Slouching Towards Oblivion

Sunday, May 06, 2018

Today's Burning Questions

Overheard on Twitter:

Why would a billionaire need his lawyer to front him $130K to keep the coochie quiet?

And why would a billionaire need an installment plan to pay his lawyer back?



In the nine years before he ran for president, Donald Trump’s company spent more than $400 million in cash on new properties — including 14 transactions paid for in full, without borrowing from banks — during a buying binge that defied real estate industry practices and Trump’s own history as the self-described “King of Debt.”

Trump’s vast outlay of cash, tracked through public records and totaled publicly here for the first time, provides a new window into the president’s private company, which discloses few details about its finances.

It shows that Trump had access to far more cash than previously known, despite his string of commercial bankruptcies and the Great Recession’s hammering of the real estate industry.

- and -

Trump’s lavish spending came at a time when his business was leaning largely on one major financial institution for its new loans — Deutsche Bank, which provided $295 million in financing for big projects in Miami and Washington.

- and -

“He always used other people’s money. That’s for sure. Not cash,” said Barbara Res, who was a top executive for Trump throughout the 1980s and continued to work for him for most of the 1990s. “He always got somebody to put up funds for him. To put up the money. And he’d put up the brilliance.”

There's always the possibility that we're falling into the Argument From Ignorance fallacy - that it's all perfectly legit, and we just haven't come up with a good explanation yet.

There's also the possibility that a squadron of alien space monkeys will come flying out of my ass tomorrow morning at precisely 7:15.

There is nothing "perfectly legit" about Donald Trump.

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