another TPM Gem - "Maybe the Answer Is That He Can't Divest"

[NRaleighLiberal]

wow. just wow.

http://talkingpointsmemo.com/edblog/maybe-the-answer-is-that-he-can-t-divest

By JOSH MARSHALL Published DECEMBER 8, 2016, 7:25 PM EDT

"Since Donald Trump's surprise election one month ago, there's been a bubbling conversation about the mammoth conflicts of interest he will have if he is running or even owning his far flung business enterprises while serving as the head of state. I've suggested that the whole notion of 'conflicts of interest' doesn't really capture what we're dealing with here, which is really a pretty open effort to leverage the presidency to expand his family business. But a couple things came together for me today which make me think we've all missed the real issue.

Maybe he can't divest because he's too underwater to do so or more likely he's too dependent on current and expanding cash flow to divest or even turn the reins over to someone else.

Late this afternoon we got news that Trump will remain as executive producer of The Apprentice, now starring Arnold Schwarzenegger. That is, quite simply, weird. The presidency is time consuming and complicated, even for the lazier presidents. Does Trump really need to do this? Can he do it, just in terms of hours in the day? Of course, it may simply be a title that entitles him to draw a check. But does he need the check that bad?

The idea that Trump is heavily leveraged and reliant on on-going cash flow to keep his business empire from coming apart and collapsing into bankruptcy was frequently discussed during the campaign. But it's gotten pretty little attention since he was elected."

snip

read it all!

[yallerdawg]

1. What if he only has licensing revenue?

Five figures for a season of that show, and he can't give that up?

I mean, a long time ago even MSNBC's Lawrence O'Donnell said there was no way Corrupt Trump could have the income he claimed from that TV show based on the ad revenue reported - O'Donnell said it didn't add up - none of his money added up - and then he was silenced and back to 10/9c.

Maybe the idiots just elected the next Bernie Madoff?

[blm]

2. Makes sense from all that has been gathered.and NOT gathered.

.

[Cracklin Charlie]

3. Kick for later.

[Me.]

4. A Ponzi Strucrue Of Sorts?

[Raster]

23. Yes. Most likely highly over-leveraged and lives of credit and loans...

...from questionable sources, i.e., Russian oligarchs and banks loyal to Putin.

[Mr.Bill]

5. I have always thought that Trump's

true net worth was a negative number.

[SHRED]

6. Who else is sick of "conflict of interest"?

It's called bribery and/or corruption.

[TeamPooka]

10. +100

[Roy Rolling]

7. Cheap credit

Handing out Executive Producer credits to non-involved people means Trump's contribution to the show is as a financial vacker---which he isn't. So it is just a vanity title, which turns the show into a Trump-named enterprise worth more or less to advertisers.

The best revenge would be for advertisers to dump the show and let it get cancelled, but it won't happen.

Right-wingers pay for Lame, propaganda-laced "entertainment" every day. They also love their Fuhrer.

[world wide wally]

9. This has been my question:

Did he have to "prove" he lost one billion $ when he claimed that on his Income Tax in 1996?
If it is determined he was lying about that, can he be jailed for tax evasion?
How soon?

[BobTheSubgenius]

13. That he lost a billion dollars is easily..

...the most believable thing that's come out of his camp in - I was going to say over a year, but it's the most believable ever.

[Pachamama]

11. Bookmarked and kicked

Because I believe this is where the answers are as to why he ran and who controls him and is backing him...

Follow the money (or lack thereof) and where it flows....

[DK504]

12. This normalization of corruption is beyond corrupt

Tis is Bull shit.

[BobTheSubgenius]

14. The suggestion that he is heavily leveraged is beyond any dispute, I think.

Given his business strategy, I can't imagine his portfolio being anything but heavily leveraged. The question is whether it is overly leveraged, and this article is a strong indicator.

PURE conjecture here, but what if rumblings like this start to intrude on the everyday conversation about Drumpf? If there are significant public holdings, could uneasiness among the investors break the dam open?

If this tangerine nutsack finds occasion to quote a Bible verse, he could become conversant with Jericho.

[Moral Compass]

15. what if this is why he ran?

What better way to avoid bankruptcy than build your brand by taking over the wealthiest country in the world?

If that is what has happened then he is way smarter and far more ruthless and conniving than anyone could have dreamed.

It really is looking like the electorate has been played.

It would kill me to admit that this mountebank has pulled off the biggest con in the history of the world because it would mean I'd have to admit that he is truly brilliant.

[Crash2Parties]

16. Think of him more like a savant - he's not brilliant but he does have one skill - grifting

that appears to be instinctive in him.

Of course, that description would fit for "socioopath", too...


