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Mon May 20, 2019, 09:03 AM

Mother Jones: Trump borrowed between $5 million and $25 million from Professional Bank in 2018



President Donald Trumpís latest personal financial disclosure was just released, showing that Trump, who already owed more money than any other president in history, borrowed millions more in 2018.

According to the disclosure, Trump borrowed between $5 million and $25 million from Professional Bank, a small Florida outfit that specializes in construction and real estate loans. He borrowed the money at 4.5 percent interest through a limited liability company called 1125 South Ocean LLC. The loan was used to finance the purchase of 1125 South Ocean Avenue, a mansion located next door to Trumpís Mar-a-Lago club and owned by the presidentís sister, Maryanne Trump Barry. Last year, Palm Beach-area newspapers reported that Trumpís sons, Donald Jr. and Eric, had purchased Barryís property for $18.5 million. But Trumpís financial disclosure indicates that in fact he controls the company behind the transaction. Though assets and liabilities are reported in ranges on financial disclosure forms, land records show that the value of Trumpís newest loan $11.2 million.

Read Trumpís 2018 financial disclosure here:

https://www.motherjones.com/politics/2019/05/donald-trumps-latest-financial-disclosure-was-just-released/

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Reply Mother Jones: Trump borrowed between $5 million and $25 million from Professional Bank in 2018 (Original post)
Miles Archer May 20 OP
donkeypoofed May 20 #1
Rambling Man May 20 #6
Javaman May 20 #8
Raster May 20 #10
Javaman May 20 #11
BSdetect May 20 #2
Iliyah May 20 #3
Bettie May 20 #4
Dread Pirate Roberts May 20 #5
frazzled May 20 #7
Skittles May 20 #9
Achilleaze May 20 #12
brush May 20 #13
duforsure May 21 #14

Response to Miles Archer (Original post)

Mon May 20, 2019, 09:08 AM

1. Gee, and he just stated "he doesn't need banks" !

'Cause he has enough money from his successful businesses. Ha!

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Response to donkeypoofed (Reply #1)

Mon May 20, 2019, 10:12 AM

6. OPM

It's how money gets made.

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Response to Rambling Man (Reply #6)

Mon May 20, 2019, 10:24 AM

8. OPM? nt

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Response to Javaman (Reply #8)

Mon May 20, 2019, 10:44 AM

10. Other People's Money

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Response to Raster (Reply #10)

Mon May 20, 2019, 10:56 AM

11. ah, thanks! nt

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Response to Miles Archer (Original post)

Mon May 20, 2019, 09:12 AM

2. On the Con Don

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Response to Miles Archer (Original post)

Mon May 20, 2019, 09:23 AM

3. Shithole, his family, administration

and Republicans are frauds and scram artists, cheaters, stealers, and down right horrible so call "Christian" assholes.

Vote them out!

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Response to Miles Archer (Original post)

Mon May 20, 2019, 09:27 AM

4. Real estate transaction from one family member to another

given what family we're talking about sounds like money laundering...

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Response to Miles Archer (Original post)

Mon May 20, 2019, 09:53 AM

5. This is how Trump makes his money

The house owned by his sister (cough, cough) is likely worth less than the reported transaction value. He gets a loan based on that inflated value. He'll default on the loan (who could have seen THAT coming?), negotiates some work out, that he won't adhere to and finally the bank gives up. It's not a mortgage, so there aren't any forclosure issues. Poof, millions of dollars of the bank's money becomes millions of dollars of Trump's living expenses. In case you were wondering how someone with a billion dollars in losses can live such a lavsih lifestyle.

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Response to Dread Pirate Roberts (Reply #5)

Mon May 20, 2019, 10:22 AM

7. But doing this WHILE you are President of the United States?

That takes some balls.

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Response to frazzled (Reply #7)

Mon May 20, 2019, 10:40 AM

9. balls are THE most delicate body part

just saying

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Response to Miles Archer (Original post)

Mon May 20, 2019, 11:00 AM

12. "I wonder what poor, hardworking, taxpaying suckers are doing today?" - Dirty Donny* (R)

* aka republican Draft-Dodger-in-Chief

?quality=85&w=1024&h=512&crop=1

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Response to Miles Archer (Original post)

Mon May 20, 2019, 11:28 AM

13. Why would a billionaire need to borrow a few million?

Someone is lying about their financial status. A billion is one thousand million so a billionaire should not need to borrow such a paltry amount, relatively speaking of course.

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Response to Miles Archer (Original post)

Tue May 21, 2019, 06:57 AM

14. He's lying

And probably broke and in debt for billions. Never trust a con man for the truth.

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