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kingdragonfly
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  #2233763 9-May-2019 14:54
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You'd think it would be impossible to lose money from a casino, but Trump somehow managed it.

For the world's sake, let's hope the US economy isn't ruined like most (all?) of Trump's other investments



An old 2016 article

https://www.nytimes.com/2016/06/12/nyregion/donald-trump-atlantic-city.html

How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions

But even as his companies did poorly, Mr. Trump did well. He put up little of his own money, shifted personal debts to the casinos and collected millions of dollars in salary, bonuses and other payments. The burden of his failures fell on investors and others who had bet on his business acumen.
...
Mr. Trump assembled his casino empire by borrowing money at such high interest rates — after telling regulators he would not — that the businesses had almost no chance to succeed.
...
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.
...
“He put a number of local contractors and suppliers out of business when he didn’t pay them,” said Steven P. Perskie, who was New Jersey’s top casino regulator in the early 1990s. “So when he left Atlantic City, it wasn’t, ‘Sorry to see you go.’ It was, ‘How fast can you get the hell out of here?’”
...

kingdragonfly
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  #2233986 9-May-2019 20:27
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Trump Lost Over $1 Billion in 10 Years: A Closer Look

Late Night with Seth Meyers

Seth takes a closer look at the Trump administration’s defiance of Congress over the Mueller report.


 
 
 
 


Sideface
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  #2234227 10-May-2019 08:36
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another Trump reversal-reversal ...

 

The New York Times - Trump Says Barr May Decide Whether Mueller Testifies Before Congress

 

May 9, 2019

 


WASHINGTON — President Trump said on Thursday that he would leave it up to Attorney General William P. Barr to decide whether Robert S. Mueller III, the special counsel, may testify before Congress on the Russia investigation.

 

His comments were a seeming reversal, since Mr. Trump wrote over the weekend on Twitter that Mr. Mueller should not be allowed to appear before Congress.

 

Mr. Barr has told lawmakers that he has no objection to letting Mr. Mueller talk to them. ...

 



 





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kingdragonfly
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  #2234308 10-May-2019 09:35
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Classic Trump move. Will his associates never learn?


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  #2234352 10-May-2019 10:21
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dwilson:

 

Trump might be thick, but he hires smart people at times.

 

Maybe on paper he runs at a loss, avoids tax.

 

But, it is possible he was actually making money.

 

 





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Fred99
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  #2234422 10-May-2019 11:48
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Reuters now reporting poll results showing a very small majority (45:42) supporting Trump being impeached.

 

But I think Pelosi is correct - failure to convict is likely to backfire, so they need more than they've got.

 

 

 

 

 

 


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  #2234425 10-May-2019 11:55
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Fred99:

 

Reuters now reporting poll results showing a very small majority (45:42) supporting Trump being impeached.

 

But I think Pelosi is correct - failure to convict is likely to backfire, so they need more than they've got.

 

 

 

 

I'm not sure it would backfire. 

It is unlikely that impeachment will actually succeed, but the mere act of attempting it will require more investigations, often publicly broadcast. It will shed more light on exactly what Trump has been up to, and will give the voting public a clearer sense of the state of play. It may also finally force the Republicans hand, so they have to do something about Trump if anything damning is actually revealed during this process.

Initiating impeachment proceedings also sends a clear message to future presidents that they are not above the law, and Congress will investigate any alleged wrongdoings when deemed necessary. 

I was initially impressed with Pelosi, and thought she handled Trump's Shutdown ploy well. But now I think she's too ill equipped to deal with Trump. His disregard for the rule of law and separation of powers means that standard political tactics cannot always be applied to him.


 
 
 
 


Fred99
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  #2234446 10-May-2019 12:52
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On track record so far, I think there's a good chance it would backfire.
Trump's survived the unthinkable on an almost daily basis.  It's a terrible cliche now - "but what if Obama had done/said that?" but it's true.

 

He still has ~ >40% approval.  They need a 2/3 supermajority in a GOP dominated senate to impeach.  It's patently obvious that core support in the GOP puts party (and themselves) ahead of country.

