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[vertical_doug]

Trump never went bankrupt. It’s intellectually dishonest to imply that he did. Several business he opened went bankrupt, which is not uncommon when someone runs and frequently opens many businesses. Having one of the many businesses he runs going bankrupt is much, much different than trump going bankrupt. I’d bet half or more of the bankruptcies you mention are casinos. I’m not sure your ‘real estate cash flow is super easy’ theory really applies to casinos. Frankly I don’t think it applies to real estate either. I simply don’t agree with your implication that giant real estate projects are simple to successfully manage.

Your post also seems to praise Bezos for showing losses and taking full advantage of tax law yet criticizing Trump for similar things.

Yes, Amazon produces audited financials. They’re a public company, they have to.

IMHO, implying that any wildly successful businessman is incompetent based on several bankruptcies is your politics overriding reality.

There’s a great many things to dislike about trump. Maybe folks simply don’t agree with his politics. I just don’t understand the need for the full-court-press of twisting & distorting every aspect of his life.

You are correct on the bankruptcy, I should have been more correct with my grammar. Although his companies bankruptcy almost brought him to ruin since he had a personal guarantee on the loan. Fortunately for him, the banks believe they had a better chance of recouping some of the losses if he remained involved.

I did not say he was incompetent, I said his organization was getting the model wrong which I believe is a factually correct statement. I also gave a second possibility, which mirrored what some other raiders did in the 80's and 90's. I did not say the practice was incompetent, just it was a sharp practice although not illegal.

I also said there is a certain amount of hate the game not the player. Some of this is part and parcel for the real estate market. Although in this case, I think Trump record of short changing contractors and others leans to the dirtier side. He is not as predatory as a slum lord, but he isn't Trinity Church either.

Yes, as a public company Amazon does need to provide audited financials. As President, Trump has broken with recent practice of both candidates and Presidents disclosing their tax returns. Since he has not divested himself of his assets, he should at least provide tax returns for some disclosure on potential conflicts of interest. In a world of dark money, we need more transparency not less.

[theflashunc]

There Is No Way Donald Trump Actually Lost $1.17 Billion

The word the article dances around but never lands on, and the Times investigation from last fall outlined rather clearly, is fraud. In this case, tax fraud.

The whole business empire was a con job. From Fred's self dealing and billing to Donald's now seeming tax fraud.

A major underlying question continues to be how he cash flowed the work. Where was the money coming from? If an American bank wouldn't touch this guy for damn near 30 years, and his only know foreign bank has become known as essentially a giant money laundering operation for Eastern European (particularly Russian) money, it calls back into question why his financial statements are critical to understand what, if any, geopolitical consequences this has.

So just where has the money come from? It's clearly not from successful business ventures. That's been put to the sword.

[BBB]

I think basically the Trump tax returns are a red-herring. He's not hiding anything there except his actual worth.

But really, the economy is the only thing that would kill off his second term. And I don't think that's going to tank until the second or third year of his second term.

ANYWAY, on with the cool news articles!

Maybe. But, it is not a great look if the actual worth is somewhat less than he boasts it is and as I understand the documents that have been released/leaked indicate some sort of tax fraud.

Trump will want a second term as being in office isolates him from legal troubles. That won't be the case for ever.

[guido]

Opinion | What Is Donald Trump Hiding? - The New York Times

[jlyon]

The losses came mostly from depreciation I believe.

If he had a building built for $390 million he could depreciate it over 39 years or $10 million a year for tax purposes.
So he probably has multiple building like this.

In reality each of these buildings is appreciating but generating tax losses. So yes I believe he is losing money for taxes and is a multi billionaire in his actual wealth.

I think my biggest gripe with Trump is he has destroyed the old republican party and what they stood for and has me considering where to place my political support in the future. But I believe something better will come from the ruins of the Republican Party.

[davids]

Opinion | It’s Time to Break Up Facebook - The New York Times

[72gmc]

I'm interested in the questions that the current president is raising about the definition of wealth, and the definition of success.

He brags about having an ocean of liquid wealth, when his cash flow may be more like a tidal flat in Newfoundland. The latter circumstance does not necessarily make him the opposite of wealthy or successful--but he seems to fear that his base won't see it that way.

Like a certain murder trial that spawned a generation of CSI narratives, the current conversation about wealth and finances could change the common voter's definition of both.

On another topic, I recommend anything Nick Paumgarten writes about skiing: The Wild Carnival at the Heart of Skiing’s Most Dangerous Race | The New Yorker

[j44ke]

....

On another topic, I recommend anything Nick Paumgarten writes about skiing: The Wild Carnival at the Heart of Skiing’s Most Dangerous Race | The New Yorker

But more than a thousand Austrian men in leather shorts and knee socks? Now that’s a white sausage party.

Priceless.

[davids]

On another topic, I recommend anything Nick Paumgarten writes about skiing: The Wild Carnival at the Heart of Skiing’s Most Dangerous Race | The New Yorker

I just read that yesterday. It was excellent.

OTOH, the piece on Georgian cooking left me bored.

[BBB]

On another topic, I recommend anything Nick Paumgarten writes about skiing: The Wild Carnival at the Heart of Skiing’s Most Dangerous Race | The New Yorker

That was a good read. Thanks.

[72gmc]

Here's the first of Nick's skiing stories that I read: A Ski Mountaineer and a History of Tragedy | The New Yorker

I never tried ski mountaineering, but I did ski patrol for a number of years, and all but lived for the sport (Greg rode as ski training? I'll do that). I remain fascinated by the way mountains call people away from safety, stability, and responsibility. Part of me says it doesn't make sense but another part of me knows otherwise.

[BBB]

Yeah that's a good one too.

[guido]

Opinion | Trump Is Terrible for Rural America - The New York Times

[theflashunc]

John Cassidy has been doing yeoman's work on the tax analysis of the Trump Empire, and this is worth a read:

Donald Trump’s Business Failures Were Very Real | The New Yorker

[ides1056]

Fact is, he's been really good at persuading some people who think they are really smart to do some really dumb things that have cost some poor slob way down the food chain a fortune in real dollars.

Deutsche Bank got played repeatedly, one division after another.

What he lacks in real gold he makes up for in brass, and that, in this day and age, is all it takes. Just plain brass.

[thollandpe]

Here's a riveting piece about just how dangerous, mortally dangerous, a malignant narcissist can be:

Hundreds of Bodies, One Nurse: German Serial Killer Leaves as Many Questions as Victims

A nurse, Niels Högel, admitted to dozens of murders but might have killed as many as 300 patients. So what prevented colleagues from stopping one of the world's deadliest serial killers?

Suspect and beware the institutions that hide wrongdoing, and protect the whistleblowers.

TH

[thollandpe]

...and protect the whistleblowers.

That should have read "and let us always remember to protect the whistleblowers." Believing them and providing cover should be our first instinct.

[guido]

The New Yorker Radio Hour-219-5-9 | The New Yorker Radio Hour | WNYC Studios

[j44ke]

https://www.washingtonpost.com/podca...=.5222c108b7dd

[davids]

This may be the best thing I've read so far this year: The Day the Dinosaurs Died | The New Yorker