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?
"....[Larry] KING: There are a lot of great topics. One of them is Barack Obama. In fact, the list at the back of the book on the topics, the number one is, "Barack Obama's election ushers in a different world."
How do you assess him?
[Donald] TRUMP: Well, I really like him. I think that he's working very hard. He's trying to rebuild our reputation throughout the world. I mean, we really have lost a lot of reputation in the world. The previous administration was a total disaster, a total catastrophe.
And, you know, the world looks at us differently than they used to. And I think he's trying to restore our reputation within the world. And he was handed a pretty bad deck of cards. I mean, he was given a pretty tough situation.
And I'm not saying I agree with everything he's doing. I do agree with what they're doing with the banks. Whether they FUND THEM or NATIONALIZE them, it doesn't matter, but you have to keep the banks going.".....CNN Transcript of interview
“When you owe the banks a million dollars, they own you. When you owe the banks a billion dollars, you own them.” —Donald Trump
You need a hobby.
Loans and mortgages taken for construction projects are different than those used for election campaigns. Nice try...
Cruz’s loan was for his campaign; Trump’s was for his business.
I am not a fan of National Review or Eric Erikson of Red State, but there are others that have come out against Trump such as Brent Bozzell, he was on Fox last night.
So just wondered why this is NOT on front page of FR? I guess the same reason FR bumped 2 polls that came out yesterday that were not bad For Cruz?
2 polls came out yesterday in Iowa, one had Cruz up by 2, and the other had Trump only up by 1, both were bumped from the front page only because other polls bad for Cruz came out only couple hours later.
Leads me to believe that FR is in the tank for Trump. Why were the other 2 polls more favorable to Cruz that also came out only yesterday, bumped from the front page?
How do we know that they are not more accurate, why are they dismissed?
I had said last week that it appeared to me that the majority here were for Trump, I was corrected by a couple that no I was mistaken and there is a edge for Cruz
Whatever can only assume the powers that be here are for Trump over Cruz, or else why are the favorable polls for Cruz bumped off front page
one has to look hard to find them now, only hours before the bad Cruz polls...btw I believe the polls that have Trump up outside of the margin of error are all being pushed by the MSM, only question is will the people of Iowa be affected by the phony polls
I brought this to attention of a mod last night just asking the question why were the Cruz 2 favorable polls from yesterday bumped off front page, I thought was a fair question, only hours separated them.
John King at CNN cautioned people to take cnn poll with a grain of salt because of the turn out methodology they used, plus added that they also asked People that only voted 4 years in Iowa and that also had Cruz up by 2.
ALSO Cruz does better in larger samples, the CNN poll that has Trump up by 10 whatever they only ask 266 I believe
BTW FR has the right to be for Trump over Cruz if they want
Big deal. Trumps was in the business of taking loans and making banks profits as subordinated partners in his ventures.
Are conservatives now eschewing capitalism?
Looks like we re starting to figure out who the real GOPe is now and the RINO s on the far right have been exposed.
Cruz has been in politics for YEARS and is a sitting Senator.
There is a bit of a difference there.
That’s some nice twisted logic there from commiestate. A political loan vs a business loan. A loan where all that is created is more words vs a loan that creates a tangible product and jobs. Over his life, Trump has made a lot of money for the banks. They owe him, he does not owe them. Ted Sachs on the other hand..
Was he on the Mount when he gave those words to you?
No, they are not. At least Cruz pays his back, unlike Trump who declares bankruptcy.
” Trump’s most recent financial disclosures, he has hundreds of millions of dollars in loans “
Since his properties cash flow well and are worth 10 billion what is the point??
He’s said over and over he’s stepping away from the business and letting his kids run it.
https://www.youtube.com/watch?v=iW-565FZGWE
Imagine that... a real estate developer actually takes out mortgages and loans. I’m shocked beyond belief... who ever heard of such a thing?
Red State may as well change it’s name to TrashTrump.com
Cruz lied about his loans and used it on campaigning because nobody wanted to give him donations so he was desperate. Lord knows what he would do with our country when he is desperate.
Trump used it for building businesses which is 100 percent different.
Trump 2016! God Bless Donald Trump and Sarah Palin......only two Patriots in America taking the next Presidency seriously right now.
This is just a big a nothing burger as the 'Ted Cruz doesn't tithe right' thread yesterday.
"...This is a smear, by the way. [Trump's] seizing on the revelation last week that Cruz never disclosed a margin loan from Goldman Sachs, where his wife works, during his first Senate run. That's true, sort of - he never disclosed it to the FEC, which Cruz blamed on a "filing error." But it's not true that he never disclosed the loan publicly. Phil Kerpen dug up this form from Cruz's filing with the Secretary of the Senate before the runoff with David Dewhurst in 2012. ".....
Cruz' loan was collateralized so what's difference? Other than the fact that Cruz' loan has been paid back. The banks own Trump.
Trump doesn't owe any bank a billion dollars. So then by Trump's own admission, the banks own him.
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