President Biden: The NEW one and only politics thread

Yes, another round of tax cuts ought to do it.
The pound collapses as Britain's new prime minister gambles on tax cuts for the rich

 

How does one say trickle down economics in Cockney?

 

One of a million reasons why Republicans should never be trusted with holding power in our government

 

Close!

Trump: The Fall

Track record: Based on his track record, the banks opened their wallets to Trump, seemingly without undertaking the normal financial analysis. A lawyer who has worked with Trump says, "Donald Trump could have walked into any bank and said, "I want $25 million,' and nobody would ask for a financial statement. They'd say, "Donald Trump, $25 million? Done!'" James Grant, a business observer and editor, says the banks were feeding Trump's speculative purchases. "All this occurred," he says, "three, four or five years after it was clear to anyone that this same style of lending had brought ruin to the big Texas banks." Trump's major banks, Chase Manhattan, Citibank, Bankers Trust and Manufacturers Hanover, declined to comment.

Not only was it the magical Trump the banks were lending on; it was a time when market values had been rising almost non-stop since the late 1970s. If the cash flow from the various properties didn't cover the debt payments, it didn't really matter. Like a homeowner, Trump could mark up the value of a building on paper and borrow against it through second mortgages. Trump also took out personal lines of credit that were unsecured and sometimes used them to make interest payments. "The banks," says a lawyer who has known Trump since his first project, "created their own monster."

 

So it's been a cult for decades.

 

Looks like we're having two conversations.

DQ and I were going back and forth about young Trump and the go-go 80s and the power of mythology and the Forbes 400 list.

You and I are having one about post-Atlantic City, post-Fred-Trump-bringing-Donald-suitcases-filled-with-cash, post-six-bankruptcies Trump and his Deutsche Bank loans.

 

But we're all in agreement Trump's a lying lowlife, right?

 

"Whatever Mr. Trump's accomplishments may or may have not been in the private sector, let us not lose sight of the fact that he had zero qualifications for public office anywhere at any time, let alone the highest office in the land. This should been obvious to anyone with a functional brain."

 

I have to say, I’m enjoying the RWSM getting twisted by Lizzo playing a flute once gifted to James Madison.

 

"I'd pay cash money to watch Ben Shapiro try to survive one day on Parris Island"