A lack of shame
Constant lying, manipulation, or attempts at isolation
Ability to remain calm, even in extreme circumstances
Charm, intelligence, huge ego, and immaturity
Uncalled for violent behavior

[PatSeg]

31. Yes, I agree

"Brilliant" does not come to mind. More a skillful grifter, but even a grifter has to have a very gullible and willing following. A well educated populace would have never fallen for his bullshit.

[Crash2Parties]

32. Hey, half of our Nation was brought up to worship an irrational, inconsistent authority figure.

Trump is just the continuation of the same.

[PatSeg]

33. I would have imagined that such a figure

would have had more charisma and charm. If I were casting such a character in a movie, he would not look or sound anything like Trump.

[CRH]

17. When will we see IRS returns? n/t

[Raster]

22. tRump9 will NEVER show his tax returns...

...because they will show:

1. He is NOT a billionaire, and is not worth anywhere near what he says he is;
2. He gives NO MONEY TO CHARITY;
3. He is dramatically over-leveraged;
4. He has taken money from Russian oligarchs and banks loyal to Putin; and
5. Has questionable investments around the world that would/could clearly be conflicts of interest.

[lavenderdiva]

24. do presidents have to release their tax returns yearly?

IIRC all of the presidents I have seen have released their tax returns yearly. Does Trump have to do this when/if he becomes President?

[Raster]

25. Retracting this...

This is for Presidential candidates...

https://www.washingtonpost.com/opinions/many-public-officials-must-share-their-tax-returns-why-not-the-president/2016/08/17/196e2b8c-63f2-11e6-be4e-23fc4d4d12b4_story.html?utm_term=.b813b99858db

By Mark A. Patterson
August 17

Mark A. Patterson was Democratic staff director and chief counsel of the Senate Finance Committee from 1995 to 1999 and chief of staff at the Treasury Department from 2009 to 2013. He is a partner in the Perkins Coie law firm, which provides legal services to the Clinton campaign; he is a supporter of Hillary Clinton but does not personally represent her campaign.

The debate over Donald Trump’s tax returns overlooks an important point: The lack of any mechanism to require presidential candidates to disclose their returns means that our system holds candidates for the nation’s highest office to a much lower standard than many applicants for lesser federal positions.

<snip, more>

[bucolic_frolic]

18. Can't divest? Chapter 7 Liquidation is fine with me

[jg10003]

19. he can establish a blind trust without divesting

[csziggy]

26. Any legitimate financial advisor would not go along with Trump's shenanigans

If as we suspect Trump's financial situation is dubious at best. That must be why Trump wants his family to handle his business - they are already invested in maintaining the facade of wealth while juggling his various debts and obligations.

[Coyotl]

20. Financial Ponzi Scheme?

[jmowreader]

21. Wouldn't that be a hoot?

This could be very entertaining. If he IS running a Ponzi scheme - which would explain why he won't release his taxes - he'd have to be impeached and convicted in the Senate before the Justice Department could get hold of him. I am NOT accepting a fucking resignation if he is caught running a Ponzi. I will accept nothing but every Republican in Congress going in front of a television camera and admitting how bad they fucked this country by choosing to back that criminal.

[Stargazer09]

27. Interesting

Definitely explains a lot.

[randr]

28. Bingo

His debt his mostly to the Russians which explains a lot about what is going on. No wonder he refuses to release his tax returns. He has not even given proof that he is under audit.
CIA implication that the Russians have been working on Trump for years would explain why they, outside of Deutsche Bank, are willing to loan him so much.

[lagomorph777]

30. CIA has access to all international transactions and his tax returns.

Let's get this done.

[lagomorph777]

29. "Underwater" is an interesting term for a climate denier who owns tons of coastal real estate.

Or at least ostensibly he does.

[lagomorph777]

34. Exactly correct, and Mother Jones has the proof.

http://www.motherjones.com/politics/2016/12/guide-donald-trump-debt

A Guide to Donald Trump's Huge Debts—and the Conflicts They Present
Here's what we know he owes.

...All of Trump's top properties—including Trump Tower, the Trump National Doral golf course, and his brand new luxury hotel in Washington, DC—are heavily mortgaged. That means Trump maintains critical financial relationships with his creditors. These interactions pose a significant set of potential conflicts because his creditors are large financial institutions (domestic and foreign) with their own interests and policy needs. Each one could be greatly affected by presidential decisions, and Trump certainly has a financial interest in their well-being.

Below is a list of all the financial players that Trump owes money to and how much Trump directly has borrowed from each one. This roster is based on publicly available loan documents. According to his own public disclosure, Trump, as of May, was on the hook for 16 loans worth at least $713 million. This list does not include an estimated $2 billion in debt amassed by real estate partnerships that include Trump. One of those loans is a $950 million deal that was cobbled together by Goldman Sachs and the state-owned Bank of China—an arrangement that ethics experts believe violates the Constitution's emolument clause, which prohibits foreign governments from providing financial benefits to federal officials....