MinBane

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Archive for the tag “Office Space”

Opinion: Is the White House for Sale?

This is a question that the Americans should ask themselves? Because, I am wondering as a foreigner, if my Kingdom doled some funds on Jared Kushner or on Ivanka Trump’s bank-accountants. Would  the Foreign policy will change because of that? That is a important paradigm shift from the Trump Administration.

Other, then being supportive of horrific migration policies towards immigrants and the ones who has liven there for generations, because it is only White America who deserves to live in the United States. The rest just living their and squatting there for time being. That is the memo the White House is sending out recently.

However, are the for rent signs on the lawn in front of the White House? Are there ads on Craigslist? Or is there unknown LLC that are in connection with the White House and delegates the newly operations from the Trump Organization abroad. As the Trump Organization and Kushner Companies continues to operate more abroad, getting loans from Qatar and Saudi Arabia. If not getting dozens upon dozens of Chinese Copyrights, while trying to build Hotels and Golf Courses all around the world.

Is this how the arrangements are done now? That you shake hands, trade-off deals with foreigners to companies in connected with the Trump Royal Family and then let-off the hook of the Nation in question. So if the need the US Army, the US Trade or lifting of sanctions, that will be softer after signing of deals with Ivanka or Jared. Because the Foreigners will deliver them a few silver coins, if their sanctions are lifted or trade of state companies get a better deal with the US; Because they gave some little money to the White House Royal Family.

The royal family, which is allowed to be revised over 40 times and as they didn’t follow procedure for their forms. Still to get security clearance and all the perks of the White House. This is happening as they are still enlarging their pockets and trading away their value at the Public Office. They are really playing high stakes with the Republic.

It is like they can buy and trade policies now, the foreign interference is evident and the change of narratives comes quickly, especially if the ones in this Trump Administration gets a pay-off. If there is need in a government agency, if the lobbyist or company needs changes of policies.

Remember pay someone off, especially pay off the Trump Family and relatives, then you get the princess and the whole kingdom. They are easily giving way, as long as the profits are returned and delivered to a random company of the Trump Organization. If it is money laundering or any other operation. As long as the Trump businesses get their cut, they don’t mind, that is what they do.

The White House is for sale, a giant haul sale and the evidence is in every story published, as the days go. I wonder how much does it cost to get them colluding with the Russians? Because surely that had a initial price. Surely, cost more than a box of crisps and a trademark in China. Peace.

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The new Financial Disclosure Form of 14th June 2017 – Doesn’t reveal anything about Donald Trump, because it isn’t verified value his supposed wealth!

Just as again this week there has been a new release of Financial Disclosure Form for President Donald J. Trump, still this is just estimates of his value, not the real-deal. That would be in a IRS Tax Returns. It is a reason why don’t surface, because the Financial Disclosure Form of 14th June 2017, is another bragging document and possible values of estates and businesses. But is not saying the real value, because how it is taxed is the real value.

Because all of the estate and values are from a possible value into a skyrocketed one, while the profits of it might be meager or decent. Therefore, a new released Financial Disclosure Form isn’t saying anything new. Other than President Trump is a coward, a little whiny bitch who cannot be transparent. Who doesn’t have the capacity or is so afraid of how he really has earned his money, that he knows it is damaging for him.

If he wasn’t afraid, if he wasn’t whiny, but was an honest businessman, we would have seen the IRS Tax-Returns in 2015 or even in 2016, but he doesn’t have the character. Even Hillary Clinton and her combined foundation with Bill Clinton, the Clinton Foundation had now troubles being open to society and disclose their earnings and profits. But Trump cannot do that because he is crooked and not honest.

I see no difference with this and what was delivered as his status as running Presidential Candidate, the ones that believes this paper is blind and has no vision. Since the various differences of value estimates are bananas. An estate cannot be either worth a million or ten million. It either is fixed to cost 1 million or cost 10 millions. Unless, the estate manager suck so much at his job that he cannot find people to give a just price for the prospect and the land it is on. So it seems like President Trump want to bloat his ego and try again to prove his wealth. That wouldn’t be surprising.

