Topic: POLITIK - on January 8, 2017 at 10:34:00 PM CET
Trump said he had $315 million in debt. He left out $1.5 billion.
A new report reveals the breathtaking scope of Trump’s conflicts of interest.
Trump filed documents with the FEC over the summer that revealed he owed at least $315 million to ten entities. This debt, some of which is personally guaranteed by him, was a clear conflict. As president, Trump will be responsible for regulating entities that he also owes money to. Worse, these debts are frequently renegotiated, giving these companies leverage over Trump in the regulatory process.
A report this afternoon from the Wall Street Journal, however, revealed that Trump’s disclosure was the tip of the iceberg. The FEC required Trump only to report debt from entities he fully controls. The disclosure left out “more than $1.5 billion lent to partnerships that are 30%-owned by him.” That debt has been securitized and is owed to at least 150 financial entities.
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