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The New York Times - The Financial Minefield Awaiting an Ex-President Trump
today
Not long after he strides across the White House grounds Wednesday morning for the last time as president, Donald J. Trump will step into a financial minefield that appears to be unlike anything he has faced since his earlier brushes with collapse.
The tax records that he has long fought to keep hidden, revealed in a New York Times investigation last September, detailed his financial challenges:
Many of his resorts were losing millions of dollars a year even before the pandemic struck.
Hundreds of millions of dollars in loans, which he personally guaranteed, must be repaid within a few years.
He has burned through much of his cash and easy-to-sell assets.
And a decade-old I.R.S. audit threatens to cost him more than $100 million to resolve.
In his earlier dark moments, Mr. Trump was able to rescue businesses he runs with multimillion-dollar infusions from his father or licensing deals borne of his television celebrity. Those lifelines are gone.
And his divisive presidency has steadily eroded the mainstream marketability of the brand that is at the heart of his business.
That trend has only accelerated with his evidence-free campaign to subvert the outcome of the presidential election, which culminated in the Jan. 6 assault on the Capitol.
In its wake, his last-ditch lender vowed to cut him off. ...
“Trump is so reputationally toxic that a lot of financial institutions won’t want to do business with him,” said Adam J. Levitin, a law professor at Georgetown University who focuses on finance and bankruptcy.
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i thought most entrepreneurs do that - use other people's money to get rich - sometimes you get rich sometimes you bankrupt everyone else
WHITE HOUSE WARNS THAT COUNTERFEIT PARDONS ARE BEING SOLD ONLINE
WASHINGTON (The Borowitz Report)—With thousands of desperate criminals seeking pardons on Donald J. Trump’s last full day in office, the White House issued a warning about scammers selling counterfeit pardons online.
According to the advisory, many pardon buyers have been duped by such fraudulent Web sites as AuthenticTrumpPardons.com, which purports to offer clemency for as little as twenty-five thousand dollars a pardon.
“That is not a Web site authorized by Donald J. Trump,” the White House statement read. “It originates from a server in Peking.”
Trump’s chief of staff, Mark Meadows, said that fraudsters selling phony pardons are “the lowest of the low.”
“It’s very sad that there are scammers out there willing to take advantage of well-meaning felons who are sincerely trying to purchase a pardon,” Meadows said. “My advice is this: if someone is trying to sell you a pardon for less than two million dollars, it’s fake.”
'Those who can make you believe absurdities can make you commit atrocities.' Voltaire
'A patriot must always be ready to defend his country against his government.' Edward Abbey
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"The worst final popularity rating ever for a first lady belongs to Melania Trump"
Much has been written about President Donald Trump's historically low popularity ratings as he leaves office. But the tarnish on the Trump brand goes beyond the President.
Melania Trump leaves the White House with the worst popularity rating for any first lady at the end of her term in polling history.
The latest CNN/SSRS poll had Trump's favorable rating at 42% to a 47% unfavorable rating. The 47% is the highest unfavorable rating we ever recorded for Trump. It's also amazingly high from a historical perspective.
Traditionally, first ladies are nearly uniformly admired. The position is unelected and normally uncontroversial. It's hard to be unpopular.
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