Like Trump Marks Istanbul II LLC a license deal with Ortadogu Otomotive Ticaret AS, the income amount in the paper says between $ 1,000,000 to $ 5,000,000. Because that is 4,000,000 difference of earning possibly, this is one company and it is amazing how much royalty difference and profits from this Turkish company or whatever it is. Since the Trump Organization and President Trump isn’t sincere. Since they would be straight forward with a set amount to the Internal Revenue Authority (IRS), since they don’t want to pay to much cents on the dollars of their profits. That is if they are really trying to earn monies on this company alone.

While the new Hotel in Washington D.C. the Trump Old Post Office has no difference in earnings and profits. It has a total income of $ 19,666,129 and value which is over $ 50,000,000. This means that still the agreed rent of the hotel and the total value of the property isn’t assessed, but since it has long-term rental facility, the Trump Organization doesn’t mind, secondly since it is important placed hotel they have to straight forward on the profits.

So when you have these sort of things, it is hard to believe as the steady lies and deception from the President. Someone like me, will only believe the IRS Tax Returns that isn’t being disclosed. Therefore, I cannot trust this man and his business practices, since his ways is not sincere and honest. Just like his misuse of students at Trump University and also the use of polish workers for building his Trump Tower. He has never had the ability to be truthful or use just behavior in his business practices. Peace.

Alfa Bank letter retort on Trump Organization allegations (17.03.2017)

Trump Organization have licenced 34 trademarks since February 2017 in China!

Today thanks to some people leaking to Chinese Gazette documents for a serious Industrial and Commerce Authority, I today found a little scoop on the ways Trump Organization does business, as they are clearly active in China. That might be reason why one of the most mentioned nations during campaign was China from the now President Trump. Therefore, take a look at this!

On the 27th February 2017, the Trademark Office of the State Administration for Industry and Commerce of the People’s Republic of China gazetted new trademarks that prove the use of Chinese Industry in production of labels for the United States President Donald J. Trump. Still, as he claims “America First” his companies continue to produce and licence their production abroad.

The Gazette from the Chinese Authorities of Industrial and Commerce Trade Marks for dozens of Donald Trump products, alone 10 Trade Marks in his name and owned by businesses to the Fifth Avenue headquarters of the Trump Organization.

The second batch of Trump Trade Marks we’re gazetted on the 6th March 2017 was issued about 24 more Trade Marks through the authority. Since my Chinese isn’t that fluent, I don’t know on what sort of products or what industrial trade mark these are put on. Still, this shows the ways of using the cheap workforce and possible export to the United States the Trump Organization does. When I could find in the documentation with address and in the name of the Trump or where the Trump Tower is.

Therefore, the will of putting ‘America First’ is only in the words and not in action of his own businesses or trading. That is just for the citizens, not for the business and corporate world. Since Trump Organization has by these gazetted Trade Marks initially started or secured production of 24 products in the Republic of China. That cannot be seen as policy of his own government, who wants to punish other businesses for importing instead of producing their products abroad.

Certainly, the sons and daughters don’t care about the impression or even President Trump shows careless acts of tact by doing this. They are not following the same protectionist ways that he preaches and he wants to achieve. Therefore, the double standard are proven with this and how easily the Trump Organization can get licences in China, but the President expect big-business to stay in the United States. Peace.

President-Elect Trump let’s his sons’ run the Trump Organization; still doubt that will clear their acts of impartiality; why because President-Elect Trump haven’t been transparent!

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This had to be an issue, as the Trump Organizations and businesses had to be obligated away from the Executive, the Commander-in-Chief as he ushers himself into the Presidency. The family seems to be picked to run his company, as they are already Executive Vice-President in the Cooperation, this being Eric Trump, Donald Trump Junior and Ivanka Trump. These have been behind their father, the President-Elect. This is important as the interest of Trump Organization should not be the sole purpose of the presidency, that should be as civil service and also guiding with good governance without having own personal gains by having the office. Therefore the nominees and the appointed government leaders in the Trump Organization has to go through not only sessions in the Senate before their appointments are getting accepted; as well as they have to give way to their business connection and positions in the boards in general.

