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Peony43 : trump-business-acumen   11

Trump’s false claim he built his empire with a ‘small loan’ from his father - The Washington Post
Trump’s claim that he built a real-estate fortune out of a “small” $1 million loan is simply not credible. He benefited from numerous loans and loan guarantees, as well as his father’s connections, to make the move into Manhattan. His father also set up lucrative trusts to provide steady income. When Donald Trump became overextended in the casino business, his father bailed him out with a shady casino-chip loan—and Trump also borrowed $9 million against his future inheritance. While Trump asserts “it has not been easy for me,” he glosses over the fact that his father paved the way for his success — and that his father bailed him out when he got into trouble.
trump-business-acumen  art-of-the-deal  omni 
february 2018 by Peony43

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