Trump and his family could face financial ruin


NBC’s Chuck Rosenberg pointed out that Letitia James’ lawsuit in New York could spell financial ruin for Trump and his family.


Rosenberg said on MSNBC’s Andrea Mitchell Reports:

Liquidity for the Trump organization is going to be a huge problem. Loans can be called. It becomes more difficult to get additional loans. The value of the properties, if the Attorney General has listed them correctly, is much, much lower than the Trumps had proclaimed. Without being apocalyptic here, this could lead to financial ruin for the company. Of course they can reorganize in another state. They will somehow have to deal with the ramifications of this New York state lawsuit. Litigation takes a long time. Especially in civil matters. Especially in busy files like the one in upstate New York.

I don’t expect to know the answer to this next week or next month or even next year. The financial problems are enormous for the trump organization and for the trump family. As I said before, I think somehow with a lawsuit like this we would go to court.

The Trump family’s entire business was built on loans and valuations. If they don’t have access to new loans, and the loans they got because of fraud issues, that’s a big problem. If Trump’s properties are valued much lower than what Trump has claimed, the Trump family is worth less money.

See also  Rayner outlines plans to improve working conditions and review procurement

It’s easy to see a situation where Trump and his family are financially ruined before criminal charges come into play. Trump has received hundreds of millions of dollars in loans from the Chinese government. Trump owes a total of $900 million in loans maturing between 2021 and 2024.

Trump also did not pay taxes on $300 million in loans he received.

Trump was already in shaky financial shape before James announced that New York State wants $250 million from the Trump Organization, and it’s easy to see Rosenberg was right.

See also  Trump and DOJ Propose Four Special Masters Candidates to Review Documents Seized in Mar-a-Lago

Donald Trump and his family could face financial ruin.


Please enter your comment!
Please enter your name here