‘Ever since debt was invented in ancient Sumer, there have probably been people enriching themselves through bad investments. The trick is to make these investments using other people’s money.’
‘Suppose, for example, that a wheeler-dealer uses borrowed funds to make risky investments in New Jersey casinos. If the investments somehow end u…
‘Ever since debt was invented in ancient Sumer, there have probably been people enriching themselves through bad investments. The trick is to make these investments using other people’s money.’
‘Suppose, for example, that a wheeler-dealer uses borrowed funds to make risky investments in New Jersey casinos. If the investments somehow end up making money, he can pocket the profits. But if the investments fail, he may — if he’s been tricky about the wording in his loans or manages to persuade his creditors not to go after his other assets — be able to walk away and leave other people holding the bag. That is, it’s heads he wins, tails the creditors lose.’
‘He may also be able to siphon off some of the borrowed money, say by having the casinos pay him or businesses he owns large sums for various services before they go bust.’
‘As readers may have guessed, this isn’t a hypothetical example. It is the story of Donald Trump’s New Jersey casino empire, a venture ending in multiple bankruptcies that was a disaster for outside investors but appears to have been quite profitable for Trump.’
Hey, most NYC voters knew the CONMAN for what he was and is. Who is more obvious than D.J. Trump? What we, New Yorkers, don’t get is why so many Americans have taken the bait. Those are some ‘exceptionals’!
What fools they are, when not far worse!
‘Trump declared on social media that “my Civil Rights have been taken away from me” and that he borrowed money from “sophisticated Wall Street banks” that presumably wouldn’t have been easily deceived by fraud. If you know anything about Wall Street’s attitudes toward Trump, that’s a real hoot.'
'For years, only one major Wall Street player, Deutsche Bank, was willing to deal with him at all, leading to much puzzlement about that bank’s motives. And eventually Deutsche Bank also pulled the plug, citing concerns about his financial claims. Trump did manage to pay off that debt, although it’s a mystery where he found the cash. But as I just explained, getting lucky is no excuse for fraud.’
‘What’s remarkable about Engoron’s finding that Trump committed large-scale fraud (it’s now a ruling, not a mere accusation) is what it says about the man who became president and the voters who supported him.’ (Paul Krugman, NYTimes) See gifted link below.
Follow the money to its source. Looted oligarch money from the carcasses of the USSR laundered through Moldova Cyprus and who knows where. DB was all to eager to cash in. And Trump was a useful idiot who could be bought
‘Ever since debt was invented in ancient Sumer, there have probably been people enriching themselves through bad investments. The trick is to make these investments using other people’s money.’
‘Suppose, for example, that a wheeler-dealer uses borrowed funds to make risky investments in New Jersey casinos. If the investments somehow end up making money, he can pocket the profits. But if the investments fail, he may — if he’s been tricky about the wording in his loans or manages to persuade his creditors not to go after his other assets — be able to walk away and leave other people holding the bag. That is, it’s heads he wins, tails the creditors lose.’
‘He may also be able to siphon off some of the borrowed money, say by having the casinos pay him or businesses he owns large sums for various services before they go bust.’
‘As readers may have guessed, this isn’t a hypothetical example. It is the story of Donald Trump’s New Jersey casino empire, a venture ending in multiple bankruptcies that was a disaster for outside investors but appears to have been quite profitable for Trump.’
Hey, most NYC voters knew the CONMAN for what he was and is. Who is more obvious than D.J. Trump? What we, New Yorkers, don’t get is why so many Americans have taken the bait. Those are some ‘exceptionals’!
What fools they are, when not far worse!
‘Trump declared on social media that “my Civil Rights have been taken away from me” and that he borrowed money from “sophisticated Wall Street banks” that presumably wouldn’t have been easily deceived by fraud. If you know anything about Wall Street’s attitudes toward Trump, that’s a real hoot.'
'For years, only one major Wall Street player, Deutsche Bank, was willing to deal with him at all, leading to much puzzlement about that bank’s motives. And eventually Deutsche Bank also pulled the plug, citing concerns about his financial claims. Trump did manage to pay off that debt, although it’s a mystery where he found the cash. But as I just explained, getting lucky is no excuse for fraud.’
‘What’s remarkable about Engoron’s finding that Trump committed large-scale fraud (it’s now a ruling, not a mere accusation) is what it says about the man who became president and the voters who supported him.’ (Paul Krugman, NYTimes) See gifted link below.
https://www.nytimes.com/2023/09/28/opinion/donald-trump-fraud-case.html?unlocked_article_code=LLYQHqw6BBq86-qH4zhpe4w5vWh0Yzcnm34EYzg2-ou9N1LjL_JPAKXMxmS4GbX9hRBR8IEDk1GPdYoIJnQbDyJYGPi21fApapl2iiszYBSNG8xS5LmtfF2VcRChs_nfdSH7q9GqFv3zZ21Wxh-eDOCvV9Q-k1ekA-xFooC7-GvaNIeTbXnrR0PvAyAvkrhnNF50xaaW8w9fQutFbcbPn8kIUnd3Ce8nfNJhpIR--7WAk51EKO4M7vkvlYdJI_hQREKvhU4XdS3T0alArdXa9PeuHnjiEO6O_7hA6b6rxUBDjd3HnzJnkAtPcpy7lq-Lgb5wYfAYv7QbyZCBTm0zCuQ&smid=url-share
Innocent until proven guilty. Well, now we can truly say "guilty". Well done Judge Engoron, and thanks Fern!
Mr. Abbott, shall we count the ways DJ Trump is a villain?
-Abuser
-Adulterer
-Anarchist
-Big Bad
-Bio-Engineered
-Bond Destroyer
-Brainwasher
-Brute
-Businessman
-Cataclysm
-Cheater
-Collector of Souls
-Conspirator
-Control Freak
Mr. Abbott, DJ Trump is such a combination of villains, there isn't enough space to count the ways. Let us end with -- 'shame the devil' Americans.
OH Fran, you stopped your alphabet recital too soon!
We all know what "F" word we'd assign to him!
:-D
And R word as well.
"Bio-Engineered" Hope there are no leaks from that lab! 😈
Fern. You forgot narcissist.
Suzanne, DJ Trump wears many villain hats. To cover them all would have filled the forum.. I had to quit on letter 'c' and still going strong.
Follow the money to its source. Looted oligarch money from the carcasses of the USSR laundered through Moldova Cyprus and who knows where. DB was all to eager to cash in. And Trump was a useful idiot who could be bought
Oh well, y'know..."Deutsche" - that's a foreign word - must be sophisticated, no?