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Thread: The Trump Conflict Of Interest Thread

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    The Trump Conflict Of Interest Thread

    Because there will be enough to fill a thread!

    First one from today: Trump Org pressured Kuwait's embassy to move a planned event to Trump's hotel:

    http://boingboing.net/2016/12/20/tru...mbassy-of.html

    To gain insight into why this thread will fill with incidents: Newt Gingrich did a radio interview where conflict of interest came up. He said that Trump could hire any relatives he wanted, then give them all a blanket pardon to stop any legal action against it. He then said that Congress should change the ethics laws for Trump:

    http://www.politico.com/blogs/donald...ongress-232828

  2. #2

    Re: The Trump Conflict Of Interest Thread

    let us not forget his choice for Sec of State was an oil executive that may as well be in bed with Putin.
    "When you name your baby Jeeves...you've pretty much set up his career for life. You don't see many Hit Men, for example, named Jeeves. "Pardon me sir, but I must wack you now."
    — Jerry Seinfeld

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    Re: The Trump Conflict Of Interest Thread

    Wouldn't that be covered by the "Misdemeanors" part of "High Crimes & Misdemeanors?" I think a low level count of Obstructing Justice could be considered in such a specific case.

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    Re: The Trump Conflict Of Interest Thread

    I saw the Newt Gingrich stuff earlier. It made my brain bleed, and if I had any faith in his intelligence whatsoever I might believe that was the intention, but I don't. Lack of foresight is practically the motto of people like this, branded into their asses on the day of their birth.

    Everyone is freaking out at the possibility of tyranny. I sort of hope they try it, and get slapped down. It would be a glorious sacrifice to the God of Hubris.

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    Re: The Trump Conflict Of Interest Thread

    "But the law doesn't say I COULDN'T!"
    "Don't yell at S-D for using words you're not completely sure of, it embarrasses you. He's right anyway." - Alikat

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    Re: The Trump Conflict Of Interest Thread

    Trump stiffed temporary employees at his golf course of ALL their pay for a 10-day event they worked. His other employees are faced with unpresidented situation of their boss/president overturning overtime rules and minimum wage in order to save himself money.

    http://www.npr.org/2016/12/20/506186...ts-of-interest

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    Re: The Trump Conflict Of Interest Thread

    A whole laundry list from Vanity Fair:

    http://www.vanityfair.com/news/2016/...terest-impeach

    Sent from my SM-G935P using Tapatalk

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    Re: The Trump Conflict Of Interest Thread

    He has Ivanka supposedly running his business for him, but he has her sitting in on some of his pre-president briefings.

    I predict this thread will grow long...

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    Re: The Trump Conflict Of Interest Thread

    Trying to end one source of conflict (and controversy): Trump is dissolving the Trump Foundation, his "charity":

    http://www.cnn.com/2016/12/24/politi...ion/index.html

    Call me when he liquidates his business empire, and that of his kids. This is just trying to skip out on all the crap he pulled with the charity.

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    Re: The Trump Conflict Of Interest Thread


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    Re: The Trump Conflict Of Interest Thread

    Quote Originally Posted by Delores Mulva View Post
    Trying to end one source of conflict (and controversy): Trump is dissolving the Trump Foundation, his "charity":

    http://www.cnn.com/2016/12/24/politi...ion/index.html

    Call me when he liquidates his business empire, and that of his kids. This is just trying to skip out on all the crap he pulled with the charity.
    This is why the Democrats need to have an investigator on this yesterday. God knows Republicans would have 4 different groups investigating the Clinton Foundation by now if she were going to be the next President.

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    Re: The Trump Conflict Of Interest Thread

    My linked story has been updated to include the New York AG's reaction: it's under investigation, it can't be wound up until that investigation is complete.

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    Re: The Trump Conflict Of Interest Thread

    Fyi, this is a real definition!


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    Re: The Trump Conflict Of Interest Thread

    Hie thee to a Trumpery! To a Trumpery, go!

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    Re: The Trump Conflict Of Interest Thread

    Trump May Have a $300 Million Conflict of Interest With Deutsche Bank

    For years,Donald Trump has used a powerful tool when dealing with bankers: his personal guarantee.

    Now that guarantee -- employed to extract better terms on hundreds of millions of dollars of loans to theTrump Organization -- is at the center of a delicate loan-restructuring discussion atDeutsche Bank AG, which is under investigation on several fronts by the U.S. Department of Justice.

