The “King of Debt” is in more debt than EVER.
President-elect Donald Trump says his business acumen is why the American people should have faith in him. Trump claims that because of his lifetime spent in the private sector, presiding over business deals totaling billions of dollars, that his judgment should be trusted to deal with the crumbling economy of the United States. However, Trump is often found to be lying or mischaracterizing facts on the record, and the status of his own history as a businessman is an area where Trump has lied through his teeth. During the presidential campaign Trump claimed to only be $300 million in debt, but thanks to a new investigation it appears Trump is actually in debt at least a billion dollars — if not more. Just who Trump owes money to is possibly damaging to his presidency and to the sovereignty of the American people.
The Wall Street Journal did some digging into Trump’s $300 million claim and found some glaring discrepancies. For example Trump personally owes $282 million to Wells Fargo. A company which Trump is part owner owes Wells Fargo $950 million. Wells Fargo is one of the financial giants responsible for the financial meltdown which nearly destroyed the world’s economy. If such an action were to occur again under Trump’s watch, would Wells Fargo be allowed to buy themselves out of trouble by using Trump’s debt as leverage against him?
Trump has proved himself to be a man who is for sale to the highest bidder. The American people should be under no illusions that if Trump were pressed for favors from large financial institutions that he would certainly bend over backward to accommodate them.