Posted on 01/22/2016 6:50:12 AM PST by Cincinatus' Wife
Goldman Sachs once gave Ted Cruz's campaign a $1.43 million loan. His campaign also got a loan of less than $500,000 from Citibank. According to Donald Trump, in a claim that has been repeated roughly a billion times, that means THEY OWN HIM. Even though, as far as I can tell, all or part of these loans have been repaid.
As I reported yesterday, at various times Donald Trump has had hundreds of millions of dollars in loans from Citibank and Goldman, some of which have been repaid, some of which were discharged in bankruptcy when Trump's Altantic City casino went belly up. By Trump's own standard, Citibank and Goldman own him, too.
But of course, it's much worse than that for Trump. As a twitter user pointed out, according to Trump's most recent financial disclosures, he has hundreds of millions of dollars in loans from virtually every bank on Wall Street. Here is a copy of the form.
As you can see, Trump is in hock to a veritable who's who of Wall Street banks, as one would probably expect of a person who makes a good portion of his living doing New York City real estate deals. The bare minimum amount displayed here is at least $250 million in loans, although of course it is probably much, much more than that. Trump has four loans listed here that are "over $50 million" and of course, those might go all the way up to a billion each or beyond.
Now, no one knows how much Trump is worth, and his own word is definitely not to be believed on that subject, but it is clear that some very significant amount of it is tied up as collateral for these loans. Nor would it really matter if Trump announced he were going to pay these all back tomorrow, at least by his standard.
I would frankly be surprised if someone of Trump's business profile has not at one time had an enormous outstanding loan from every bank of any decent size in the country, in fact.
If Ted Cruz is owned by Goldman Sachs and Citibank because they once gave him a $1 million loan (even though it is completely or mostly paid back), then Donald Trump is definitely owned by not only Citibank and Goldman Sachs, but also .
If America can't trust Ted Cruz to protect them from Goldman and Citibank (although why any of us need protecting from Citibank, I do not know), then how can anyone in America trust Donald Trump to protect them from literally every bank?
Not really because the fuel was paid for at the pump.
Now banks are bad too?
If Trump has a $700M construction project that is teetering on the brink due to unforeseen circumstances, what are the consequences if his creditor doesn’t quickly extend him a larger line of credit? Say $50M?? He is liable to loose hundreds of millions of dollars on a failed project.
If Cruz wants to get re-elected in 2020, what are the consequences if he doesn’t get the $70K that Goldman donates to him? What are the consequences if Goldman fires his wife? She just gets another job?
Do you see how there is a huge difference between the negative consequences to be suffered by the candidates if they don’t tow the Wall Street line?
When you are a ‘billion’ dollar ‘BUSINESSMAN’ you borrow money from banks to run your business...any person with any sense understands this...
Some of you on here are only on here to slam Trump, and we know what your TRYING to do, but guess what, IT ISN’T GOING TO WORK THIS TIME...
We have a massive movement going on, it’s called the AMERICAN VOTERS that want to SAFE AMERICA...
We are the voters that are tired of having this person and that person in their ‘offices’ tell us who we are going to vote for, not this time, WE VOTERS are going to run this election, and if the GOPe, RINO base, media and anyone else doesn’t like it, to darn bad!!!
We stand in long lines for hours, cold, snow, wind, rain, heat to gather the massive crowds, I don’t see your candidates, any of them doing this, but one person and that is OUR candidate...we are angry and we are fed up...we have given Republicans ‘conservative’ (which has lost all meaning) a chance, two in fact, to change the way this government to be run for the American People, in 2012 and 2014 we gave them that chance, but they messed it up again, well not this time....
As Americans, we are taking back OUR COUNTRY, you can come along with us, or you can stand aside and pout, because we are sending a ‘BUSINESSMAN’ to lead OUR COUNTRY to save and MAKE AMERICA GREAT AGAIN and if you don’t like it, DEAL WITH IT!!!
Trump also (like Bernie) would support the nationalization of banks to keep them running. Trump is such a fraud
with a little accuracy and no ignorant hyperbole, Trump is leveraged by every bank.......
No it's not different. Good grief.
Your article is relevant. The trumpster divers will not accept it, but anyone above moron status gets it....
I guess everyone that has a mortgage is owned by the banks too. Weak.
Yes. Many fans of The Donald have this fantasy that a billionaire real-estate developer who has spent his career cultivating relationships with bankers and depending on them for massive amounts of credit is suddenly going to turn on them and smash up the current financial system.
Is. Not. Going. To. Happen.
[No it’s not different. Good grief.]
Please explain how it’s not different.....
If I have a car loan and a mortgage, and I owned by the banks? Would I do what they tell me?
Is there really a difference between placing money in a campaign fund, or placing it in a personal account.... if both accounts are ultimately funding a campaign?
I like Trump. I really do.
I just wish Trump had clearly told voters about the sweet deals he has cut with Goldman Sachs when Trump first brought up the problems Goldman Sachs had created for other Republican candidates.
The only reason I can think of is that Trump, for some reason, didn't want word to get around.
I like Trump. I really do. The only reason I even mention his money ties to Goldman Sachs is I know the Democrats will tear into him about this sweet deal. He needs to get out in front of this story right now - get the whole truth out about how much money he made and what this big outfit - Goldman Sachs - expects in return.
The only reason I mention it is as a favor to Trump. Trump needs to go to court and get a ruling that clears this up.
I like Trump. I really do.
And food doesn't come from farmers, it comes from supermarkets.
That’s the point.
If trump is not “owned” by banks to whom he owes hundreds of millions (much of which he doesn’t pay vack), then Sen. Cruz, who borrows from banks AGA I NOT HIS OWN ACCOUNTS and who actually PAYS BACK HIS LOANS, is not “owned” by the banks for loans in the hundred of THIUSANDS.
And pays back his loans, unlike the deadbeat trump.
You have a mortgage... to a degree you do what the mortgage company tells you. You have a car loan, to a degree you do what the lender tells you to. Absolutely.
Hope you are enjoying happy hour,
AGA I NOT should be AGAINST
The Democrats will surely tear into anyone who threatens Hillary's rise to her rightful place in the White House. It doesn't matter if it's Trump, Cruz or even Jeb... they will tear into them for something or the other.
What's important now is the fact that Trump has the guts to say things that the others are too scared to say.
And it’s worse for Trump. He NEEDS these banks. Not just everyone can loan him 50,000,000 for a construction project. You don’t think there’s leverage there? You don’t think the banker can expect anything from Trump? Time to grow up.
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