Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Divine Discontent

(21,056 posts)
Fri Sep 23, 2016, 06:17 PM Sep 2016

Trump’s Father Helped GOP Candidate With Numerous Loans

Source: WSJ

Donald Trump often has said on the campaign trail that his business empire grew out of a single $1 million loan from his father.

While that is a literal description of how he started in business, the story omits significant additional loans and gifts Mr. Trump received in the early years when he was building his real-estate empire, some of which are described in a document reviewed by The Wall Street Journal.

The document, a casino-license disclosure in 1985 by then-wife Ivana Trump, shows Mr. Trump taking out numerous loans from his father and his father’s properties near the start of his career in the late 1970s and early 1980s.

At the time of the disclosure, Mr. Trump owed his father and his father’s businesses about $14 million, according to the document.

Read more: http://www.wsj.com/articles/trumps-father-helped-gop-candidate-with-numerous-loans-1474656573



"My father gave me a small loan of $1 million dollars"
"My father gave me a small loan of $1 million dollars"
"My father gave me a small loan of $1 million dollars"
"My father gave me a small loan of $1 million dollars"
"My father gave me a small loan of $1 million dollars"
"My father gave me a small loan of $1 million dollars"
"My father gave me a small loan of $1 million dollars"
"My father gave me a small loan of $1 million dollars"
"My father gave me a small loan of $1 million dollars"
"My father gave me a small loan of $1 million dollars"
"My father gave me a small loan of $1 million dollars"
"My father gave me a small loan of $1 million dollars"
"My father gave me a small loan of $1 million dollars"
"My father gave me a small loan of $1 million dollars", is what Drumf meant to say...

He got cash every time he needed it to expand his reach and start his bamboozlin' ways, according to all the people who he never paid! Daddy got his loans back though! He better have, or Donnie Darko wouldn't have gotten the inheritence MOOLAH!
8 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies

tanyev

(42,358 posts)
1. Hey, did his father ever set up a charity foundation?
Fri Sep 23, 2016, 06:21 PM
Sep 2016

A foundation with the mission of helping out promising young businessmen with the last name of Trump?

bucolic_frolic

(42,663 posts)
2. How did Daddy sleep at night?
Fri Sep 23, 2016, 06:31 PM
Sep 2016

Owed $14 million by son Donald. Hollowed out as they say.

When the offspring goes bankrupt with your money, you have no recourse

Midnight Writer

(21,546 posts)
4. And did not the young Trump get an inheritance? Like 250 million?
Fri Sep 23, 2016, 11:59 PM
Sep 2016

That he sued his siblings over? Am I imagining that? I believe I saw this reported.

Kathy M

(1,242 posts)
5. Was not able to read whole article ( asked for me to sign in to read further )
Sat Sep 24, 2016, 01:46 AM
Sep 2016

Did Don pay back the initial loan to father or did father keep loaning / lending him more when needed ?

This is from article written in 1991 from a Philly paper where title is " N.J. Agency says trump loan illegal "

"ATLANTIC CITY — One of Donald Trump's casinos has admitted that it broke the law and violated terms of its license when the developer's father lent it $3.5 million by purchasing gaming chips when he had no plans to gamble, the state Division of Gaming Enforcement said yesterday.

Through his attorney, Fred Trump bought 700 gray chips, each worth $5,000, in December so that Trump Castle Casino Resort would have enough cash to make an $18.4 million interest payment on its mortgage, the division said.

Trump Castle gets to keep the money, but must pay a $30,000 fine under terms of the settlement, Division Director Jack Sweeney said. Sweeney said Fred Trump also agreed to apply for a license as a financial source, which would make another such loan possible in June, when the next interest payment is due.

Donald Trump, the sole owner of Trump Castle, would not be disciplined under the proposed settlement, which must be approved by the Casino Control "

http://articles.philly.com/1991-04-09/news/25780577_1_casino-control-act-donald-trump-casino-owners

From everything I have read , Don needs to be on a monthly allowance . Period .

Divine Discontent

(21,056 posts)
6. Wow. Good addition. Yes, I believe the story is he paid the initial loan and the first few but
Sat Sep 24, 2016, 03:58 AM
Sep 2016

somewhere in the early 80s there must have been a lot more loans because the article stated he owed about $14 mil when Ivanka filed the paperwork for their casino.

40% of Americans have lost their collective minds to want to vote for Donald after all the money given by daddy when he saw an opportunity and needed the cash, something few people in life get. And yet, he's filed bankruptcy several times and thus caused pain to his creditors. Oh, but his creditors now are overseas... GEE, WHAT COULD GO WRONG THERE? (I believe that will be one of Hillary's debate comments).

 

Bradical79

(4,490 posts)
7. Yup. And then a $200,000,000 business when he died.
Sun Sep 25, 2016, 06:36 PM
Sep 2016

Trump has failed numerous times despite huge advantages, and needed multiple bailouts.

Response to Divine Discontent (Original post)

Latest Discussions»Latest Breaking News»Trump’s Father Helped GOP...