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View Full Version : "Trump owes tens of millions to the Bank of China — and the loan is due soon"




enhanced_deficit
04-24-2020, 09:18 PM
So Media wing mostly ignored this in recent years and only decided to bring it back in news after GOPA wing leader allegedly attached wakey wake Biden's China ties?


Trump owes tens of millions to the Bank of China — and the loan is due soon

The president's financial dealings with the state-owned bank complicate his attacks on Biden.

By MARC CAPUTO, MERIDITH MCGRAW and ANITA KUMAR
04/24/2020
(https://www.politico.com/news/2020/04/24/trump-biden-china-debt-205475#)
But Trump himself is tens of millions of dollars in debt to China: In 2012, his real estate partner refinanced one of Trump’s most prized New York buildings for almost $1 billion. The debt includes $211 million from the state-owned Bank of China — its first loan of this kind in the U.S. — which matures in the middle of what could be Trump’s second term, financial records (https://www.sec.gov/Archives/edgar/data/899689/000089968920000010/vno-123119xexhibit992x.htm) show.
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Steps from Trump Tower in Manhattan, the 43-story 1290 Avenue of the Americas skyscraper spans an entire city block. Trump owns a 30 percent (https://investors.vno.com/press-releases/news-details/2007/Vornado-to-Acquire-70-Controlling-Interest-in-1290-Avenue-of-the-Americas-and-555-California-Street/default.aspx) stake in the property valued at more than $1 billion (https://www.propertyshark.com/mason/Property/20535/1290-1296-Avenue-of-the-Americas-New-York-NY-10019/), making it one of the priciest addresses in his portfolio, according to his financial disclosures.

Trump’s ownership of the building received a smattering of attention before and after his 2016 campaign. But the arrangement with the Bank of China — and its impending due date in 2022 — has gone largely unnoticed.
The revelation complicates one of Trump’s emerging campaign attacks against Biden: that the former vice president would be a gift to the Communist country and America’s chief economic rival.

https://www.politico.com/news/2020/04/24/trump-biden-china-debt-205475

acptulsa
04-24-2020, 09:26 PM
3D chess.

Trump never paid back a loan in his life.

CaptainAmerica
04-24-2020, 09:30 PM
declare war on China, its the only way out of this shit, including the deep state..

susano
04-25-2020, 12:03 AM
Trump does have an investment in an office tower located at 1290 Avenue of the Americas, near Rockefeller Center in New York City. But the loan financing that building is no longer owed to the Bank of China. It was sold years ago into a securitization that is serviced by Wells Fargo and owned by a wide range of investors.

The Trump organization owns a 30 percent stake in the limited partnership that owns 1290 Avenue of Americas, making President Trump a passive minority investor. The rest of the partnership is owned by Vornado Realty Trust, one of the biggest commercial real estate investors in the U.S.

The building’s tenants include AXA Equitable Financial, Neuberger Berman, and Hachette Books.

Back in 2012, the building was refinanced with a $950 million loan from a consortium of banks that included the Bank of China, which had already become one of the largest lenders to commercial real estate in the U.S. The other lenders at the time were the commercial real estate financing units of Deutsche Bank, UBS, and Goldman Sachs.

But those loans were then packaged into bonds, commercial mortgage-backed securities, and sold to investors. Wells Fargo serves as the master servicer, meaning any payments on the loans would go to Wells rather than the Bank of China. The bonds are owned by a wide range of investors, including mutual funds managed by Vanguard, J.P. Morgan Chase and T.D. Ameritrade.

The securitization happened within days of the closing of the original loan and ended the Bank of China’s role in the loan. As a result, the Bank of China is no longer a direct lender to the building’s partnership—and Trump certainly does not owe tens of millions of dollars to the Chinese lender.

https://www.breitbart.com/economy/2020/04/24/donald-trump-does-not-owe-millions-to-bank-of-china/


So, it appears that Politico took a little truth and spun into a fictional tale, as is typical with propaganda.

dannno
04-25-2020, 12:10 AM
Trump does have an investment in an office tower located at 1290 Avenue of the Americas, near Rockefeller Center in New York City. But the loan financing that building is no longer owed to the Bank of China. It was sold years ago into a securitization that is serviced by Wells Fargo and owned by a wide range of investors.

The Trump organization owns a 30 percent stake in the limited partnership that owns 1290 Avenue of Americas, making President Trump a passive minority investor. The rest of the partnership is owned by Vornado Realty Trust, one of the biggest commercial real estate investors in the U.S.

The building’s tenants include AXA Equitable Financial, Neuberger Berman, and Hachette Books.

Back in 2012, the building was refinanced with a $950 million loan from a consortium of banks that included the Bank of China, which had already become one of the largest lenders to commercial real estate in the U.S. The other lenders at the time were the commercial real estate financing units of Deutsche Bank, UBS, and Goldman Sachs.