That the international hotels and golf courses, the trademarked products in the portfolio of the Trump Organization that can implicate and create issues with both the foreign trade policies and also import regulations. The same can be seen in general with the regulation of banking, loans and all other fiscal regulation that can hurt the Trump Organization. Something Trump will already know before going to office, what he needs to create of legislation and what sort of economic stimulus or even economic framework that can absorb more profits on the business that are already owned by the Trump family.

Let’s take look at what a blind trust is and what sort of agreements that can happen when Trump gets into office in just days.

What is a Blind Trust?

Blind trusts are often used when a wealthy individual is elected to a political office where his investment holdings could potentially put him in a conflict of interest with a regulatory issue or other sensitive exercise of political power. In this context, there are some obvious issues with blind trusts in that the beneficiary setting up the blind trust is at least aware of the investment mix going in and cannot realistically forget that information when weighing future decisions. The trustors may also set the rules under which the investments are managed and, of course, pick trustees that they are confident will act in a certain way in potential situations. So again, the efficacy of the blind trust in truly eliminating conflict of interest is far from proven. That said, politicians with a large amount of wealth or in high office use blind trusts to show that at least the effort is being taken to establish impartiality” (Investopedia).

Director of Government Ethics Shaub on 11th January on Blind Trust:

“I think Politico called this a “half-blind” trust, but it’s not even halfway blind. The only thing this has in common with a blind trust is the label, “trust.” His sons are still running the businesses, and, of course, he knows what he owns. His own attorney said today that he can’t “un-know” that he owns Trump tower. The same is true of his other holdings. The idea of limiting direct communication about the business is wholly inadequate. That’s not how a blind trust works. There’s not supposed to be any information at all” (…) “Here too, his attorney said something important today. She said he’ll know about a deal if he reads it in the paper or sees in on TV. That wouldn’t happen with a blind trust. In addition, the notion that there won’t be new deals doesn’t solve the problem of all the existing deals and businesses. The enormous stack of documents on the stage when he spoke shows just how many deals and businesses there are” (…) “The President-elect’s attorney justified the decision not to use a blind trust by saying that you can’t put operating businesses in a blind trust. She’s right about that. That’s why the decision to set up this strange new kind of trust is so perplexing. The attorney also said she feared the public might question the legitimacy of the sale price if he divested his assets. I wish she had spoken with those of us in the government who do this for a living. We would have reassured her that Presidential nominees in every administration agree to sell illiquid assets all the time. Unlike the President, they have to run the gauntlet of a rigorous Senate confirmation process where the legitimacy of their divestiture plans can be closely scrutinized. These individuals get through the nomination process by carefully ensuring that the valuation of their companies is done according to accepted industry standards. There’s nothing unusual about that” (…) “Back when he was working for the Justice Department, the late Antonin Scalia also wrote an opinion declaring that a President should avoid engaging in conduct prohibited by the government’s ethics regulations, even if they don’t apply. Justice Scalia warned us that there would be consequences if a President ever failed to adhere to the same standards that apply to lower level officials. The sheer obviousness of Justice Scalia’s words becomes apparent if you just ask yourself one question: Should a President hold himself to a lower standard than his own appointees?”(Shaub, 2017).

His sons will run the Trump Organization:

“President-Elect Trump will relinquish management of his investment and business assets for the duration of his Presidency. To accomplish this, all of President-Elect Trump’s investment and business assets, commonly known as The Trump Organization—comprised of hundreds of entities—have been or will be conveyed to a Trust, which will be managed for the duration of his Presidency by his sons, Don and Eric, and a Trump executive, Allen Weisselberg. Collectively—and unanimously—Allen, Don, and Eric will have the authority to manage The Trump Organization and have full decision-making authority for the duration of the Presidency, without any involvement whatsoever by President-Elect Trump. To implement this transfer, President-Elect Trump will resign from all official positions he holds with The Trump Organization entities” (…) “the Trust Agreement prohibits The Trump Organization from entering into any new transaction or contract with a foreign country, agency, or instrumentality thereof, including a sovereign wealth fund, foreign government official, or member of a royal family, the United States government or any agency or instrumentality thereof, or any state or local government or any agency or instrumentality thereof, other than normal and customary arrangements already undertaken before the President-Elect’s election” (…) “President-Elect Trump is taking these extraordinary steps to ensure that the Office of the Presidency is isolated from The Trump Organization” (…) “the Constitution does not forbid fair-market-value transactions with foreign officials. To put to rest any concerns, however, the President-Elect is announcing he will donate all profits from foreign governments’ patronage of his hotels and similar businesses during his presidential term to the U.S. Treasury. Historically, when federal officers received a gift or emolument from a foreign state, they surrendered possession of it to the federal government, though they were permitted to retain amounts necessary to offset their business expenses. Although the Constitution does not require the PresidentElect to do the same for profits from his businesses’ fair-market-value transactions, he wants to eliminate any distractions by going beyond what the Constitution requires” (Morgan Lewis, 2017).

