Among the many reasons most of us thought it was a terrible idea to have an alleged billionaire with business interests around the world as president, is that with a narcissist at the helm, the public is never aware whether his political moves are made to benefit him. We wanted him to keep his campaign promise of disclosing his taxes, but he failed to do that. And now we’re all enduring a national crisis, and Americans need all the help they can get.
Well, with the massive COVID-19 outbreak, this time, Trump is seeking financial assistance, so it seems the tax cuts he gifted himself with won’t help during a national crisis. Karma isn’t a bitch — she’s a big, beautiful mirror.
One of Donald Trump’s family companies is among those looking for help, according to documents reviewed by the New York Times.
During the lockdown, some of the company’s golf courses and hotels closed, so the Trump Organization has been exploring whether it can delay payments on some of its loans and other financial obligations.
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Representatives of Trump’s company, according to the news outlet, have recently spoken with Deutsche Bank — which happens to be the former reality show star’s largest creditor — about the possibility of postponing payments on at least some of its loans from the bank. Trump and Deutsche Bank have had a long and dubious relationship, and the president has previously been unable to find other banks willing to lend money to him. When Trump became president, he owed that bank about $350 million.
The Trump Organization also reportedly sought guidance last week from Palm Beach County, Florida, about whether it expected the company to continue making monthly payments on county land that it leases for a 27-hole golf club, according to the Times.
“These days everybody is working together,” Eric Trump said. “Tenants are working with landlords, landlords are working with banks. The whole world is working together as we fight through this pandemic.”
About those tax returns we wanted to see:
Late last month, Mr. Trump’s representatives contacted their relationship managers in Deutsche Bank’s New York private-banking division, which caters to wealthy customers. They wanted to discuss the possibility of delaying payments on some of the hundreds of millions of dollars of outstanding loans that the Trump Organization has from the bank, according to a person briefed on the talks. The discussions are continuing.”
While other companies may be able to benefit from the $500 billion rescue fund that will be administered by the Treasury Department, Trump is out of luck since Democrats were sure to put a provision in the economic stimulus package specifically forbidding the president and his family from access to that money.
Featured image via Political Tribune gallery
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