But those loans were then packaged into bonds, commercial mortgage-backed securities, and sold to investors. Wells Fargo serves as the master servicer, meaning any payments on the loans would go to Wells rather than the Bank of China. The bonds are owned by a wide range of investors, including mutual funds managed by Vanguard, J.P. Morgan Chase and T.D. Ameritrade.

The securitization happened within days of the closing of the original loan and ended the Bank of China’s role in the loan. As a result, the Bank of China is no longer a direct lender to the building’s partnership—and Trump certainly does not owe tens of millions of dollars to the Chinese lender.

https://www.breitbart.com/economy/2020/04/24/donald-trump-does-not-owe-millions-to-bank-of-china/


So, it appears that Politico took a little truth and spun into a fictional tale, as is typical with propaganda.

This forum needs a fake news tag so that certain posters like ed get it tagged on all of their threads.

I don't think ed has made a single true post in their entire time here.

susano
04-25-2020, 12:13 AM
This forum needs a fake news tag so that certain posters like ed get it tagged on all of their threads.

I don't think ed has made a single true post in their entire time here.

Luckily, I had just noticed that story while looking up something else. There's so much propaganda it's like whack-a-mole.

kpitcher
04-25-2020, 01:45 AM
One article had this to say about the debt being sold in 2012

"Another public document, however, lists Bank of China as a creditor on 1290 Avenue of the Americas even after the bank said it was no longer involved in the property. Filed in 2017 with the New York City Department of Finance Office of the Register, it lists the Bank of China as a secured party having a financial interest in the building’s fixtures. "

Worth digging into. We know politicians are beholden to lobbyists. I am not surprised trump is trying to figure out how to profit from his tenure here as it worked well for the bush, clinton and obama families.

PAF
04-25-2020, 06:17 AM
One article had this to say about the debt being sold in 2012

"Another public document, however, lists Bank of China as a creditor on 1290 Avenue of the Americas even after the bank said it was no longer involved in the property. Filed in 2017 with the New York City Department of Finance Office of the Register, it lists the Bank of China as a secured party having a financial interest in the building’s fixtures. "

Worth digging into. We know politicians are beholden to lobbyists. I am not surprised trump is trying to figure out how to profit from his tenure here as it worked well for the bush, clinton and obama families.

I have always said that I do not consider Trump good or evil. He is an opportunist.

enhanced_deficit
04-25-2020, 10:22 PM
He is an opportunist.

Valid point.

dannno
04-25-2020, 10:33 PM
I have always said that I do not consider Trump good or evil. He is an opportunist.

An opportunist for the American people..

When you have a $100,000 loan with the bank, the bank owns you.

When you have a $100 million loan with the bank, you own the bank.

enhanced_deficit
04-25-2020, 10:37 PM
An opportunist for the American people..



EM.

And for American Families..

For such causes he was apparently willing to fund even Hillary Clinton's election, Clinton Foundation and various progressive socialist liberal Dems elections.
That's a huge sacrifice of ideological principles to put America First/ Families First pragmatically. This was just one recent example:


Hillary Clinton
@HillaryClinton
(https://twitter.com/HillaryClinton)Mar 13 10:51 AM (https://twitter.com/HillaryClinton/status/1238477908970266625)
Call your representatives today and demand they pass the #FamiliesFirst (https://twitter.com/hashtag/FamiliesFirst?src=hashtag_click) coronavirus bill. It contains:
- Free testing
- 14 days paid sick leave
- 3 months paid family leave
- Expanded unemployment insurance & food security
- Medicaid funds Lives are on the line.
(202) 224-3121


Donald J. Trump @realDonaldTrump
(https://twitter.com/realDonaldTrump)Mar 13 8:42 PM (https://twitter.com/realDonaldTrump/status/1238626501555298308)
I fully support H.R. 6201: Families First CoronaVirus Response Act, which will be voted on in the House this evening. This Bill will follow my direction for free CoronaVirus tests, and paid sick leave for our impacted American workers. I have directed....

#Families First

+ Trump's "Obama Is Totally A Champion (http://www.ronpaulforums.com/showthread.php?521272-How-much-trust-do-you-put-in-current-President-s-promises-and-statements&p=6641183&viewfull=1#post6641183)" stance before that.

https://www.newscorpse.com/Pix/Campaign-2016/trump-obama-champion.jpg

devil21
04-26-2020, 11:01 AM
3D chess.

Trump never paid back a loan in his life.

The Trump clan will have more than enough to repay all loans after they're done manipulating the stock market every day for 4 years.