    The bank is trying to restructure some of Trump’s roughly $300 million debt as part of an attempt to reduce any conflict of interest between the loan and his presidency, according to a person familiar with the matter. Normally, the removal of a personal pledge might lead to more-stringent terms. But there is little normal about this interaction. Trump’s attorney general will inherit an investigation of Deutsche Bank related to stock trades for rich clients in Russia -- where Trump says he plans to improve relations -- and may have to deal with a possible multibillion-dollar penalty to the bank related to mortgage-bond investigations.

    Whatever terms a restructured loan might include, they will reflect the complex new relationship spawned between Germany’s largest bank and its highest-profile client. Ethicists say this concerns them.

    ‘Looks Terrible’

    “When you have political appointees making decisions about banks that the president owes a lot of money to, it looks terrible,” saidRichard Painter, a law professor at the University of Minnesota who was the chief ethics lawyer for PresidentGeorge W. Bush. “The U.S. government is dealing with regulatory and criminal issues with the big banks all the time, and if he owes them a lot of money, there might be an incentive to favor less regulation and less enforcement for the banks.”

    Deutsche Bank declined to comment. Alan Garten, general counsel of the Trump Organization, said the loans are modest in the context of Trump’s multibillion-dollar empire, and the effort to shift away from a personal guarantee isn’t significant because the loans were structured to become standard debt eventually, following completion of the projects.

    The scramble to restructure is the latest chapter in Trump’s fraught relationship with Deutsche Bank, one of the few financial institutions on Wall Street that still does deals with a man long known as a publicity-seeking and unconventional real-estate developer who didn’t hesitate to sue his lender eight years ago.

    Deutsche Bank also lends to Trump’s extended family, including his son-in-lawJared Kushner. Weeks before the election, the bankrefinanced most of the $370 million of debt against retail spaces Kushner’s company owns in midtown Manhattan.

    Angry Bankers

    Trump’s dealings with Wall Street stretch back decades to his attempt to build an Atlantic City casino empire. That badly timed push forced him to renegotiate with creditors when he couldn’t pay back billions of dollars in loans. His major backers in that era included Citbank, Chase Manhattan Bank and Bankers Trust -- a bank that was acquired by Deutsche Bank in 1999 -- and the debacle left a trail of angry lenders.

    Deutsche Bank’s relationship with Trump actually predates its Bankers Trust purchase. In 1998, a small group of its real-estate bankers led by Mike Offit underwrote a $125-million loan for renovations on Trump’s building at 40 Wall Street. Trump showed up at Offit’s office, his reputation badly bruised. Deutsche Bank’s fledgling property business -- in operation for only a year at the time -- was the only group willing to take on Trump, Offit said in an interview.

    “I had one way to succeed -- that was to make this thing big and profitable,” said Offit, who is now retired and has written a novel about Wall Street. “If I was super conservative and wasn’t willing to do some unusual stuff, how was I going to compete?”

    Best Client

    The bank’s real-estate business became one of the most active lenders in Manhattan. Trump was his best client, Offit said, always professional and well-versed in the details of his projects. In the 1990s, Offit and a team led by loan officer Eric Schwartz financed the construction of Trump World Tower on the eastern edge of Manhattan and backed his failed bid to redevelop the site of the New York Coliseum.

    When Offit left Deutsche Bank in 1999, Schwartz became a linchpin for the relationship with Trump, including his attempt to buy out a partner at the General Motors Building in 2001, according to people involved in the deals. Schwartz, who left Deutsche in 2009, declined to comment.

    In 2005, the bank approved a $640 million construction loan so Trump could build his name-sake tower in Chicago. The tower, with dozens of multimillion-dollar condos, broke ground at the height of the real-estate boom. As the project neared completion, the financial crisis hit, sending the global real-estate market crashing. And when part of the loan came due, rather than pay it, Trump sued a lending consortium led by Deutsche Bank for $3 billion.

    Force Majeure

    His suit argued that the financial crisis was equivalent to an earthquake, triggering a “force majeure” clause, which allows for a payback extension in extraordinary circumstances. Deutsche Bankcountersued, claiming Trump owed a $40 million payment, which was a personal guarantee on the debt. The two latersettled and, surprisingly, continued doing business together.

    Today, the president-elect owes about $300 million to the bank, nearly half of his outstanding debt, according to a July analysis by Bloomberg. That figure includes a $170-million loan Trump took out to finish his hotel in Washington. He also has two mortgages against his Trump National Doral Miami resort and a loan against his tower in Chicago. All four debts come due in 2023 and 2024. Garten said the Chicago loan no longer has Trump’s personal guarantee because the project has been completed.

