HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Trump, whose hotel busine...

Tue Mar 24, 2020, 08:23 PM

Trump, whose hotel business is losing millions, says 'I'll be the oversight' of $500 billion

One of the big sticking points in a $1.8 trillion coronavirus bailout package Senate Republicans are trying to pass is a $500 billion fund for hard-hit businesses and state and local governments. Treasury Secretary Steven Mnuchin would decide the recipients of $425 billion of that money, and the legislation contains no new oversight provisions for how it's doled out, leading Democrats to warn that Mnuchin could use this "slush fund" to bail out politically connected corporations, GOP donors, and even President Trump's private business.

When asked about those concerns during a press conference Monday evening, Trump said: "I'll be the oversight, I'll be the oversight. We're gonna make good deals."

Democrats were not mollified. Trump declined to answer Sunday when asked if his hotel and hospitality businesses would seek some of the prospective bailout money. "Everything's changing, just so you understand, it's all changing," he said. "But I have no idea." While Trump is president, his sons Don Jr. and Eric are running the family business, and like the hotel industry as a whole, the family business is getting hit very hard by the coronavirus pandemic.

Trump's business owns 11 hotels around the world, and "six of its top seven revenue-producing clubs and hotels" have been shuttered because of restrictions meant to halt the spread of COVID-19, The Washington Post reports. Those hotel and clubs ó in Las Vegas, southern Florida, New Jersey, Ireland, and Scotland ó bring in about $174 million a year in revenue, or $478,000 a day, according to Trump's most recent financial disclosures, the Post reports.

Read more: https://theweek.com/speedreads/904323/trump-whose-hotel-business-losing-millions-says-ill-oversight-500-billion-coronavirus-slush-fund

5 replies, 372 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 5 replies Author Time Post
Reply Trump, whose hotel business is losing millions, says 'I'll be the oversight' of $500 billion (Original post)
Galraedia Mar 24 OP
dhol82 Mar 24 #1
Blue Owl Mar 24 #2
SBoy Mar 24 #3
Wellstone ruled Mar 24 #4
Cicada Mar 25 #5

Response to Galraedia (Original post)

Tue Mar 24, 2020, 08:25 PM

1. Jeebus!!! He wants to be the Fox in the hen house.

Holy fuckk!

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Galraedia (Original post)

Tue Mar 24, 2020, 08:30 PM

2. Put your trust in Don Bankruptcy

n/t

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Galraedia (Original post)

Tue Mar 24, 2020, 08:34 PM

3. According to Thom Hartman, Trump's debt service

Runs about $500,000 a day. His incentive to get America up and running by Easter is strictly personal.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Galraedia (Original post)

Tue Mar 24, 2020, 08:50 PM

4. Well dipshit,Nancy fix that so your corupt ass will never have that chance.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Galraedia (Original post)

Wed Mar 25, 2020, 03:13 AM

5. Dems got provision blocking stimulus for top officials

President, members of Congress, other top officials canít get bail out funds.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread