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Eric Trump: Idea The Deutsche Bank Worried My Dad Might Default On $340 Million Of Loans While President Is ‘Complete Nonsense’
Eric Trump, son of "genius", doesn't know much, but he knows it's "complete nonsense" for Bloomberg to suggest that Deutsche Bank once thought about restructuring some $340 million in loans to the Trump Organization.
Earlier this month, The New York Times reported that Deutsche turned Trump down for a loan in 2016 out of concern for the bank's "reputation". Apparently, then-candidate Trump's bombastic rhetoric and the prospect that he just might win the presidency unnerved senior managemen
It’s NEVER my fault. Period. So how can I ever be ‘default’? Doh. You people.
Pretty funny when a bank with laundering reputation will not loan more money to trump for concern of his reputation damaging them. It is amazing how the entire trump family can twist a sentence to reflect a completely wrong or not really right or…OK, an outright lie of why they don’t need the loan now and then claim fake news.
If the loan request was even related to their true loss of contract to only brand and manage some other guy’s hotels is not really clear; per the son’s: “Meanwhile, Eric and Don Jr. have called off plans to pursue two new lines of Trump hotels, “Scion” and “American Idea”.” This is the truer story behind that sentence: https://www.washingtonpost.com/business/economy/trumps-sons-are-running-the-business–and-their-big-hotel-expansion-is-at-a-standstill/2019/01/03/d7016168-f96a-11e8-8c9a-860ce2a8148f_story.html?utm_term=.e4e2d27e0c43
Sorta seems like the bigger problem for the son’s is the trump reputation — “…lost branding and management deals for hotels in Toronto, Panama and New York. Owners of apartment and condominium complexes in New York have taken the Trump name down there as well, saying the brand was hurting their property values.”
Oh, and there’s this little problem too — “Investigators are also swarming the company, and that is putting it at risk of having to disclose private financial information in court cases and before Congress”.
And there is that pesty emoluments clause effecting future business “In two lawsuits wending their way through federal courts, plaintiffs argue Trump – because he still owns his business – is violating the Constitution’s emoluments clause, barring gifts or payments from foreign or state governments.”
Perhaps the need for the Deutsche Bank loan to trump is related to possible new hotel(s) in Mississippi where trump remains at 57% approval/popular however it seems the potential locations are economically depressed and ability to rent rooms at $300 a night would be unrealistic (same link at Washington Post article).