and possible toxic pollution to deal with. and possibly not... feh
Posted on 01/15/2017 8:27:13 AM PST by mikelets456
President-Elect Donald Trump bought his son’s failed company, foreclosed on the property, and now South Carolina taxpayers are left to clean up the mess he left behind. President-Elect Trump won South Carolina by a little more than 14 points.
In early 2014, a company in Charleston, South Carolina was promising to “revolutionize” home construction, by manufacturing and selling “home construction kits.” First it was called Titan Atlas Manufacturing, later being in reorganized into Titan Atlas Global before shutting down for good in the spring of 2015. Part of this doomed venture was none other than Donald Trump, Jr., who faced millions in debt.
“In addition to Donald Trump Jr., Titan Atlas’ founding investors were Washington state farmer Lee Eickmeyer and Mount Pleasant resident Jeremy Blackburn, who was also CEO of Titan Atlas Global. Each of the three men personally guaranteed a $3.65 million Titan Atlas Manufacturing loan from Deutsche Bank — the loan that the elder Trump’s company later purchased — allowing the bank to pursue the three men together or individually if it were not repaid,” according to a January 2016 report from The Post and Courier. Eickmeyer also personally loaned the company just under $1 million.
(Excerpt) Read more at latest.com ...
http://nlpc.org/2013/10/28/stimulus-dirty-little-secret-unaccounted-toxic-solar-waste/
This story is almost a year old. I looked at the SC newspapers reporting on it, neither pro or against Trump.
Nothing untoward going on.
How do u know only far left are covering it.
Do you like far left outlets?
And what’s with the all caps?
You sound like one of Cruz’s dead Enders
and a current Trump hater.
Sorry corrected link to my #41 here:
http://nlpc.org/2013/10/28/stimulus-dirty-little-secret-unaccounted-toxic-solar-waste/
The Land wasn’t Toxic until Trump paid some Prostitutes to Pee on it.
Sawdust has been considered a toxic material.
Hey, fake media! Isn't there some trash pile you haven't dug through yet? You might want to check Trump's sewage drains. Maybe purloin a couple of his used snot rags. How about diverting his bathroom sink so you can filter his spit?
You people have to look up to see bottom.
That’s funny.
Get back to me when Jon Corzine pays back investor (or goes to jail). Some piddly $5M fine to the CFTC won’t ct it.
and possible toxic pollution to deal with. and possibly not... feh
“The factory in North Charleston? It sits empty, with a leaky roof, rusted equipment, and possible toxic pollution to deal with. It’s this that brought the story to Maddow’s show.”
So there are no abandoned factories with rusted equipment & leaky roofs & POSSIBLE toxic pollution out there in other states? What BS!
That DOES IT I am voting for Hillary... heh heh
“Solyndra: FAIL! – Obama gave $500,000,000 (that’s a HALF BILLION!) in taxpayer money to Solyndra who shut its doors and laid off 1100 workers in August 2011 after billions in losses due to failure to make a solar product that works! Barack Obama was not vetted before being elected President and neither was Solyndra before Mr. Obama threw that taxpayer money down the drain of unproven technology.”
......and this is only the tip of the Iceberg of wasted Taxpayer money under the past 8 years Administration.
And yet Kennedy was the one who made the Bay of Pigs operation an unworkable mess in the name of “plausible deniability”...something Ike (under whom the plan was first hatched) wasn’t so concerned about.
There are not enough facts in that article to support the conclusions.
Small company, small problem, small news. Perfect for MSNBC.
I read all the stories in the South Carolina papers. First, there’s a massive problem when political writers cover business because they know nothing.
You got a Post and Courier Story from July 2015, another from Jan 2016, recharacterized 1/14/2017 by something called latest.com which becomes this MSNBC thing today.
In short, Jr., a longtime friend of many business deals and a third guy had a 2010 deal to manufacture some alternative building materials in SC. The deal operated until 2012, well enough. They’d gotten a loan on the Company and its assets, including a real estate property from Deutschebank, that smells like about $10 million.
The third guy went Bankrupt and purged his guarantees to Deutschebank. Jr. and the friend liability went from $3.5 to $5 mm each. He was the one that was supposed to know the materials business, not Jr. and his ally. They weren’t operating it. Trump Sr. has a company that buys notes from big banks. They bought this one for three million, probably what Deutschebank thought its note was worth. The company that bought the note foreclosed and owns the property and the personal property the company owned, which normally you sell off by the pound. It hasn’t operated for five years.
In sum, it’s a business foreclosure. All the fu fu dust in the world won’t change any of these facts: Deutschebank didn’t think it was worth $10mm, they sold the note to Sr’s company which foreclosed. All the crap abut liens and taxes and clean up is the case all over the place, everywhere. The notion of folks negotiating a discount with banks is on tv seminars, its not “highly super duper top secret sophisticated” lmao. Theres a picture of the property here:
Link to previous post, .... sorry for double post.
http://www.dividedstates.com/list-of-failed-obama-green-energy-solar-companies/
===========================================
Here's why.
EXCERPT---FOURTEEN TRILLION DOLLARS Behind The Real Size of the Obama Bailout; A guide to the abbreviations, acronyms, and obscure programs that make up the $14 trillion federal bailout of Wall Street
SOURCE motherjones.com --- Mon Dec. 21, 2009 12:23 PM PST
The price tag for the Wall Street bailout is popularly put at $700 billion—---the actual size of TARP--the Troubled Assets Relief Program.
But TARP is just the best known program in an array of more than 30 overseen by Treasury Department and Federal Reserve that have paid out or put aside untraceable money to bail out financial firms and inject money into the markets.
PAUSE TO REFLECT First-term Obama had tight control of the US Treasury; Obama calculatedly placed his then-COS Rahm Emanuel in a dual role.......in the WH and at Treasury. Obama had a stranglehold on Treasury via COS Rahm Emanuel's dual role.
To get a sense of the size of the real $14 trillion bailout, see MJ chart at web site. A guide to the pieces of the puzzle includes massive untraceable Treasury Department bailout programs.
Money Market Mutual Fund: In September 2008, the Treasury controlled by Obama/Emanuel announced that it would insure the holdings of publicly offered money market mutual funds. According to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), these guarantees could have potentially cost the federal government more than $3 trillion [PDF].
Public-Private Investment Fund: This joint Treasury-Federal Reserve program bought toxic assets from banks and brokerages—as much as $5 billion of assets per firm. According to SIGTARP, the government's potential exposure from the PPIF is between $500 million and $1 trillion [PDF].
TARP: As part of the Troubled Asset Relief Program, the Treasury controlled by Obama/Emanuel made loans to or investments more than 750 banks and financial institutions. $650 billion has been paid out (not including HAMP; see below). As of December 21, 2009, $117.5 billion of that has been repaid.
Government-sponsored enterprise (GSE) stock purchase: The Treasury controlled by Obama/Emanuel bought $200 million in preferred stock from Fannie Mae and another $200 million from Freddie Mac [PDF] to show that they "will remain viable entities critical to the functioning of the housing and mortgage markets."
GSE mortgage-backed securities purchase: Under the Housing and Economic Recovery Act of 2008, the Treasury controlled by Obama/Emanuel may buy mortgage-backed securities from Fannie Mae and Freddie Mac. According to SIGTARP, these purchases could cost as much as $314 billion ---SNIP---.
LONG READ---go to web site to read more and checkout the shocking financial charts.
SOURCE http://motherjones.com/politics/2009/12/behind-real-size-bailout
I’m very upset.
This will work to Hillary’s favor in the 2016 Presidential Election.
I don’t see how Trump can win, now.
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