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That Trump Organization can be run by his family it is acceptable by looking at the trust, but the initial issues with the way it gets done and that he shall not be reported on the way of the trade or business, is hard to believe as the business and family is very connected, hence with the campaign where all of the older kids we’re taking part more or less. Therefore the Vice-Executives of the Trump Organization, his kids are now taking charge and taking his position in his company. That he owns and has controlled over decades. That needs to be clear that the family members cannot tell or say him company secrets as long as he is the Executive of the Republic. If they do than their doing illegal information and destabilizing the interests of the government, why is it so? That is so because the President is the head of the government and has to serve all the citizens, not just the ones that are working in his owned company. That is why the nominees for positions in the Trump Administration have to leave their boardrooms and their former businesses. This is done because they will not have other interests than serving the Republic, if not they should be back in the corporate office instead of being civil servants. If they serve Exxon or other businesses while they are serving as ministers or secretaries of departments, than they are opening up for corrupt and illegal trading from the top and stealing from the bottom. That is what we can worry about when we know how close the President is still connected with his businesses, without a clear line of procedure for how the transactions and creation of future business inside Trump Organization is not known.

The President-Elect have not delivered his IRS Tax Returns, neither proven his real value or what he owns, if it is in Missouri or Mississippi, because for all we know he could own a lobster-shack in Louisiana. Even than he should open the door so he could explain why he hasn’t been through the process of showing his true colours and trade. The real honest profits and the expenditure of his companies, the facts of his royalties and the tax rate on his businesses as well. There are many open questions as to where he does business, what sort of people are he connected with abroad and what sort of agreements does the Trump Organization have and own outside of the United States. If he has a dungeon in St. Petersburg or has a palace in India, we don’t really know, but if he was accountable or transparent. Then we could know what sort of conflicts and interests the President-Elect have. This is the missing picture in a flawed Presidential-Elect who doesn’t’ trust anybody, but himself.

Why does I say that is because he cannot be transparent with his own and therefore why would he be that with the public coffers? Are the public coffers safe when we have no idea about how he used his own private funds? Will the public coffers be used to function and give contracts to businesses close to him or to cronyism in the new Trump Administration? Peace.

Reference:

Investopeida – ‘Blind Trust’ link: http://www.investopedia.com/terms/b/blindtrust.asp

Remarks of Walter M. Shaub, Jr., Director, U.S. Office of Government Ethics, as prepared for delivery at 4:00 p.m. on January 11, 2017, at the Brookings Institution (11.01.2017)

Morgan Lewis – ‘WHITE PAPER Conflicts of Interest and the President Background for President-Elect Trump’s January 11, 2017 Press Conference Prepared by Morgan, Lewis & Bockius LLP’ (11.01.2017)

The nominations of Mnuschin and Ross proves that Donald Trump is not ‘draining the swamp’!

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The Economic Policies of any United States administration are usually bound by the people that are running two key positions; these are Secretary of Treasury and Secretary of Commerce. The Economy is bound by the decisions these ones do. This here will prove what kind of administration that Trump will run and what kind of regulations of trade, business and economy in general. Therefore the picking of personnel is central to how the state of affairs at the top of the food-chain in Washington.

Donald Trump the Presidential-Elect that has been all and mighty on draining the swamp. So he proves that it was just words during the campaign to sell to his supporters, he even pledged this earlier in the year:

“We have to give new voices a chance … so we can have a government that works again and can function properly …” Trump said” (Hughes, 2016).

