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Trump attempted to exploit his elderly father in order to save himself from financial ruin


Mainecat

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What a nice guy.....

Trump attempted to exploit his elderly father in order to save himself from financial ruin

Donald Trump, facing financial ruin, sought control of his elderly father’s estate. The family fight was epic. 

“It was basically taking the whole estate and giving it to Donald,” Trump’s sister said in secretly recorded audio 

By Michael Kranish 
Sept. 27, 2020 

Donald Trump was facing financial disaster in 1990 when he came up with an audacious plan to exert control of his father’s estate. 

His creditors threatened to force him into personal bankruptcy, and his first wife, Ivana, wanted “a billion dollars” in a divorce settlement, Donald Trump said in a deposition. So he sent an accountant and a lawyer to see his father, Fred Trump Sr., who was told he needed to immediately sign a document changing the will according to his son’s wishes, according to depositions from family members. 

It was a fragile moment for the senior Trump, who was 85 years old and had built a real estate empire worth hundreds of millions of dollars. He would soon be diagnosed with cognitive problems, such as being unable to recall things he was told 30 minutes earlier or remember his birth date, according to his medical records, which were included in a related court case. 

Now, those records and other sources of information about the episode obtained by The Washington Post reveal the extent of Fred Trump Sr.’s cognitive impairment and how Donald’s effort to change his father’s will tore apart the Trump family, which continues to reverberate today. 

More: 

https://www.washingtonpost.com/graphics/2020/politics/donald-trump-father-will/
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44 minutes ago, Angry ginger said:

only way trump financially survived is parental largess.   those who think he is self made are idiots.  Guys a good marketer of himself but tons of those businesses he tried failed.  

And a crook.

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2 minutes ago, Mainecat said:

NOT THE SAME! It looks like he broke the rules.

We never fucked over family members.

Your family carried you, I can’t imagine the sandwich order taker was very important to the non union employees 

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43 minutes ago, Mainecat said:

At least I have a family

I’m sure the people at the group home consider you family.
 

Sharpton

Rangel

Kerry

Geithner

Daschle

Jefferson

Franken 

Kennedy...

 

All dodged taxes and liberals didn’t seem to mind?

 

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21 hours ago, Angry ginger said:

only way trump financially survived is parental largess.   those who think he is self made are idiots.  Guys a good marketer of himself but tons of those businesses he tried failed.  

Several from the audit world who were involved in the proceedings in the early 90's have stated that the only thing that saved him from personal bankruptcy in the 90's was his name, nothing more. Even when measured against his outstanding liabilities he was worth more to them whole based solely on his name. 

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59 minutes ago, frenchy said:

Several from the audit world who were involved in the proceedings in the early 90's have stated that the only thing that saved him from personal bankruptcy in the 90's was his name, nothing more. Even when measured against his outstanding liabilities he was worth more to them whole based solely on his name. 

Have to look at all the collateral damage before you execute.  Taking  trump down diminished the value of their security,  his name had value in resi/commercial RE.   His ego made him think that the name could be paired with anything but Trump Air,  Trump Vodka, Trump U,  Trump mortgage etc all proved that was not the case.   

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5 minutes ago, ArcticCrusher said:

Is Bezos self made?

Just checking.

He is definitely more successful than Trump. 

Jeff Bezos, now the richest man in modern history, began with a $US100,000 “investment” in 1995 from his parents after leaving “a cushy gig on Wall Street”, where he served as vice-president of D. E. Shaw & Co, to pursue Amazon – what was then a fledgling online bookstore, and is presently a domineering retailer powerhouse.

A grainy photograph of Jeff Bezos’ Amazon office in 1999 has been shared countless times, with some compact inspiration message attached: “Everyone starts somewhere,” one tweet reads. “Just keep going.” The still image, taken from Bob Simon's interview with Bezos for 60 Minutes, is now used to invigorate and uplift the downtrodden, as though to say that Bezos toiled for his earnings, and they have the opportunity to do the same should they want it bad enough.

 

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  • Trying to pay the bills, lol



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