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Trump Asks Deutsche Bank and Palm Beach County to Give His Businesses a Break

Old 'N Chill

Old 'N Chill

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I knew Trump was suffering politically from the COVID-19 Pandemic (and rightly so), but I didn't realize he was also suffering financially in his personal dealings.

Donald Trump’s company has asked its biggest lender, German financial giant Deutsche Bank, for a break on repaying some of its loans. The Trump Organization has also asked Palm Beach County for similar leeway on rent payments the president owes on one of his Florida golf courses. The New York Times reports that Trump Org executives made the requests recently, citing the global financial crisis caused by the COVID-19 pandemic.

The pandemic has been devastating for much of the American economy, particularly the travel industry. As much as three quarters of Trump’s revenue in recent years has come from his travel-related businesses. Nearly all of Trump’s properties are shuttered; some are barely operating, with limited offerings. In all, the Trump Organization has laid off or furloughed more than 1,000 employees. The shutdowns may be costing the president as much as $680,000 a day in revenue.

When Trump became president, he refused to divest from his business empire. At the time, ethics experts worried about the potential for a major conflict-of-interest should the sitting U.S. president ever need to ask one of his lenders or business partners for any change to their existing deals—the exact scenario now playing out.
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Trump Asks Deutsche Bank and Palm Beach County to Give His Businesses a Break – Mother Jones
 
Trump has been profiting from the Presidency with Mar-a-Lago. He releases information there and takes photos and has otherwise made it a tourist attraction. Let it go bankrupt and be auctioned. Let someone else profit from the fame Trump provided, as President, for the establishment.
 
Lisa said:
Why does man who claims to be a brillant businesman and a billionaire need to beg the bank to give him a break?
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Good question. Perhaps it's because all his claims are false.
 
Old 'N Chill said:
Good question. Perhaps it's because all his claims are false.
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My question what rhetorical because he isn't a billionaire and as a businessman he is the punchline to a running joke.
 
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:thinking
 
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