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Wed Mar 25, 2020, 11:06 AM

Trump-Owned Companies Banned From Virus Aid in Stimulus Bill

Source: Bloomberg

The $2 trillion stimulus plan agreed to by White House and Senate leaders would ban any company controlled by President Donald Trump or his children from receiving loans or investments from Treasury programs.

According to a summary circulated by the office of Democratic leader Chuck Schumer, businesses owned by the president, vice president, members of Congress or heads of executive departments would be excluded from receiving that aid. The block also would also extend to companies controlled by their children, spouses or in-laws.

rump broke with the practice of previous presidents who either divested assets that could cause conflicts of interest or put those assets in blind trusts. Instead, Trump transferred his assets to a revocable trust administered by his elder son, Donald Trump Jr., and Allen Weisselberg, the chief financial officer of the Trump Organization. Several Trump-branded properties have been affected by the virus-induced demand crash, as well as state and local restrictions on going out in public.

The package, agreed to early Wednesday morning, would roll out billions in assistance for companies and states and cities, checks to most Americans and loans to small businesses to maintain payroll. The Senate is expected to vote later Wednesday on the measure.

Read more: https://www.bloomberg.com/news/articles/2020-03-25/trump-owned-companies-banned-from-virus-aid-in-stimulus-bill?srnd=premium

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Arrow 20 replies Author Time Post
Reply Trump-Owned Companies Banned From Virus Aid in Stimulus Bill (Original post)
left-of-center2012 Mar 25 OP
Zorro Mar 25 #1
LymphocyteLover Mar 25 #10
world wide wally Mar 25 #11
Mr.Bill Mar 25 #19
Thomas Hurt Mar 25 #2
charliea Mar 25 #20
getagrip_already Mar 25 #3
DENVERPOPS Mar 25 #4
left-of-center2012 Mar 25 #12
DENVERPOPS Mar 25 #14
HarlanPepper Mar 25 #16
Hugin Mar 25 #5
cstanleytech Mar 25 #6
lamp_shade Mar 25 #7
iluvtennis Mar 25 #8
old guy Mar 25 #9
ancianita Mar 25 #13
Pepsidog Mar 25 #15
W T F Mar 25 #17
Yavin4 Mar 25 #18

Response to left-of-center2012 (Original post)

Wed Mar 25, 2020, 11:07 AM

1. Wouldn't be surprised if Trump vetoes the bill because of this

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Response to Zorro (Reply #1)

Wed Mar 25, 2020, 01:21 PM

10. I'd like to say "no way", but sadly, he is just that greedy

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Response to Zorro (Reply #1)

Wed Mar 25, 2020, 01:33 PM

11. I would be shocked if he didn't veto it

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Response to Zorro (Reply #1)

Wed Mar 25, 2020, 04:36 PM

19. His veto would be over-ridden by both houses of Congress.

But I bet he will go to the courts about it. (and lose)

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Response to left-of-center2012 (Original post)

Wed Mar 25, 2020, 11:08 AM

2. He does not need any of this money, he is a billionaire and can get more loans from Putin.

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Response to Thomas Hurt (Reply #2)

Wed Mar 25, 2020, 07:54 PM

20. Well at least one premise is wrong...

Trump isn't a billionaire. And why should Putin loan him anything? Putin may cut the tRump loose from the money trough though. He's already succeeded in breaking our government, what does he need the orange doughboy for now? Besides having the American President crash and burn after killing a couple of million Americans would really be the cherry on his sundae.

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Response to left-of-center2012 (Original post)

Wed Mar 25, 2020, 11:14 AM

3. senate aids must read du.....

Or think along the same lines. This has been brought up multiple times.

But it is all too easy to get around using sham corporations and through kickbacks from friendly business owners.

Hopefully we can afford to beef up forensic accounting in the post trump doj.

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Response to left-of-center2012 (Original post)

Wed Mar 25, 2020, 11:18 AM

4. This is laughable

Very careful wording by Republicans. Very deceitful and the Dems were terribly guilible. Unless, once again the Dems felt that they had to give Donnie and the Republicans SOME grifted money in order to get something for all of us 99%ers......

LOL LOL LOL

How many times have we heard Trump INSIST he has turned over the Companies to Donnie Jr, Ivanka, and Jared.
The true "ownership" of said companies is a fine line, but since it is a republicans that will be doling out the money, we can
be absolutely sure that he will feel that "technically" the Trump Company is owned by his spawn.

In all of American history, there has never been a more corrupt group of individuals as the current Republicans, by far.....

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Response to DENVERPOPS (Reply #4)

Wed Mar 25, 2020, 01:37 PM

12. "technically" the Trump Company is owned by his spawn

As posted:
would ban any company controlled by President Donald Trump or his children"

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Response to left-of-center2012 (Reply #12)

Wed Mar 25, 2020, 02:02 PM

14. Didn't see that in the description

However, who is gonna prosecute him for violating that stipulation? BARR's DOJ.........The REPUBLICAN SENATE?........

Another point is just how long do you suppose it will take the Trump administration to actually put the token money they voted for into the taxpayers hands?????

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Response to DENVERPOPS (Reply #4)

Wed Mar 25, 2020, 02:08 PM

16. Yes

Nancy and Chuck were all just gullible fools and anonymous internet posters have all the answers.

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Response to left-of-center2012 (Original post)

Wed Mar 25, 2020, 11:27 AM

5. Cool story, bro.

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Response to left-of-center2012 (Original post)

Wed Mar 25, 2020, 11:30 AM

6. Trumps counting on the corporations he bailed out paying him back by staying at his hotels and

resorts.

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Response to left-of-center2012 (Original post)

Wed Mar 25, 2020, 11:40 AM

7. The humble person that he is, he'll say it was his idea to include in the bill

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Response to left-of-center2012 (Original post)

Wed Mar 25, 2020, 12:08 PM

8. Great news! nt

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Response to left-of-center2012 (Original post)

Wed Mar 25, 2020, 12:29 PM

9. Doe it include shell companies?

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Response to old guy (Reply #9)

Wed Mar 25, 2020, 01:56 PM

13. +1!

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Response to left-of-center2012 (Original post)

Wed Mar 25, 2020, 02:05 PM

15. Trust me, Trump and family are getting some money from that fund. Bet your house on it.

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Response to left-of-center2012 (Original post)

Wed Mar 25, 2020, 02:11 PM

17. Dems should plug all loopholes.........

Donít think he canít hand money out to friendly corporations, who will donate it to his reelection campaign.

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Response to left-of-center2012 (Original post)

Wed Mar 25, 2020, 02:28 PM

18. What about Kushner's businesses? n/t

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