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?
Are the RINOS at Red State now anti capiltalists! For God’s sake I guess every business persons who has taken out a loan is now owned by a bank?! This is Trump derangement syndrome - straight up.
His crazy fools paid back the loan through begging. Cruz didn’t pay a penny of his own money towards that loan. He is a fraud. I am just grateful we are finding out now and not October.
You’re owned by every candidate except Trump.
If you owe a bank a million dollars, they own you. If you owe them a billion, you own them.
If you don’t like Capitalism, what do you like Socialism? Communism? Capitalists borrow money, use it in their business, hire people, build things, make money, pay taxes, and pay backback the loan. That’s how capitalism works. Something wrong with that?
Loans to politicians for use in their campaigns is not capitalism.
Those are BUSINESS loans, not personal ones. Rather than digging up dirt, why don’t you promote the idea of Scott Walker as Trumps VP? He’s got the government executive experience, has faced-down big labor and would be a great complement to Trump and the perfect choice to preside over the dismantling of Big DC Gov’t. Think about it - positive energy is always better than negative, especially when posts like this don’t do any good anyway.
She has one.
This is it.
she has one....pick bad candidates
“Whether they FUND THEM or NATIONALIZE them, it doesn’t matter, but you have to keep the banks going.”
That may be hyperbole and some will say the banks are already nationalized. Trump probably remembered from college that the Fed created bank failures were instrumental, and maybe fully responsible, for plunging the nation into a deep depression in the thirties.
They keep confusing business relationships and deals with political relationships and deals. They are so different.
A bank loan is a business contract with specific terms that cannot be changed because a certain party doesn’t like the other party’s political beliefs or actions. Both parties must perform according to the terms of the contract or there is a breach, regardless of their political views or anything else. A business contractual transaction is a basically objective issue based on the terms of the contract, not based on moral viewpoints or political opinions.
Political transactions and deals are a whole other animal and involves quid pro quo promises, favors, special political interests, and under-the-table future benefits which more often than not involves unconstitutional government interference and political action for the benefit of the contributing special interest.
Leon and CW are now against the Free Enterprise System and hence, not TRUE conservatives. When is NRO going to put out the CW has lost her mind issue?
People who can’t understand the difference between a politician and a business man are not very astute . . or are just plainly in the tank for Cruz and incapable of admitting the difference between ‘apples and oranges’.
Trump’s past words can’t be held against him, since he was not running for office. Now that he is running for office . . I notice very little controversy over what he said in August and what he says in January. That is the only measure of time that can accurately be used to judge his political stance. He was a good businessman and, as such, he tickled the right ears to increase his profit margin. I’m hoping he can do the same for America now that he is our politician in chief.
You need a course in manners.
Probably wouldn’t hurt if you looked at facts.
Donnie is a hypocrite - saying the Cruz loan means he is bought and paid for by GS - but his own loans mean nothing of the kind?
Did you read that? Do you understand that?
The establish is converting their support to Trump.
Why not Cruz? Because he truly cannot be bought.
Any luck locating a link?
... Loans and mortgages taken for construction projects are different than those used for election campaigns. Nice try...
Only to trumpees who would make excuses for DT if he was caught on live TV having sex with Obama.
... Cruzâs loan was for his campaign; Trumpâs was for his business.
Oh boy. Another koolaid drinker.
Third Way Trump!
Government and business working together for what is beneficial to both.
Like Kelo.
Private business works with govt to take someone’s property for their own use which will then profit both the private business and govt.
Funny thing is the Clintons started preaching the benefits of The Third Way as far back as 1998-99.
These banks would love to get Mr. Third Way Trump as president.
Seriously?
... Thatâs 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..
Cruz said absolutely no more bank bailouts. You can bet DT would bail them out.
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