Draining the Swamp:

“There is another major announcement I am going to make today as part of our pledge to drain the swamp in Washington. If I am elected President, I will push for a Constitutional Amendment to impose term limits on all members of Congress” (…) “Decades of failure in Washington, and decades of special interest dealing, must come to an end. We have to break the cycle of corruption, and we have to give new voices a chance to go into government service. The time for Congressional term limits has arrived” (…) “Not only will we end our government corruption, but we will end the economic stagnation” (Trump, 2016).

We will first see what the Treasury are supposed to do and what the department will do:

“Treasury’s mission highlights its role as the steward of U.S. economic and financial systems, and as an influential participant in the world economy” (Treasury.gov – ‘About – Role of Treasury’). So the Secretary of Treasury is important for the financial system, therefore it’s important to look at the nominee. So we have to look into the nominee who has influence of the financial systems.

Also, we have to see what is special about the Department of Commerce: “The Department works with businesses, universities, communities, and the Nation’s workers to promote job creation, economic growth, sustainable development, and improved standards of living for Americans. Through its 12 bureaus and nearly 47,000 employees located in all 50 states and five U.S. territories and more than 86 countries worldwide, the Department administers critical programs that touch the lives of every American” (Commerce.gov – ‘About Commerce’). So we can see the importance of the person leading these 12 bureaus that should make it possible to create jobs and commercial business in the United States, therefore the person leading here has to know how to improve the economic growth.

With this knowledge the persons acts before and their economic framework together with the economic platform; that means their faith in the markets or the regulations. That he will give way to free regulations for the financial markets instead of regulating them.

steven-mnuchin

Steve Mnuchin is the nominee for Secretary of Treasury:

Mnuchin worked at Goldman Sachs for seventeen years, where he eventually became an executive vice president. According to the Wall Street Journal, he left in 2002 “at the age of 39 with a reported $46 million stake in the bank.” He was recruited by his Yale roommate, Eddie Lampert, to join ESL, a hedge fund, as vice chairman. A few months later, he jumped to SFM Capital Management as its CEO. But within a few months he changed jobs again, leaving SFM to co-found Dune Capital with his former Goldman colleagues Daniel Neidich and Chip Seelig” (…) “In 2009, Mnuchin helped assemble a group of investors (including computer capitalist Michael Dell, financier George Soros, private equity investor Christopher Flowers, and hedge fund titan John Paulson) to buy IndyMac Bank from the Federal Deposit Insurance Corporation (FDIC) as part of a sweetheart deal. They renamed it OneWest Bank and kept its headquarters in Pasadena” (Dreier, 2016).

Relativity bankrupt:

Relativity explicitly blames the bank, founded by Steve Mnuchin, who until recently was one of studio founder Ryan Kavanaugh’s best friends and a company director, for violating bankruptcy procedures and for delaying the release of a movie recently considered to be the studio’s savior, a letter and an email from the company obtained by The Post reveal” (…) “ OneWest’s hoovering up of the $50 million, revealed in court papers, included $32 million drained from the studio’s library and $17.9 million from two other accounts” (…) “The bank’s actions placed Relativity in a precarious financial state, forcing it to largely “stop paying many vendor bills, to postpone production of certain film projects and to postpone the release of certain completed films,” Blackstone’s Tim Coleman, Relativity’s financial adviser, said in court papers” (McCaulay, 2016)

Foreclosure from OneWest:  

“According to Gudiel, when she tried to make the $2,500-a-month mortgage payment two weeks late in November 2009, OneWest refused the payment and instructed her to pursue a loan modification, a long process that ultimately ended in rejection in January” (…) “OneWest referred questions to the public relations firm Sard Verbinnen & Co., which said that Fannie Mae, which holds about one-third of the mortgages in the country, had not authorized them to modify the loan” (… ) “OneWest is pleased that it has been able to work with Fannie Mae, the owner of the loan, to authorize it to offer the Gudiels a loan modification that would allow the family to stay in their home,” the firm said in a statement” (Huus, 2011).

