There’s really no denying that Donald Trump and his organization as a whole is a rapidly sinking ship. But according to one former Watergate prosecutor, it may not be the endless lawsuits that will actually take him down, as we’d expect.
Recently, former Watergate investigator and prosecutor Jill Wine-Banks spoke with MSNBC host Alicia Menendez, who listed off the numerous lawsuits currently pending against ex-President Trump, including but not limited to defamation lawsuits from both E. Jean Carroll and Summer Zervos, a fraud lawsuit from his niece Mary Trump, fraud and tax litigation from Panama Hotel, Doe v. Trump Corporation class-action lawsuit, a civil lawsuit hailing from DC over misuse of 2017 inauguration funds, Bennie Thompson’s and Eric Swalwell’s lawsuit over the incitement of the January 6th riot, lawsuits from Capitol police pertaining to the January 6th riot, and a voting rights case from the NAACP Legal Defense Fund for the nonsense he pulled after the election.
Seriously, the dude is up to his neck in lawsuits from coast to coasts and, should he lose them all, it sounds like enough to break even the richest of privileged white men. But Wine-Banks doesn’t think that those endless lawsuits will actually be the nail in Donald Trump’s financial coffin.
The former Watergate prosecutor pointed out that Trump tends to use other banks and loans to pay off existing banks and loans. Forbes senior editor and author of White House Inc., Dan Alexander, noted that Trump’s net worth is around $2.5 billion, his assets total around $3.7 billion, and his debts rack up to about $1.3 billion.
Stay up-to-date with the latest news!
Subscribe and start recieving our daily emails.
Now, some of the lawsuits currently lodged against the former president are of a personal nature. But, we already know that Trump has used business money to fund hush-money payments in the past, so it’s not unlikely that even the personal suits will ultimately affect his business.
But at the end of the day, Wine-Banks seems to think that Donald’s biggest issue is the fact that no one wants to be associated with him anymore.
This is what she had to say:
His popularity has diminished greatly. His properties are of less value now. Many buildings are taking the name Trump off of them because it is a deterrent to people, either playing golf at his golf courses or a deterrent to people buying condos in his buildings. So, it will hurt his bottom line both in terms of penalties — think about how many millions he may owe the federal government on the long-festering audit that he said was the reason he couldn’t turn over his financial records. Think about the bank loans that we know are coming due, and his income has gone down as best everybody can tell from all the reporting. So, where is he going to get the money to pay back those loans, and now a lot of banks will simply not lend to him anymore. So, how is he going to change the source of income to pay back the original lender with new lenders? So, it could totally wipe out the Trump Organization. There are some questions about some fraud in real estate and in defrauding people who bought condos. All of that mounts up, and eventually, the money runs out. So, he should be worried not just about whether he will be charged with a crime and whether a jury will convict him, but with being bankrupted.”
She’s not wrong, guys. No one wants that branding anymore, especially after the January 6th Capitol attack, and Trump has heavily depended on his name brand for decades now.
You can watch the clip here:
Featured image via Political Tribune gallery