Donald Trump's Latest Financial Disclosure Was Just Released

[Arkansas Granny]

President Donald Trump’s latest personal financial disclosure was just released, showing that Trump, who already owed more money than any other president in history, borrowed millions more in 2018.

According to the disclosure, Trump borrowed between $5 million and $25 million from Professional Bank, a small Florida outfit that specializes in construction and real estate loans. He borrowed the money at 4.5 percent interest through a limited liability company called 1125 South Ocean LLC. The loan was used to finance the purchase of 1125 South Ocean Avenue, a mansion located next door to Trump’s Mar-a-Lago club and owned by the president’s sister, Maryanne Trump Barry. Last year, Palm Beach-area newspapers reported that Trump’s sons, Donald Jr. and Eric, had purchased Barry’s property for $18.5 million. But Trump’s financial disclosure indicates that in fact he controls the company behind the transaction. Though assets and liabilities are reported in ranges on financial disclosure forms, land records show that the value of Trump’s newest loan $11.2 million.

https://www.motherjones.com/politics/2019/05/donald-trumps-latest-financial-disclosure-was-just-released/

[ProudLib72]

1. How could any bank be dumb enough to give him a loan?

Do they not remember what happened in 2008? I suspect Professional Bank will soon be operating under the auspices of the federal government, whereupon, the Rump can alter his interest payments. Maybe 50 years at 0% interest? Even then he will still be up shit creek.

[TheBlackAdder]

7. Gee, it almost sounds like the bank could be expecting some kind of quid pro quo.

[dumbcat]

11. I would guess they are expecting

the title to the property as security for the mortgage loan. That's the way it's normally done.

[ProudLib72]

12. He lost over $1 billion in the last few years.

You would think the loan officer would check into things like that. Risk assessment...

I really don't know how big the risk is if they hold the title. Maybe bazillion dollar mansions sell easily. I don't know. But the Rump has made a habit of buying high and selling low in the past. Everything he touches turns to shit. I wouldn't touch him with a barge pole.

[TheBlackAdder]

17. I'm sure they did, and it was overridden at a higher level.

[dumbcat]

10. Maybe the same way they loan money to

other house purchasers? They probably have title to the house as security. It's called a mortgage for folks like us.

[Hotler]

14. The bank launders drug money?????? nt

[ProudLib72]

18. Now that I believe. Let's print it!

A lot of good it would do anyway.

[smirkymonkey]

15. I suspect "Professional Bank" is actually Sergei's Bank D/B/A

Professional Bank. Has anyone actually heard of Professional Bank before now?

No reputable bank will give him a loan. This stinks to high hell.

[Grasswire2]

2. where is Professional Bank getting its money?

Mob?

Russia?

Russian mob?

[renate]

4. Does "Professional Bank" as a name even make sense?

It doesn’t sound like it was named by anyone who speaks English as a first language, that’s for sure.

In other words, I would not be surprised at all if you were correct.

[smirkymonkey]

16. Exactly! It sounds like something a Russian mobster would come up with

to sound like a legitimate front. I'm calling foul.

[Totally Tunsie]

3. Why, in 2018 while he is pResident, is HE conducting any business at all?

He's supposed to be completely removed from the business dealings of any of his companies.

[madinmaryland]

5. I don't think he does any presidenting at all.

Mitch and Vladimir seem to be calling the shots.

[Grasswire2]

8. because he is (apparently) above the law...

....and both Houses of Congress allow it.

[Arkansas Granny]

9. And that's a sad state of affairs on its own.

I am so sick of this clown.

[uponit7771]

13. +1, That alone should get him impeached !!!

[UTUSN]

6. K&R