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Tue Feb 23, 2021, 05:10 AM

Trump has to run to use campaign funds to pay his debts with,

His only hope of paying his huge debt bills coming soon is to grift his followers and any big donors left ,that haven't run from him, to pay his bills with. Expect him to be claiming all kinds of bs to use to get money from his followers into his pockets. And to pay for his legal bills . He could also grift money from other countries claiming if elected he could be influenced to help them. Its all about the grift now. Big donors and corporations are running from him and Republicans.

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Reply Trump has to run to use campaign funds to pay his debts with, (Original post)
duforsure Feb 23 OP
BlueTsunami2018 Feb 23 #1
Auggie Feb 23 #2
Hoosier Feb 23 #5
Auggie Feb 23 #16
Snoopy 7 Feb 23 #3
duforsure Feb 23 #4
brooklynite Feb 23 #6
soothsayer Feb 23 #8
brooklynite Feb 23 #12
Mister Ed Feb 23 #9
central scrutinizer Feb 23 #13
brooklynite Feb 23 #14
Jon King Feb 23 #7
LittleGirl Feb 23 #10
tanyev Feb 23 #11
Johnny2X2X Feb 23 #15

Response to duforsure (Original post)

Tue Feb 23, 2021, 05:42 AM

1. Didn't he just make $1.6 billion while in office?

How much can he owe out?

I guess we’ll see.

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Response to duforsure (Original post)

Tue Feb 23, 2021, 06:05 AM

2. More money woes for Trump:

The Trump organization has a 30% stake in 555 California Street, other wise known (in San Francisco) as The Bank of America Building.

The 555 California Street building, which the Trump family co-owns, is no longer for sale, and Trump can’t be happy that he won’t get his $1.5 billion payout.

It’s no secret that President Trump is a co-owner of the 555 California Street office building, or rather, the Trump family owns a 30% share of the building. The majority, controlling owner is a corporate real estate firm called Vornado Realty Trust, though the property is listed on Trump.com too. The property has also been listed for sale since the summer, leaving the Trump family in line for an estimated $1.5 billion payout (if the $5 billion asking price were met) at a time when they’ve got at least $421 million in debt coming due.

But hold on to your Ivanka handbags, kids, because that $1.5 billion is no longer in the pipeline. The Wall Street Journal broke the news that 555 California has been taken off the market, and the Trumps’ billion-dollar windfall won’t be coming anytime soon. The Journal’s report is behind a subscription paywall, but the news is also reported in the San Francisco Business Times, if you want to start plotting your Hitler “Downfall” parody video of “Trump finds out he’s not getting his $1.5 billion.”

The Chronicle got a full statement out of the Cushfield & Wakeman executive handling the sale of the 52-story former Bank of America headquarters, and it’s a tour de force of evasion and real estate industry bullshit. “Now with the election uncertainty behind us and with much more clarity and positive news surrounding the vaccine’s efficacy and speed to market, we are now focusing more on refinancing both assets and are leaning toward re-offering and/or recapitalizing the package in 2021, when the durability of the cash flows is even more valued,” he said.

The Wall Street Journal has the more pointed assessment that Vornado Realty Trust “decided to shelve the sales process when it couldn’t attract a buyer at the prices it wanted.”

https://sfist.com/2020/11/23/sfs-trump-tower-taken-off-the-market-denying-trump-big-payday/


The article proceeds to say that "... the building will not sell, not in the near term at least" and that (The Wall Street) Journal says that they’ll now try to refinance both buildings," adding, “The Trumps are unlikely to receive much if any cash from refinancing.”

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Response to Auggie (Reply #2)

Tue Feb 23, 2021, 06:45 AM

5. I think you're overestimating his lost cash flow from the non-sale

Per the article, "focusing more on refinancing both assets and are leaning toward re-offering and/or recapitalizing the package in 2021" means there is already debt on the building and they plan to borrow more against it for tenant improvements, etc. So the sales proceeds would have to payoff any debt tied to the building. My guess is that property is pretty damn leveraged like everything else he is tied to.

