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Wells Fargo. JPMorgan Chase. Fidelity Investments. Prudential PLC. Vanguard Group. These are among the major financial institutions that own business debt held by Donald Trump, according to an investigation just published by the Wall Street Journal.

While the president-elect’s finances remain murky, due largely to his refusal to release his tax returns, the newspaper reports that he owes at least hundreds of millions of dollars, that the debt is held by more than 150 institutions, and that some of it is backed by his personal guarantee. “As a result, a broader array of financial institutions now are in a potentially powerful position over the incoming president,” it states. “If the Trump businesses were to default on their debts, the giant financial institutions that serve as so-called special servicers of these loan pools would have the power to foreclose on some of Mr. Trump’s marquee properties or seek the tens of millions of dollars that Mr. Trump personally guaranteed on the loans.”


One wonders whether to be more worried about Big Finance using its leverage to influence the president or the president abusing his power in order to thwart his creditors.

Either way, Trump’s decision to hold on to his opaque business empire while president, rather than liquidating his interests to focus on the good of the country, has created unprecedented conflicts of interest that even a saint would have difficulty navigating in office. In a prior column, I noted a New York Times investigation into a portion of Trump’s business dealings in foreign countries, arguing that in India, China, Turkey, Saudi Arabia, Indonesia, Brazil, Argentina, and other countries besides, there will be countless occasions where the interests of the United States and the interests of the Trump organization diverge.....

Wells Fargo & Co., for example, runs at least five mutual funds that own portions of Trump businesses’ securitized debt, according to an analysis of mutual-fund data conducted by Morningstar Inc. for the Journal.

The bank also is a trustee or administrator for pools of securitized loans that include $282 million of loans to Mr. Trump. And Wells acts as a special servicer for $950 million of loans to a property that one of Mr. Trump’s companies partly owns, according to securities and property filings.

Wells Fargo is currently facing scrutiny from federal regulators surrounding its fraudulent sales practices and other issues. Once he takes office, Mr. Trump will appoint the heads of many of the regulators that police the bank.

Ivytalk wrote:Klam, it should be a fun four years for you!

Who will you root for in Wall Street and Big Banks v. Drumpf?

kalm wrote:

Ivytalk wrote:Klam, it should be a fun four years for you!

Who will you root for in Wall Street and Big Banks v. Drumpf?

The lawyers!

I just read a piece on FB from Robert Reich who was having dinner with a former (R) congressman. It basically boiled down to the fact that the Republicans all think Trump is insane, will use him to get their agenda passed, then impeach him in favor of their guy, Pence. And then Trump gets the blame for the policies.

The theories that Trump won't finish the term are starting to make a little sense.

What's the over/under?

AZGrizFan wrote:Wall Street owns Trump
Muslims owned Obama

You pick.

Chizzang wrote:Am I the only person that thinks Pence is actually far more dangerous and insane than Trump..?
It's the whole Cheney / Bush thing all over again



Trump is outwardly more nutty and obvious
but Pence is a fundamentalist true believer
and nothing is more dangerous than that

Chizzang wrote:Am I the only person that thinks Pence is actually far more dangerous and insane than Trump..?
It's the whole Cheney / Bush thing all over again



Trump is outwardly more nutty and obvious
but Pence is a fundamentalist true believer
and nothing is more dangerous than that

Chizzang wrote:Am I the only person that thinks Pence is actually far more dangerous and insane than Trump..?
It's the whole Cheney / Bush thing all over again



Trump is outwardly more nutty and obvious
but Pence is a fundamentalist true believer
and nothing is more dangerous than that

kalm wrote:

Chizzang wrote:Am I the only person that thinks Pence is actually far more dangerous and insane than Trump..?
It's the whole Cheney / Bush thing all over again



Trump is outwardly more nutty and obvious
but Pence is a fundamentalist true believer
and nothing is more dangerous than that

Trump gave him good cover for sure but for a typical conservative, what's not to like?



"Those who would have us ignore the battle being fought over life, marriage and religious liberty have forgotten the lessons of history. America's darkest moments have come when economic arguments trumped moral principles."

Pence, speaking at the Family Research Council's Values Voter Summit in 2010.

Cluck U wrote:

kalm wrote:
Trump gave him good cover for sure but for a typical conservative, what's not to like?



"Those who would have us ignore the battle being fought over life, marriage and religious liberty have forgotten the lessons of history. America's darkest moments have come when economic arguments trumped moral principles."

Pence, speaking at the Family Research Council's Values Voter Summit in 2010.

Seriously...what does morality have to do with forcibly taking people's money to give it to those who YOU choose ("you," being the people who give out the money instead of those who had it taken from them)?

Taxing people has ZERO to do with morality.

kalm wrote:

Cluck U wrote:
Seriously...what does morality have to do with forcibly taking people's money to give it to those who YOU choose ("you," being the people who give out the money instead of those who had it taken from them)?

Taxing people has ZERO to do with morality.