    The most recent batch of loans originated out of Deutsche Bank’s private-wealth management unit, where Trump deals primarily with Rosemary Vrablic, according to two people familiar with the matter.

    Vrablic joined the group in 2006 after stints at other companies, including Bank of America. Her other clients includeHerbert Simon, owner of the Indiana Pacers basketball team. Simon didn’t return calls seeking comment.

    Largely Unknown

    Vrablic, who is largely unknown on Wall Street outside of private-banking circles, was thrust in the spotlight earlier this year after Trump uttered her name in public.

    The loans, before restructuring, appear to be a good deal for both sides. Trump locked in a low interest rate, around 2 percent over the benchmark, and has relative freedom to do what he wants with the money. In return, Trump personally guaranteed the loans.

    As the bank scrambles to restructure the loans, it has options. It could remove the personal guarantee, which could require increasing the interest rate or laying out restrictions on how the money is used. Trump also could put assets such as stocks and bonds into an escrow account, which would effectively act as the guarantee.

    Meanwhile, Deutsche Bank has been negotiating a multibillion-dollar settlement with the Department of Justice for mishandling the sale of mortgage bonds to other banks. If not settled by then, the department will be overseen by a political appointee of Trump’s after January 20th.

    Adds Deutsche Bank-Bankers Trust history in ninth, tenth paragraphs.

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    Re: The Trump Conflict Of Interest Thread



    Apparently, these were Scottish Tweets about Trump when he was over there. Probably all from one account by some enchanter wank!

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    Re: The Trump Conflict Of Interest Thread

    Merkus
    buhahahhahahahahaha! classic!

    no wasn't me, as I don't have Twitter, but, have used one or two about him though lol

  18. #18

    Re: The Trump Conflict Of Interest Thread

    Just remember all the gators that Trump is refilling Swamp V2.0 with....

    Want US cities to look like this...
    http://mashable.com/2017/01/01/china.../#zPJegXhbnaqy

    Because choking smog=profits and a greater America.
    "When you name your baby Jeeves...you've pretty much set up his career for life. You don't see many Hit Men, for example, named Jeeves. "Pardon me sir, but I must wack you now."
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    Re: The Trump Conflict Of Interest Thread

    Well maybe the ONE group Trump may not piss off, and his policies may actually support could be the Russian gay leather boy BDSM crowd??

    *the Blue Oyster Bar music plays!*




    trump putin.jpg

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    Re: The Trump Conflict Of Interest Thread

    Quote Originally Posted by FilanFyretracker View Post
    Just remember all the gators that Trump is refilling Swamp V2.0 with....

    Want US cities to look like this...
    http://mashable.com/2017/01/01/china.../#zPJegXhbnaqy

    Because choking smog=profits and a greater America.
    got extremely pissed off as per usual, on BBC site the usual fuckwits (how many of whom I wonder are paid for shills by the energy corporations) left ltos of comments on article today about Trump's Cabinet and attacks on Climate Change
    http://www.bbc.co.uk/news/science-environment-38484730

    yes you stupid fuckwits out there (regarding the commenters) Humans can affect Climate and funnily enough how they demand only WW3 could change climate because that's exactly where it WILL lead to
    For example: what will China do when so much of it's food producing areas are damaged by constant cycles of extreme weather effects that it's entire populace begins to starve, hm?
    Blitzkrieg Russia to seize the grain lands of the Ukraine etc, or down into India or Thailand, and exterminate all their "useless" populations?

    Smog is short term, the longer term effects of acid rain and lung and other health damage to Humans is ENORMOUS
    as noted, my area has lower life expectancy than North Korea because of such
    we had horrendous rates of violent crime and other issues which IMHO were a result of the heavy metals and other damage from the pollution
    beyond just the ordinary particulate matter we associate with smog and the belching clouds of toxic crap from smelters and coal fired power stations and coke works, more recent work had shown the dangers of proverbial "nano" particles which can penetrate the blood brain barrier and cause brain damage

    that violent crime etc had serious negative impacts on our area beyond what you'd expect, for example the gangsters, backed and supported by the corrupt police, actually caused quite a few businesses to fail, because they robbed, abused, raped staff and stole/extorted money, or the owners/managers, being decent people, just packed up in disgust
    Consider the fact Hitler, and possibly Mao and a few other mass murdering maniacs through history (Idi Amin being another possible as well as Al Capone) were such horrors because of health problems (syphilis in their cases)
    now imagine VAST numbers of people with mental health problems caused by pollution...that is a TERRIBLE problem for society

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