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Response to Hoosier (Reply #5)

Tue Feb 23, 2021, 10:53 AM

16. I'm not overestimating anything. All numbers come from the link.

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Response to duforsure (Original post)

Tue Feb 23, 2021, 06:15 AM

3. of course

That is what I have been saying about this fake reelection crap from the start it's a con and a grift. He has no money and anyone he owes now want their money. The banks are calling for their money and his master Putin is asking for his money. I'm not talking hundreds, thousands but millions upon million. He is the failed fraud he's always been all one had to do was look past the media and see to see what he is.

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Response to Snoopy 7 (Reply #3)

Tue Feb 23, 2021, 06:27 AM

4. Couldn't agree more.

trump's claims of wealth are about to be exposed. He's a fraud just like Mitt claimed he was years ago. Its all about the grift now for trump, and defrauding his followers.

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Response to duforsure (Original post)

Tue Feb 23, 2021, 06:48 AM

6. Sorry, you're wrong...

Funds for a POLITICAL CAMPAIGN, can only be used for campaign activities, or contributed to other candidates or to a non-profit. They can't be transferred to a for-profit business.

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Response to brooklynite (Reply #6)

Tue Feb 23, 2021, 07:35 AM

8. Except he does it over and over

And will probably continue to do so

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Response to soothsayer (Reply #8)

Tue Feb 23, 2021, 08:30 AM

12. No, he doesn't

He pays for and holds events at his personal hotels, but that's not the kind of fund transfer that will get out from underneath his indebtedness.

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Response to brooklynite (Reply #6)

Tue Feb 23, 2021, 07:39 AM

9. They can find ways to grift campaign funds.

They can be creative. The campaign can pay huge salaries to Trump family members, or pay top prices for accommodations when holding events at Trump properties, or grant bloated contracts to Trump-owned businesses hiding behind shell companies, or...

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Response to brooklynite (Reply #6)

Tue Feb 23, 2021, 08:59 AM

13. His "election defense fund" was pure grift

https://www.khou.com/article/news/verify/donald-trump-has-raised-200-million-dollars-where-will-it-go/65-0b5c323d-e6d2-4ac4-827f-2fac647ea53d

“So since Election Day, Trump has been fundraising furiously asking for donations to support his post-election litigation and recount costs,” Brandon Fischer said.
“The fine print shows knows that the money is actually going elsewhere.”



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Response to central scrutinizer (Reply #13)

Tue Feb 23, 2021, 08:59 AM

14. That was not a campaign fund...

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Response to duforsure (Original post)

Tue Feb 23, 2021, 07:06 AM

7. The house of cards will collapse day by day....

The Trumps have zero real talents or money making ability as a family. The properties are heavily leveraged, the rubes sending them money will eventually wind down their donations, most of their funds the past few years have been either these donations or using the properties for political functions. The Trump DC hotel is said to be a ghost town these days.

With the coming civil and criminal cases, along with the dwindling revenues, its just a matter of time before we see the Trump name being liquidated all over the place. My hunch in someday 30 years from now TMZ is publishing video of Trump's various grand children with the caption "Hated Trump family descendant seen panhandling on Tampa street".

This entire family has made enemies for generations and does not have the true family wealth to carry on once this collapses.

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Response to duforsure (Original post)

Tue Feb 23, 2021, 08:01 AM

10. Wasn't there multiple cities that he owed millions to

for his rally’s security? Why don’t those cities file suits against the campaign so he will pay his bills!

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Response to duforsure (Original post)

Tue Feb 23, 2021, 08:07 AM

11. It'd be a shame if he drained the entire Republican party dry.

A real shame.

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Response to duforsure (Original post)

Tue Feb 23, 2021, 09:12 AM

15. Trump won't go broke

Even if he does it won't look like going broke. He owes, but he he has assets he can still borrow against. His whole empire is built on credit and paying for his lifestyle out of corporate funds.

People waiting for him to be in the poor house don't get it, he can't go broke, he doesn't manage his finances like you or I do. He's gaming the system and it will continue to his death.

And he's under no threat of jail either.

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