortgage LLC.
Trump had big plans for the company. It’d be based in his iconic 40 Wall Street building and broker $3 billion in loans in the first year alone, some $100 billion within a decade. His son, Donald Jr., had helped him shape the business plan. That April, when asked about the signs of cracks emerging in housing, he was dismissive, telling CNBC that it’s “a great time to start a mortgage company.”
A year and a half later, Trump Mortgage was out of business. Along with dozens of other lenders and brokerages, the firm unraveled when the housing market imploded and the U.S. economy sunk into its worst recession since the Great Depression. The company never got near its fundraising goals, and it left at least one lawsuit in its wake, by a former broker who alleged she was stiffed on a $238,000 commission."""
Donald Trump the Mortgage Broker Was in Trouble From Moment One
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