Connect with us

America

Donald Trump owned real estate business $650 million in debt

Published

on

Republican presidential nominee Donald Trump’s real estate holdings in the US have at least $650 million in debt – twice the amount than the public filings he has made as part of his bid for the White House, according to an investigative report by the New York Times.

The report says that though Trump has sold himself as a businessman who has made billions of dollars and is beholden to no one, an enquiry by the Times has found that Trump’s fortunes depend deeply on a wide array of financial backers, including one he has cited in attacks during his campaign.

It says that an office building on Avenue of the Americas in Manhattan, of which Trump is part owner, carries a $950 million loan.

Among the lenders are: the Bank of China, one of the largest banks of China – a country that Trump has railed against as an economic foe of the US, and Goldman Sachs, a financial institution he has said controls Hillary Clinton, the Democratic nominee, after it paid her $675,000 in speaking fees.

“Real estate projects often involve complex ownership and mortgage structures. And given Mr. Trump’s long real estate career in the United States and abroad, as well as his claim that his personal wealth exceeds $10 billion, it is safe to say that no previous major party presidential nominee has had finances nearly as complicated,” it says.

The Times says that its examination “underscored how much of Mr. Trump’s business remains shrouded in mystery. He has declined to disclose his tax returns or allow an independent valuation of his assets”.

But if elected president, Trump would have substantial sway over monetary and tax policy, as well as the power to make appointments that would directly affect his own financial empire. He would also wield influence over legislative issues that could have a significant impact on his net worth, and would have official dealings with countries in which he has business interests, it says.

Earlier in the campaign, Trump submitted a 104-page federal financial disclosure form. It said his businesses owed at least $315 million to a relatively small group of lenders and listed ties to more than 500 limited liability companies. Though he answered the questions, the form appears to have been designed for candidates with simpler finances than his, and did not require disclosure of portions of his business activities.

Besides finding that companies owned by Trump had debts of at least $650 million, The Times discovered that a substantial portion of his wealth is tied up in three passive partnerships that owe an additional $2 billion to a string of lenders, including those that hold the loan on the Avenue of the Americas building. If those loans were to go into default, Trump might not be held personally liable, but the value of his investments would sink.

Trump has said that if he were elected president, his children would be likely to run his company.

America

Trump confirms CIA chief met Kim Jong Un in North Korea

Published

on

Kim Jong Donald Trump

Donald Trump confirmed CIA Director Mike Pompeo met with the leader of North Korea last week.

“Mike Pompeo met with Kim Jong Un in North Korea last week. Meeting went very smoothly and a good relationship was formed, ” U.S. President Trump says in Twitter post.

He added: “Details of summit are being worked out now. Denuclearization will be a great thing for world, but also for North Korea!”

Continue Reading

America

President Trump says WTO ‘unfair to U.S.

China, which is a great economic power, is considered a Developing Nation within the World Trade Organisation.

Published

on

Donald Trump

WASHINGTON: US President Donald Trump blasted the World Trade Organization on Thursday, saying the international trade body was “unfair” to the United States while giving China “tremendous perks and advantages,” but he offered no evidence or examples to back up his claim.

“China, which is a great economic power, is considered a Developing Nation within the World Trade Organization. They therefore get tremendous perks and advantages, especially over the US Does anybody think this is fair. We were badly represented. The WTO is unfair to US,” Trump wrote on Twitter.

Continue Reading

America

President Trump suggests no deal on DACA

He also urged Republicans in charge of the Senate to “go to Nuclear Option to pass tough laws Now.”

Published

on

US-President-Trump

Washington, April 2 : US President Donald Trump suggested on Sunday that there would be no deal to legalize the status of hundreds of thousands of “Dreamers”, undocumented immigrants brought to the US as children.

“No MORE DACA DEAL!” Trump said in an emphatic tweet Sunday morning. DACA refers to the Deferred Action for Childhood Arrivals, an Obama administration program that shields Dreamers from deportation, Xinhua reported.

Trump shut it down last fall but gave lawmakers six month to come up with a permanent solution.

Though Congress has been unable to reach a consensus on the issue and stalled the progress, legal challenges to the Trump order has managed to keep DACA in place for now.

The President tweeted a claim on Sunday that Border Patrol agents can’t do their jobs properly because of “ridiculous liberal (Democrat) laws” that allow people caught for illegally staying in the country to be released while awaiting a hearing.

He also urged Republicans in charge of the Senate to “go to Nuclear Option to pass tough laws Now.”

In order to end debate and move forward to a vote on a measure or piece of legislation, Senate rules require 60 votes in the 100-member Senate. Republicans now only control 51 seats, and GOP Senate leaders have opposed Trump’s repeated call to change the longstanding rules.

Continue Reading
Advertisement

Most Popular