Trump accountants

Interesting development. The Trump Oranization's CPA firm has issued a warning that the last ten years of financial statements should not be relied upon as accurate. Now that could mean that the CPA firm is confessing negligence or, more likely, that they've discovered that their client has been lying to them. Deutsche Bank is sweating steel jacketed bullets this morning I'll bet. Trump owes them tens of millions.

 

I'd like to see Donald Trump sweating those steel-jacketed bullets - but he's likely not. I wish he and his companies owed Deutsche Bank hundreds of millions! Then this whole thing would be really something to see!

 

You may get your wish. According to Reuters, the Trump Organization owes Deutsche Bank $340 million of which Trump personally guaranteed about $40 million. They are suing Trump for that part according to the NY Times of Jan 8 2021.

 

Thanks, nosborne48. You made my day!

 

Thinking about it on my way into work...apparently Deutsche Bank doesn't want to roll over this third of a billion that comes due in 2023 and 2024 even though they haven't lost any money on the man. If Trump, or more properly the Trump Organization, can't pay, DB will start seizing Trump properties. If necessary, and it probably would be necessary, DB would force Trump and his Organization into Chapter 7 (for the seventh time?) I kind of wonder, though...there are some Sovereign Wealth Funds in the Gulf who are forever looking for investment opportunities and they don't give two rat farts about "optics" or "democracy" or "human rights". One or another of these royal thugocracies would probably bail Trump out but at a cost. They won't hesitate to use their leverage. Or maybe Daddy Putin will come to the rescue. Either way, it won't come cheap.

 

Likely - with Spermbank -- oops, I mean Sberbank - Russia's biggest.

Putin Khuylo! Tramp Kakashka!

 

The noose tightens.

(He may still slip out. He is extremely slimy.)

 

I can't say that there is any reason to suspect criminal acts here, not yet anyway.

 

There's still hope .... I hope.

 

Net worth of $3 Billion? Based on what? His own CPA firm is telling the world not to rely on the last ten years of financial statements. He might have $3 Bn net. He might not. He MIGHT be broke. At this point, no one outside the Inner Trump Circle can know for sure and even they might be in the dark. We will know for sure when he meets, or fails to meet, the debt repayment dates in 2023 and 2024.

 

I have some personal expertise in being broke - and Mr Trump will find that age 75+ is NOT the best time to be broke. He should have got around to it earlier, as I did. Being broke is not for sissies. The comeback trail is hard - at any age.

 

I think the reason the accountants are specifically disavowing the financial statements is because of Trump's willingness to lie to his accountants. As has been documented at length elsewhere, Trump regularly had accountants produce "Statements of Financial Condition" that frequently conflicted with each other, raising or lowering the value of his properties depending on whether he was trying to dispute a tax bill or get a new loan, or even excluding them entirely when it made his finances look bad.

 

Some parts are known outright lies. He owns a 10,000 sq ft apartment in NY. That is huge folks. I have some relatives shopping for a 3,000 sq ft apartment in NY and they're around 3 or 4 million. The problem is that he claimed it was 30,000 sq ft apartment.

The accounting firm telling him they can no longer work for him is huge!!! It likely means they've decided to cover their butt and work with the prosecutor.

 

Really? Then I'll bet he's told some awful lies to women...

 

NY attorney general says Donald Trump falsely inflated the value of his Trump Tower apartment by claiming it was 3 times its actual size
https://www.businessinsider.com/ny-ag-trump-falsely-valued-apartment-3-times-real-size-2022-1

 

My house is 1200 square feet. I can't even imagine a 30,000 square foot apartment.

 

Really! I'd think it would have to include things like a theater, indoor pool, indoor tennis court, multiple front rooms, multiple dining rooms, multiple kitchens, servants quarters, etc..

Here's a 30000 sq ft mansion in NY. Eight bedrooms and 18 bathrooms!

https://www.google.com/search?q=what+does+a+30,000+square+foot+apartment+look+like&rlz=1C1CHBF_enUS869US869&sxsrf=APq-WBtZKMdxwhFdXqmZKv6FohlLN0DhWg:1644981853421&tbm=isch&source=iu&ictx=1&vet=1&fir=qfm3GY41BjWX4M%2CDmxs1N_LNMKIsM%2C_%3BtGq9hW8QyLKvTM%2ClYworSJnspUs0M%2C_%3BtCiy0Ovk6uQG-M%2CfM3SCLimyMffpM%2C_%3B9Xfyp2JwaaYNBM%2C6HPy31W_UqgcuM%2C_%3BlBHdcqq64NICCM%2CeY-zE3l2vY4PZM%2C_%3BO7urc4fOY9N11M%2CUbSe-jX9Tfy2TM%2C_%3BJqqSgcMGjKv6hM%2C68GDo0xulHixdM%2C_%3BDVnrr3F_Iy21pM%2C2_fSLGaLnpfwxM%2C_%3BneQOmFsnqbBg6M%2CANCxLmnYGTrAHM%2C_%3BKBoUFM1Qyh46QM%2CmiECGNleeWQ5AM%2C_&usg=AI4_-kTN9LwZfobyQjRhchO1J1qL-Xql4w&sa=X&ved=2ahUKEwidrKP4ooP2AhWInGoFHRcOCMoQ9QF6BAgDEAE#imgrc=lBHdcqq64NICCM

 

There is probably a bigger one somewhere - but the largest I remember reading about was Dr. Shaquille O'Neal's house (Yes, Barry University - RA and earned, not honorary.) It was 60,000 sq. ft and included an NBA regulation-size indoor basketball court. And Shaq, unlike Trump, don't lie -- about anything, to anyone. He doesn't need to. He keeps it real.

 

My guess is he has capacity to support his lifestyle with borrowing. Or had, until this moment. He famously went through this before, after bankrupting several casinos in Atlantic City. Rich folk even go broke differently. (I am bastardizing a quote from the last one of Christofer Nolan's Batman movies. Bruce Wayne went broke in that one, but "they let me keep the mansion" )