I'll Make America Broke Again!

"At most he has at least $165 million, which is great by any standard that's a lot of money. But when you're trying to finance a presidential campaign, it's nothing," Cuban said.

Cuban explained any politician can claim whatever net worth he or she wants because there are ways to manipulate the amount of cash on hand when filling out tax returns.

But Cuban explained Federal Election Commission filings are a different story.

"You can't fake it on an FEC filing and he tried to fake his FEC filing as much as he could and maybe he'll get in trouble for that," Cuban said.

Trump knows he does not have enough money to self-fund his campaign through November, should he officially win the nomination next month and that's what has prompted him to ask the Republican National Committee for help, Cuban added.

http://www.washingtonexaminer.com/mark-cuban-trump-cant-afford-to-self-f...

What I always suspected. Not only is he a rude, arrogant, blow hard, a thin skinned, reactionary, ignoramous, a willfully ignorant, self-centered, blow-hard, but his most redeeming qualities are that he is both a fraud and con-man.

Every time a friend or acquaintance admits they are a trump supporter, I take pains to inquire as to why. The basis, the reasoning, the or the emotion which drives their decision, the most common, by far, is Trump's business acumen.

Once they find out that he is simply a fraud, as they say "burn me once shame on me, burn me twice, Ouch, Ouch!"

Many in the GOP side of the political scale have been anxiously searching for a reason to abandon D' trump Affaire. The easiest way is to turn off all GOP spigots, tell Teh Donald that they won't share fundraising data with him, and that they won't support his efforts doing the same.

It has already happened. The Kochs publicly stated no $$$ for Cleveland, and no $$$ for Teh Donald.

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According to an article in the Philadelphia paper years ago, 4 of Trumps casinos were headed for bankruptcy because of mismanagement and being over-extended. Among the spending were several large jet liners. The banks did not want the casinos because they allegedly thought that when Trump lost control of the properties, his casino license would be pulled. They should have known better(and probably did) because NJ law allows for an extension of the casino license in these circumstances.
Trump appealed to the Gaming Commission and got the 4 votes he needed to bail him out. The article said Trump issued and sold stock which became worthless in a less then decent interval.
So here's the great businessman, another one, being rescued by the government - NJ in this case.
I read elsewhere, Trump gets most of his income from renting out his name to others for commercial use.

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"The justness of individual land right is not justifiable to those to whom the land by right of first claim collectively belonged"

was in the Inquirer about 25 years ago at the times of Trump's troubles.

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"The justness of individual land right is not justifiable to those to whom the land by right of first claim collectively belonged"

PastorAgnostic's picture

A financial mess?

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Will he run indie? Would he just step aside? Would he tear apart the entire system?

I know it's not very likely, but there's suddenly a lot of dissension in the Republican ranks, and it's creating a lot of interesting dynamics for potential third party candidates.

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PastorAgnostic's picture

Probably next week maybe the weak (ahem) after.

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http://www.nytimes.com/2016/06/12/nyregion/donald-trump-atlantic-city.ht...

All about how he f****d lenders, partners, investors, and small-business owners while extracting millions from failing casinos for personal use -- and lied about the history during debates.

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Euterpe2

PastorAgnostic's picture

Plum full of facts and history.

His casino companies made four trips to bankruptcy court, each time persuading bondholders to accept less money rather than be wiped out. But the companies repeatedly added more expensive debt and returned to the court for protection from lenders.

After narrowly escaping financial ruin in the early 1990s by delaying payments on his debts, Mr. Trump avoided a second potential crisis by taking his casinos public and shifting the risk to stockholders.

And he never was able to draw in enough gamblers to support all of the borrowing. During a decade when other casinos here thrived, Mr. Trump’s lagged, posting huge losses year after year. Stock and bondholders lost more than $1.5 billion.

All the while, Mr. Trump received copious amounts for himself, with the help of a compliant board. In one instance, The Times found, Mr. Trump pulled more than $1 million from his failing public company, describing the transaction in securities filings in ways that may have been illegal, according to legal experts.

It goes on to say that today, Trump brags about
A. How much money he personally took out of those businesses
B. How HE was the one to get out at the right time
C. How he hated and would not use junk bonds to fix his Atlantic City casinos.

In reality, the money he took out was illegal, he took personal debt and loaded it into the casinos and company, and when he went public (because he was such a shitty businessman) he saddled even more debt onto his new shareholders. Hurrahs and others were leaving Atlantic city in 2006. Trump kept on til 2009 when he was pushed out by an angry board. And, two months after he told regulators he hated junk bonds, he issued more than $800 MILLION in them.

Funny, his daughter wanted to sue Trump Marina because the place had turned so ratty and filthy.

Why is he not in jail, and why do some republicans still support him? He is a crook, a conman, a louse.

Oh, yes. He brags that he brought in 8000 jobs into Atlantic City. He does not say how many thousands were jilted out of their money, how many contractors were left unpaid, and how many companies he destroyed in the process.

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trump is a crook and everyone here knows hrc is a crook and a warmonger,so what is your point?

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PastorAgnostic's picture

Hmm.

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