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Donald Trump has $1.5 billion more debt than he claims
A report by The Wall Street Journal indicates that Donald Trump and his various businesses owe roughly $1.5 billion to more than he previously disclosed to more than 150 creditors. And that most of that debt has been repackaged and sold to investors.
The new report suggests that Donald Trump’s conflicts of interest are significantly worse than previously thought. In fact the $1.5 billion in additional debt is far more than the $315 million that Donald Trump has declared. And the 150 institutions is also significantly more than the 10 creditors that he previously claimed.
Trump owes money to Wall Street and banks around the world
Among those 150 institutions, Donald Trump’s creditors include Wells Fargo & Co, JP Morgan, Deutsche Bank, BlackRock and Prudential.
The Wall Street Journal piece quoted a former legal adviser to George H. W. Bush and John McCain, Trevor Potter, who said, The problem with any of this debt is if something goes wrong, and if there is a situation where the president is suddenly personally beholden or vulnerable to threats from the lenders.”
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And Lawrence Noble, a former Federal Election Commission lawyer, reiterated the concerns “The appearance of potential conflicts is dangerous and seriously exists in this situation.”
Concerns continue to mount over Donald Trump’s mountain of conflicts of interest
Concerns over Donald Trump’s unprecedented level of conflicts of interests continued to mount on Wednesday when, during his first press conference in 6 months, Donald Trump announced that he is essentially doing nothing to resolve his financial conflicts of interest. And instead maintaining his financial interest in his company and merely handing over day to day decision making to his sons.
According to the Wall Street Journal piece, “The debts of President-elect Donald Trump and his businesses are scattered across Wall Street banks, mutual funds and other financial institutions, broadening the tangle of interests that pose potential conflicts for the incoming president’s administration.”