It's laughable to think that the Trumps can owe millions, maybe even billions to various Chinese, Russians, Rothschilds and mobsters yet be fighting for the little American people and crushing the deep state. Just doesn't compute.



https://www.breitbart.com/economy/2020/04/24/donald-trump-does-not-owe-millions-to-bank-of-china/


Breitbart isn't any more reliable of a source than Politico or Buzzfeed or any other. They're the official Trumpsplain' outlet. The Politico original article at least was sourced directly from SEC documents. There's not a shred of evidence in the Breitbart article to back up the claims and the one anchor text hyperlink embedded that is alluded as evidence to goes to a paywall website, which of course no one that follows Breitbart will actually pay to read.

eta: Reading the Breitbart article more closely, it says that Wells is the servicer and payments go to Wells. That is true but as servicer Wells then sends the payments to the bond holders. Whether the PBOC is one of the holders or not is not supported in the article by any evidence, other than Breitbart's declaration that the PBOC is not.

susano
04-26-2020, 11:44 AM
The Trump clan will have more than enough to repay all loans after they're done manipulating the stock market every day for 4 years.

It's laughable to think that the Trumps can owe millions, maybe even billions to various Chinese, Russians, Rothschilds and mobsters yet be fighting for the little American people and crushing the deep state. Just doesn't compute.



Breitbart isn't any more reliable of a source than Politico or Buzzfeed or any other. They're the official Trumpsplain' outlet. The Politico original article at least was sourced directly from SEC documents. There's not a shred of evidence in the Breitbart article to back up the claims and the one anchor text hyperlink embedded that is alluded as evidence to goes to a paywall website, which of course no one that follows Breitbart will actually pay to read.

eta: Reading the Breitbart article more closely, it says that Wells is the servicer and payments go to Wells. That is true but as servicer Wells then sends the payments to the bond holders. Whether the PBOC is one of the holders or not is not supported in the article by any evidence, other than Breitbart's declaration that the PBOC is not.

Yeah, I agree about Breitbart. Just throwing that out there.

I really don't see, though, what's the big deal here. Many partners and creditors. A nothingburger other than the fact that China is big in real estate in the US which we already know. Same in Canada.

pcosmar
04-26-2020, 02:39 PM
Bla bla trump bla bla bla,,

What about the Federal Reserve debt to China... for all those nice checks going around??

susano
04-26-2020, 03:39 PM
Bla bla trump bla bla bla,,

What about the Federal Reserve debt to China... for all those nice checks going around??

Indeed. And, considering China likes to invest in debt, they may own shares of sliced and diced mortgages all across America, including for properties resided in by hacks at Politico.

Anti Globalist
04-26-2020, 05:49 PM
declare war on China, its the only way out of this $#@!, including the deep state..
But going to war with China will wreck both our countries so badly, neither of them will be able to recover.

CaptainAmerica
04-28-2020, 01:17 AM
But going to war with China will wreck both our countries so badly, neither of them will be able to recover.

manufacturing begins here. there is no way out of this, either america becomes submissive and bows down to globalism and china, or goes to war. Tell me what do you see as the realistic solution?

devil21
04-28-2020, 07:58 AM
manufacturing begins here. there is no way out of this, either america becomes submissive and bows down to globalism and china, or goes to war. Tell me what do you see as the realistic solution?

That's a false duality argument. The only solutions are the two extremes? Either entirely capitulate to the UN or nuke a country of 1B+ people? Those are the options? I notice that there's no option to cut ties to the manipulators running us into either scenario and instead embrace the Republican form of government guaranteed by the Constitution. Or no option to just stop consenting and participating in their manufactured legal and economic system.

PAF
04-28-2020, 08:08 AM
That's a false duality argument. The only solutions are the two extremes? Either entirely capitulate to the UN or nuke a country of 1B+ people? Those are the options? I notice that there's no option to cut ties to the manipulators running us into either scenario and instead embrace the Republican form of government guaranteed by the Constitution. Or no option to just stop consenting and participating in their manufactured legal and economic system.

^^^ BOLD ^^^

But, that's too easy a solution for the brainwashed.

Anti Globalist
04-28-2020, 08:15 AM
manufacturing begins here. there is no way out of this, either america becomes submissive and bows down to globalism and china, or goes to war. Tell me what do you see as the realistic solution?
Your solutions are too extreme. We could easily just cut ties to our manipulators and stop participating in their economic system. That sounds much better than having to sacrifice many lives.

CaptainAmerica
04-29-2020, 12:42 AM
Your solutions are too extreme. We could easily just cut ties to our manipulators and stop participating in their economic system. That sounds much better than having to sacrifice many lives.
Yea? How long until then?Im all for it. But the reality is that we as a people...have one way out of this, war with china at sea, and anyone who fucks with our trade , and free markets . Even if the world decides to follow China to hell, we need local markets, free markets, and all regulation off our backs. China is going to now stand at our gates waiting to destroy america