Last updated on July 17th, 2023 at 09:15 pm
To See President Biden's 5 Best Jokes At The White House Correspondents Dinner visit The Daily.
It’s raining Trump stories today, and they are all so compelling and revelatory that it’s hard to pick what to focus on.
Buried in Kurt Eichenwald’s Newsweek investigation into Donald Trump’s illegal dealings with Communist Cuba were two paragraphs about his business desperation and failure that are most revealing, because they strip away the gilded image of the showman and leave behind yet another rotting, crumbled collapse of a business venture resulting in bankruptcies. This is the kind of “businessman” Donald Trump is.
And since Trump says he’s going to run America like he runs his businesses, this is most important.
From Newsweek (my bold):
That fall, as critics pressured Clinton to further loosen the embargo, Trump Hotels saw an opportunity. Like the communist regime, the company was struggling, having piled up losses for years. In 1998 alone, Trump Hotels lost $39.7 million, according to the company’s financial filings with the Securities and Exchange Commission. Its stock price had collapsed, falling almost 80 percent from a high that year of $12 a share to a low of just $2.75. (After multiple bankruptcies, Trump severed his ties with the company; it is now called Trump Entertainment Resorts and is a subsidiary of Icahn Enterprises, run by renowned financier Carl Icahn).
The company was desperate to find partners for new business which offered the chance to increase profits, according to another former Trump executive who spoke on condition of anonymity. The hotel and casino company assigned Seven Arrows, which had been working with Trump for several years, to develop such opportunities, including the one in Cuba.
The stock of Trump Hotels lost almost 80% of its value.
Can America afford to lose 80% of its value?
There is no government to bail out the government. The only hands to take from are the people’s. So when Trump bankrupts America like he has so many of his businesses, it will be your wallet he steals from.
Sure, that’s what happened under George W Bush so maybe it’s just inevitable with trickle down economics that it really only trickles up, but we can’t afford that. We deserve better than this broken sham of a man who has been propped up by his daddy’s money and shark, thug lawyers.
Trump is a great showman. He deserves credit for being a tremendous liar who can sell almost any piece of crap to a lot of people. But just like his gaudy, nouveau riche homes don’t appeal to many, so too is his egotistical need to get into the White House not appealing to many.
The White House is for Donald Trump another way to prove himself worthy, a way to get back at President Obama for shaming him over his birther conspiracy theories, yet another opportunity to exploit and plunder.
Donald Trump is no businessman. He is a thin-skinned, mob-style gangster who inherited millions and has the cunning to use the law as a weapon of mass destruction against all who cross him.
Trump is not the picture of success. He is the picture of a desperate man whose business lost 80% of its value and to fix this, he illegally did business with a dictator and a murderer even though he promised Cubans in Florida that we would keep the embargo going to punish Castro.
Even after stooping that low, Trump still failed to fix the disaster of his Trump Hotels business.
Listen to Sarah on the PoliticusUSA Pod on The Daily newsletter podcast here.
Sarah has been credentialed to cover President Barack Obama, then VP Joe Biden, 2016 Democratic presidential candidate Hillary Clinton, and exclusively interviewed Speaker Nancy Pelosi multiple times and exclusively covered her first home appearance after the first impeachment of then President Donald Trump.
Sarah is two-time Telly award winning video producer and a member of the Society of Professional Journalists.
Connect with Sarah on Post, Mastodon @PoliticusSarah@Journa.Host, & Twitter.