 

If Trump's approval drops into the 20s, then maybe they should they try it.  

 

Unless the charge and expected conviction is seen to be extremely serious, they need to be careful.  Bill Clinton's popularity improved after impeachment and acquittal.


gzt

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  #2234509 10-May-2019 15:07
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Personally don't think it's worth it just a distraction from USA problems. Probably would get Biden elected that way since he seems to have few ideas or policies apart from "I'm not Trump" at the present time.

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  #2234639 10-May-2019 17:37
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The New York Times - A Strategy Emerges to Counter House Democrats: Dare Them to Impeach

 

May 9, 2019

 


WASHINGTON — As the White House and Congress escalate their constitutional showdown, President Trump and his team are essentially trying to call what they see as the Democrats’ bluff.

 

The message: Put up or shut up. Impeach or move on.

 

Confident that there are not enough votes to remove him from office through an impeachment trial in the Senate, Mr. Trump and his advisers have chosen the path of maximum resistance, calculating that they can put the Democrats on the defensive in a fight that is politically useful for the president.

 

The decision to assert executive privilege and defy subpoenas across the board suits Mr. Trump’s natural combative instincts and fits the grievance narrative he has adopted by arguing that the establishment is out to get him. ...

 


Democrats recognize what’s going on. “Trump is goading us to impeach him,” Speaker Nancy Pelosi said at a Cornell University event in Manhattan this week.

 

So far, they have neither taken the bait nor backed off. ...

 

 





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kingdragonfly
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  #2234683 10-May-2019 18:13
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Taxes are really complex in the US. I'm going to make a simple explanation, but believe me it gets very complex very fast.

US citizens pay state and federal taxes. So if you live in New York, you send out tax forms to the federal tax collector, the IRS, and to the completely separate New York State tax collector.

The forms used by the both tax collectors hold a lot of the same information. In a bizarre bit of tax code, you can deduct (subtract) your state taxes from your federal taxes; there's little reason to lie or hide anything from state tax collectors.

They really hate Donald Trump in New York, so the New York state legislator is passing a new law allowing congress to subpoena the state tax forms.

I'm sure there will be a lot of surprises. It should give a lot of insight into the Trump nonprofit Foundation, and Trump University.

NY State Senate Passes Bill Allowing Congress To Get President Trump Tax Returns

Hardball MSNBC


freitasm
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  #2234696 10-May-2019 18:55
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gzt: Personally don't think it's worth it just a distraction from USA problems. Probably would get Biden elected that way since he seems to have few ideas or policies apart from "I'm not Trump" at the present time.

 

Let's try some whataboutism... It wasn't a distraction when Republicans impeached Bill Clinton. And that was over a blowjob.





 

 

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gzt

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  #2234767 10-May-2019 22:40
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freitasm:

gzt: Personally don't think it's worth it just a distraction from USA problems. Probably would get Biden elected that way since he seems to have few ideas or policies apart from "I'm not Trump" at the present time.


Let's try some whataboutism... It wasn't a distraction when Republicans impeached Bill Clinton. And that was over a blowjob.


That one started out as an investigation into some real estate deal the Clintons were involved in linked to a fraudster and a collapsed bank. Clinton found not guilty. So he was impeached on guilty-of-lying about [ahem] on work time they found out about along the way. Impeachment failed. The outcome was predictable.

Trump will be this - times one hundred. Except unlike Clinton chances are enough of this will stick for impeachment and guilty on some items. Probably impeachment will remove Trump. Just seems like a circus to me.

kingdragonfly
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  #2234810 11-May-2019 08:10
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Trump is a Fraud and People Don't Care

Jimmy Kimmel Live

"Today at the White House, Donald Trump welcomed SOME of the World Series Champion Boston Red Sox. Meanwhile, the New York State Senate yesterday passed a bill that would allow Congress to finally see Donald Trump's tax returns which will make no difference whatsoever. People know Trump is a fraud and many of them don't seem to care."


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