So was Jesus an anarchist or just an extreme libertarian?

kalm wrote:So was Jesus an anarchist or just an extreme libertarian?

Cluck U wrote:

kalm wrote:
So was Jesus an anarchist or just an extreme libertarian?

Non sequitur much?

kalm, you are having a tough time lately...what is going on?

What does personal generosity have to do with forcing people to pay taxes in order to redistribute income involuntarily?

kalm wrote:
Here...I'll walk you through this.

Cleets posted about Pence's fundamentalism.

I posted a meme comparing Pence to Jesus.

Christian fundamentalism is Pence's gig, not mine.

Using tax dollars to support social welfare in a constitutional democratic republic is not forcibly taking someone's money. There is a shit ton of government spending I don't choose either.

I like you too Cluck!

phpBB [video]

Cluck U wrote:

kalm wrote:
Here...I'll walk you through this.

Cleets posted about Pence's fundamentalism.

I posted a meme comparing Pence to Jesus.

Christian fundamentalism is Pence's gig, not mine.

Using tax dollars to support social welfare in a constitutional democratic republic is not forcibly taking someone's money. There is a shit ton of government spending I don't choose either.

I like you too Cluck!

phpBB [video]

Holy crap, kalm...you are waaaaaaaaaaaaaaaaaaaaaaaaaay out in Left field here.

It's not forcibly taking people's money? Really? So, if you don't pay taxes, what happens? Do they just say, "Ok, my bad...never mind."













Now that that we've cleared up your confusion about whether taxation is voluntary or a product of forced income distribution, do you get your disconnect?

Pence is an individual. He might give money to charity. Hell, he might give away a fortune to charity...who knows? Jesus, despite having a wetback's name, was not talking about forcing the Roman government to take money from their rich and give it to their poor. Jesus was talking about charity as individuals.

Now, if you can prove that Pence doesn't give any of his personal wealth to charity, you might have a point besides the one on your head.

kalm wrote: Forcibly can also mean by force or violence.

Every dime government spends is "forced income redistribution."

We consent to it (albeit in some instances begrudgingly) and have the ability to change it through the democratic process.

kalm wrote:

Chizzang wrote:Am I the only person that thinks Pence is actually far more dangerous and insane than Trump..?
It's the whole Cheney / Bush thing all over again



Trump is outwardly more nutty and obvious
but Pence is a fundamentalist true believer
and nothing is more dangerous than that

Trump gave him good cover for sure but for a typical conservative, what's not to like?



"Those who would have us ignore the battle being fought over life, marriage and religious liberty have forgotten the lessons of history. America's darkest moments have come when economic arguments trumped moral principles."

Pence, speaking at the Family Research Council's Values Voter Summit in 2010.

BDKJMU wrote:

kalm wrote:
Trump gave him good cover for sure but for a typical conservative, what's not to like?



"Those who would have us ignore the battle being fought over life, marriage and religious liberty have forgotten the lessons of history. America's darkest moments have come when economic arguments trumped moral principles."

Pence, speaking at the Family Research Council's Values Voter Summit in 2010.

Eliminates food stamps for 65,000 residents only if they have no dependent children, are able bodied, and refuse to seek job training or work. “any able-bodied Indiana adult without children will need to be working at least 20 hours a week, be in job training, or searching for employment in order to qualify.”
http://fox59.com/2014/10/20/indiana-ado ... thousands/
Oh the horrors!

Gives corporations the largest tax break in history and also gave individual citizens the largest tax break in history. It was only the 2nd tax cut in Indiana state history..to go along with Indiana's 2+ billion budget surplus under Pence and highest in the nation state credit rating.
http://www.indystar.com/story/news/2016 ... /87382720/

Provides zero state funding for homeless shelters. While technically true, neglect to mention that:
"..So Pence has not requested funding homeless shelters, but it’s worth noting that’s far from unique in Indiana. The state budget ultimately is the work product of the Legislature, not the governor. And the lack of state funding has been consistent under Republican and Democratic leadership. (Indiana had Democratic governors from 1989-2005, before electing Republican Mitch Daniels and then Pence.)

Michael Stoops, director of community organizing with the advocacy group National Coalition for the Homeless, told PunditFact that Indiana follows the pattern of many rural and southern states.

"They are getting federal homeless dollars and passing them through to the cities and counties," Stoops said. "They don’t spend any of their own money.".."
http://www.politifact.com/punditfact/st ... nfavorabl/

Signs discrimination law that targets their LGBT neighbors. Signs a law that prevents private entities from being forced to compromise their religious beliefs under threat of legal action.

CID1990 wrote:I think this presidency is going to be fascinating - our government is not set up to be run by anyone who actually makes things or has large financial interests.

AZGrizFan wrote:Wall Street owns Trump
Muslims owned Obama

You pick.

Chizzang wrote:Am I the only person that thinks Pence is actually far more dangerous and insane than Trump..?
It's the whole Cheney / Bush thing all over again



Trump is outwardly more nutty and obvious
but Pence is a fundamentalist true believer
and nothing is more dangerous than that