Trump is in BIG trouble

 

“Trump is in BIG trouble

Why?

I’m glad you asked.

Trump is up to his eyeballs in debt. We do not yet know all the banks he owes money to but we do know Deutsche Bank is one of them. We also know that he reported $900 million in debt from his financial disclosure forms from 2016.

Why would a “billionaire” need a loan from a bank? Well to hear Trump explain it, it’s some manner of complicated business and tax plan that mere mortals cannot understand because you need to be a stable genius to understand along with a certain expertise that most people would call, ‘potayto logic’ because you’d have to have taters where brains should be to understand it.

The reason why even all you nattering ninnies should be enjoying your tall glasses of glee is because banks have certain fiduciary responsibilities to their shareholders and that means if they do business in the United States, they have to follow these things state and federal prosecutors call ‘laws.’ This is where things get good.

Say you have a company named Deutsche Bank and you loaned a company called ‘The Trump Org’ $900 million. The general idea is that the Trump Org will pay the loan back but to get the loan, the Trump Org has to put up what’s called “collateral” just in case something happens, the Bank can get its money back.

But imagine for a minute you are the Deutsche Bank and you know that the Trump Org has maybe filed bankruptcy six times previously and you tell the president of the Trump Org that he’s going to have to sign a rider to get that loan which will not just use the collateral of the Trump Org but his own personal assets that he cannot declare bankruptcy on and Donnie Dumbfuckitus agrees to this specific term.

Now imagine if you will, a few years later that the Trump Org gets indicted as a ‘criminal organization’ that will have its assets seized if it is convicted in court. If you are a bank for instance that holds a fiduciary duty to your shareholders and you made a loan of $900 million to that Trump Organization, do you want the state to seize those assets or do you want to get ahold of those assets before the state confiscates them? And what do you do to get those assets before the state takes them and splits them up amongst the creditors?

You file foreclosures.

That means that whatever the value of those loans are comes due, immediately. Now I don’t mean to be telling tales out of school but if Donnie Three Wives needed $900 million in loans, it’s probably because he ain’t got $900 million in cash to pay off the foreclosure and that technically means that Trump be fucked as in all the way fucked.

As an extra silver lining, now he has to worry about Alan Weisselberg turning states’ evidence. Now here is where things get even more interesting.

Since Weisselberg has what we can assume is ‘basic intelligence,’ we can surmise that a wealthy man like him will hire a competent attorney. This competent attorney is not going to allow Mr. Weisselman to provide evidence to New York State that can be turned right around and used against him in federal proceedings.

That means to avoid going to prison for the rest of his natural life, Mr. Weisselberg is going to have to get a deal from the federal government as well and US Attorneys do not just give deals like that unless they get them a bigger fish to fry and guess who that is?

I know many of you have reason to be cynical or even pessimistic about seeing Lady Justice visiting the Trumps but at the very least, the properties he put up for collateral to get those loans are going to come due and soon at that. Unless he has the cash to pay them off, they are going to become property of the bank. But to take logic to the next inevitable step, let’s say Trump has the cash to pay off the loans, he will never pay them off because they are subject to being seized by the state of New York.

What’s going to be interesting is witnessing them foreclose on those properties and how many of them he has mortgaged which apparently Trump Tower is mortgaged to the hilt. That’s his pride and joy right there and I for one can’t wait to see him try and free himself from the gordian knot New York and the federal government are about to put around his neck.

It’s about to be a beautiful time to witness Lady Justice lay her heavy hands on the Trumps.”

Thomas Clay Jr

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Trump Scores New $100 Million Loan for Flagship New York Tower

• Axos Bank, run by a Trump donor, made the loan last month
• Trump Tower’s previous loan was put on a watchlist last year

By

Max Abelson and

Sophie Alexander

March 9, 2022,

Donald Trump paid off his $100 million loan on Trump Tower that was coming due later this year and borrowed the same amount last month, public records show.

The new loan was made by San Diego-based Axos Bank. Gregory Garrabrants, the lender’s president and chief executive officer, is a Republican donor who gave more than $9,000 to Trump’s 2020 re-election effort, federal filings show. 

Axos declined to comment. The deal was reported earlier by Forbes and the AP.

In September, the old loan had been moved to a watchlist because of “lower average occupancy” at the midtown Manhattan building, according to information compiled by Wells Fargo & Co., the master servicer of the loan. 

The $100 million loan was just one piece of more than $590 million of debt held by the Trump Organization coming due within the next few years. More than half of it is personally guaranteed by Trump.

The pandemic has weighed on Manhattan, sending office and retail vacancy rates soaring and weighing on rents. At Trump Tower, located on Fifth Avenue near Central Park, footwear maker Marc Fisher “vacated prior to lease end,” Wells Fargo said, adding that the Trump Organization is trying to find a replacement. 

A year ago, Trump’s company sued Marc Fisher, which partnered with Ivanka Trump’s now-defunct fashion line, for more than $1 million in unpaid back rent. It later dropped the lawsuit, according to court records. 

Read more: Trump Fortune Falls to $2.3 Billion as Covid and Riot Hit Empire

Garrabrants -- the head of Axos, formerly Bank of Internet USA -- has stood out for his immense pay. He made $34.5 million in 2018, more than Jamie Dimon of JPMorgan Chase & Co., even though the lender had less than $10 billion in assets. Around that time, the firm was behind a sizable loan to the company owned by the family of Trump son-in-law Jared Kushner.

During the Covid-19 pandemic, he told employees to get busy or face discipline.

Trump Tower, 10 stories shorter than the former U.S. president has claimed, has been home to gangsters, gamblers, politicos, celebrities and billionaires, including Michael Jackson, Paul Manafort, and, in a marbled triplex penthouse, Trump himself. 

Trump has a few other concerns besides the tower’s mortgage. His accounting firm severed ties, he’s teased another run at the White House, and he and two of his children were ordered to testify in a fraud case. 

— With assistance by Caleb Melby, and Tom Maloney

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