Owing Money and Owing Favors
The New York Times has reported that “companies belonging to Donald Trump have at least $650 million in debt, more than twice the amount shown in public filings made by his presidential campaign”: “The paper employed a property information firm to search publicly available data on more than 30 US properties connected to the Republican candidate, including offices and golf courses. In addition to the $650 million liabilities, a substantial portion of his wealth is tied up in three passive partnerships that owe an additional $2 billion to a string of lenders.” [The summary is from a report written posted by ABC Media, Australia: http://www.abc.net.au/news/2016-08-21/donald-trumps-companies-owe-650-million-reports/7769774]
So there are at least three major implications to this data.
First, in the filings made by his campaign, he underestimated his total debt by at least 50%, and that does not include the $2 billion in debt owed by the “passive partnerships.”…
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