Fraud from his bank:

While the Rigalis were negotiating on the mortgage modifications, IndyMac Federal Bank failed in what would be the fourth-largest bank failure in U.S. history. What was left of IndyMac was acquired in March 2009 by a Mnuchin-led group of private investors for $1.55 billion” (…) “The Rigalis’ court filings “alleged they were led to believe, by representatives of several banks over a period of years, that their $560,000 loan would be modified. They believed they had entered into several forbearance agreements with several but related banks.” (…) “Crandall wrote in his denial of the motion that “the facts before the court are sufficient to defeat summary judgment” of most of OneWest Bank’s assertions, and he concluded that the Rigalis produced enough proven evidence to show that they could prevail in a jury trial. OneWest quickly offered a settlement, sources said” (…) “Recent legislative measures “provide an important lens” for the court to look through, wrote Crandall in denying OneWest’s motion” (…) “The judge was referring to the banking practice of dual tracking, in which a borrower in default seeks a modification while the institution continues at the same time to pursue foreclosure. By the time the borrower learns what is happening, it is usually too late to prevent the foreclosure” (Blackburn, 2013).

Just as he has become the nominee certain board positions he had to give up:

“NEW YORK–(BUSINESS WIRE)–CIT Group Inc. (NYSE:CIT), cit.com, a leading provider of commercial lending and leasing services, today announced that Steven T. Mnuchin has resigned from its Board of Directors, effective immediately. His resignation follows President-elect Donald J. Trump’s announced intention to nominate Mnuchin as the next Secretary of the Treasury” (…) “On behalf of the entire Board, I want to thank Steven for his contributions to CIT,” said Ellen R. Alemany, Chairwoman and CEO. “Steven has been a valued member of our Board, and we wish him well in this monumental role.” (CIT.com, 2016). He also stepped down from being a board-member at Sears.

So the OneWest CEO Steve Mnuchin is becoming the Secretary of Treasury in the Trump Administration. He been a board-member in CIT and Sears, as well as been speculative in foreclosures in people’s homes as well as Relativity studio or Film Company became bankrupt because of the loans and structure of funding through OneWest. So this speculative actions can be assured of will happen, but not with just one hedge-fund Wall-Street banker bravado, but now with the economic policies as underlining from the newly nominated Munuchin.

Than we have the other nominee that will lead 12 important bureaus that is now being delegated through the financial heavy weight Ross; which also have long history on Wall Street.

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Wilbur Ross is the nominee for Secretary of Commerce:  

Wilbur is another fellow with a spreadsheet that is impressive, but also sees the cynical side of the economy, where the importance of business is profits; not actually creating work. Therefore his nomination is more about securing equity is the reality than the person who actually earns those fortunes. Therefore the way he salvaged the businesses and made profits on them, as well as the reality of the man behind those transactions and how many settlements for fraudulent acts from his companies and subsidiaries. Here is a little look!

Wilbur Ross is best known for his ability to find distressed companies and turn them around for a large profit – it is a talent that has given him an estimated net worth of more than $2 billion. And in recent years Ross’s sights have been firmly set on financial companies. Since 2008 he has invested a reported $1.8 billion into banks.  But now he has had enough. NBNK Investments, the investment company in which Ross took a 30% stake in 2013 and that tried and failed to buy TSB from Lloyds, is closing. In 2010 NBNK had raised £50 million in an IPO with the aim of financing European banks. Six years later, it didn’t have a single investment to show for it” (Avery, 2016).

WL Ross & Co. LLC, a Delaware limited liability company, is a private equity firm that was founded in 2000. WL Ross registered as an investment adviser with the Commission in April 2007. WL Ross is headquartered in New York, New York. Since 2006, WL Ross has been wholly owned by Invesco Private Capital, Inc., a subsidiary of Invesco Ltd., a publicly traded company (collectively, “Invesco”). WL Ross provides investment advisory services to the WLR Funds and other private equity funds, as well as to separately managed accounts and co-investment vehicles. According to its most recent Form ADV filing as of April 21, 2016, WL Ross has approximately $4.6 billion in assets under management” (Service Exchange Commission, 2016).

