October 2, 2016

Trump's skill was making money for himself not for his businesses

Vox - Russ Buettner and Charles V. Bagli have a fantastic, in-depth, 5,000-word account of Donald Trump’s business dealings in Atlantic City for the New York Times that is full of lurid details that amount to this core point: Trump’s New Jersey casinos were never successful operating businesses, but they did make a lot of money for Donald Trump personally, because he tunneled assets out of the enterprises into his own pockets.
While the sheer range of businesses Trump has been involved with over the years — real estate development, casinos, suits, reality television, steak, water, a "university," books, presidential politics — may offer the superficial appearance of a broad range of mastery, the story of Trump’s adventures in Atlantic City reveal something else.
Across these ventures, Trump has mastered essentially a single skill — structuring deals to be financially beneficial to him personally regardless of whether the underlying business is successful. Rather than creating wealth for his business partners, Trump took advantage of investors who believed in him in order to benefit himself personally — just as he did years later with the "students" at Trump University.


Anonymous said...

If Trump wins, then I hope the GAO keeps Trumps expenditures and any other place where he comes at all close to money under a powerful microscope, because Trump will endeavor to line his pockets like he always does. We already have the military loosing billions of dollars they cannot account for, lets not have a Trump administration doing the same thing.

Anonymous said...

Sam, where are your stories about all the money going to the Clinton Foundation that did not end up in Haiti? And Bush complicity?

Interesting how the Bushes are so supportive of the Clinton's. I guess this proves the maxim "Thick as thieves".

Seems to me as bad as what Trump may have done, scamming victims of disasters ranks much more important on a karmic level.