“Between 2001 and 2011, WL Ross adopted a Transaction Fee allocation methodology that resulted in WLR retaining a significant amount of those fees for itself rather than allocating them to the WLR Funds for the purpose of offsetting the management fee. Specifically, WL Ross allocated Transaction Fees that it earned from portfolio investments to the WLR Funds based upon their relative ownership percentages of the portfolio company without disclosing this practice. As a result, WL Ross retained for itself that portion of the Transaction Fees that was based upon co-investors’ relative ownership of the portfolio company, without subjecting such fees to any management fee offsets. WLR did not disclose to the WLR Funds and to the Funds’ limited partners that it would allocate Transaction Fees according to the above allocation methodology, and that WLR construed the ambiguous provisions in the relevant LPAs in its own favor rather than the WLR Funds’ favor. If WL Ross had instead adopted a methodology requiring the allocation of all Transaction Fees pro rata among the investing WLR Funds (and other WLR funds that also had offset provisions) and offset the WLR Funds’ management fees accordingly, the WLR Funds (and other WLR funds that also had offset provisions) would have received the benefit of all Transaction Fees received by WL Ross. WL Ross received approximately $10.4 million more in management fees using the selected methodology than if it had allocated Transaction Fees pro rata among the WLR Funds for management fee offset purposes during the relevant time period” (Security Exchange Commission, 2016).

Earning money on failing business:

“In May the board of NBNK, made up of private equity firm WL Ross & Co’s senior vice president Stephen Johnson, and Labour life peer and barrister Lord Brennan, voted in May to make the payment to WL Ross & Co for the “recovery of legal fees and other due diligence costs.” (…) “The vehicle’s most recent accounts revealed a loss for the year of £271,000, from a loss of £182,000 the previous year” (Bambrough, 2016).

“Billionaire investor Wilbur Ross has reached a deal to buy Nexeo Solutions Holdings LLC, a distributor of plastic resins and chemicals, for roughly $1.6 billion, including debt” (…) “Nexeo is currently owned by private-equity firm TPG, which purchased the company for nearly $1 billion from U.S. specialty-chemicals producer Ashland Inc (NYSE: ASH) in 2011. The deal is expected to be announced on Monday morning” (…) “WL Ross Holding will pay $500 million in cash and fund the rest of the purchase with debt, the sources told the newspaper. TPG will roll over some of its equity into the new public company, one of the people told the Journal” (DiSavino, 2016).

“The Securities and Exchange Commission said on Wednesday that the group failed to disclose its fee allocation practices, resulting in investors overpaying by $10.4m between 2001 and 2011. WL Ross was not allocating transaction fees to the funds to offset management fees, the SEC said” (…) “WL Ross also agreed to pay a civil penalty of $2.3m, but neither admitted to nor denied the SEC’s findings” (…) “We are pleased to have arrived at a resolution around historical management fee disclosure in a subset of our funds,” said Jeaneen Terrio, a spokesperson for Invesco, which bought WL Ross in 2006. “This resolution reflects a proactive approach to handling the matter and our commitment to exceeding the expectations of today’s private equity market.” (Sampson, 2016).

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Fixing Irish Economy:

As an investor in Bank of Ireland, it would be a surprise if Ross thought otherwise – after all he needs to recoup his investment and more. But he is one of the world’s most successful turnaround financiers – his involvement in the turnaround of over $200bn of distressed assets worldwide has earned him the nickname ‘king of bankruptcy’. So his words will be a boost to Ireland’s international standing” (…) “In the past few weeks of financial turmoil, Ireland has seen some faith in the international money markets restored, with 10-year bond yields down from 14% in mid-July to around 9%.” (O’Carroll, 2011).

So Donald Trump’s way of cleaning up the swamp is giving the idiom or a myth, because Wall Street connections with Washington D.C. cartels were not supposed to happen under the presidency. With the knowledge of the men he has picked in charge of the Economy, this proves that it was never a part of plan. If so Trump has a rare way of sending of the message with hiring and nominating Steven Mnuchin and Wilbur Ross.

These men have worked up fortunes and earned monies on the destruction of the American Dream. They have taken people’s hard-earned monies and created profits overnight. These men have used sophisticated limited liabilities companies, hedge-funds and transactions to earn monies on failed houses and companies. With ease the men and woman could be stifled even the government banks Fannie Mae and Freddie Mac and the foreclosed homes has even been a bargain. These men are supposed to create industry and the regulations for the finance industry. Together with the creations of consolidation funds and the roll-over money from the government; so that the debt could be staying longer as Mnuchin believes even can be put into 100 year bonds. That could create an unknown inflation of funds and also of the regulations of the combined currency in the market. Something that Wall Street people sees it as an opportunity.

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Donald Trump has seeking to revamp the economy with men who are connected with the biggest investors of our time, with the families and using all kind of tricks to earn coins for themselves. Even the SEC has fined the companies of Mr. Ross for misbehaving with funds and with commissions, these men that has used ways of loop-holing the finance industry; the finance industry they now will steer. This can only be for the freedom of the giant companies and the wealth they have created in the market place on other people’s misery.

Trump has picked and nominated men who’s greed extend nearly no boundaries, these men will not drain a swamp or even follow up the promises on the campaign. They will continue and less regulates the economy. That might bring back the recession or even depression as the richer get wealthier and the poor will not become the middle-class.

These men has surely will secure the class there are set in and want to be part of. The one that they have been parts of and will secure the future of. These are not working-class friendly men who connect with the Indiana, Minnesota and Mississippi. So Trump clearly only a one-man show for the façade and not the real deal, sort of like a government acting on the Trump University philosophy: “You’re selling a feeling, not a product” and the same does the Trump Organization and now the Trump Administration.

The lie this time is the draining the swamp, the corporate parts of Washington D.C. politics and elites, as Trump chooses the same or even more wealthier businessmen who has more connections inside Wall Street and has more conflict of interest than before. The Trump Administration in the White House will be filled with men who have their business at heart and not the citizens who voted for him. Peace.

Reference:

Avery, Helen – ‘Banking: Wilbur Ross chases shadows’ (May 2016) Link: http://www.euromoney.com/Article/3551137/Banking-Wilbur-Ross-chases-shadows.html?copyrightInfo=true

Bambrough, Billy – ‘US billionaire investor Wilbur Ross picks up £280,000 from the ashes of NBNK’ (04.07. 2016) link: http://www.cityam.com/244546/us-billionaire-investor-wilbur-ross-picks-up–ashes

Blackburn, Daniel – ‘OneWest Bank pays 7 figures in mortgage fraud case’ (11.09.2013) link: https://calcoastnews.com/2013/09/onewest-bank-pays-7-figures-mortgage-fraud-case/

CIT.com – ‘CIT Announces Resignation of Steven T. Mnuchin from Board of Directors’ (02.12.2016) link: http://news.cit.com/press-release/corporate-news/cit-announces-resignation-steven-t-mnuchin-board-directors

Dreier, Peter – ‘The Worst of Wall Street: Meet Donald Trump’s Finance Chairman’ (10.05.2016) link: https://www.thenation.com/article/the-worst-of-wall-street-meet-donald-trumps-finance-chairman/

DiSavino, Scott – ‘Wilbur Ross to buy Nexeo from TPG for $1.6 billion: source’ (20.03.2016) link: http://www.streetinsider.com/Mergers+and+Acquisitions/Wilbur+Ross+to+buy+Nexeo+from+TPG+for+$1.6+billion%3A+source/11434492.html

McCaulay, Scott – ‘Controversial Film Financier Steven Mnuchin Joins Trump Campaign as National Finance Chairman’ (05.05.2016) link: https://filmmakermagazine.com/98428-controversial-film-financier-steven-mnuchin-joins-trump-campaign-as-national-finance-chairman/

Hughes, Trevor – ‘Trump calls to ‘drain the swamp’ of Washington’ (18.10.2016) link: http://www.usatoday.com/story/news/politics/elections/2016/2016/10/18/donald-trump-rally-colorado-springs-ethics-lobbying-limitations/92377656/

Huus, Kari – ‘Homeowner taps ‘Occupy’ protest to avoid foreclosure’ (17.10.2011) link: http://www.nbcnews.com/id/44908122/ns/us_news-life/t/homeowner-taps-occupy-protest-avoid-foreclosure/#.WEHO5fnhDIU

O’Carroll, Lisa – ‘Ireland will be ‘Celtic Tiger’ again – Wilbur Ross’ (31.08.2011) link: https://www.theguardian.com/business/ireland-business-blog-with-lisa-ocarroll/2011/aug/31/ireland

Samson, Adam – ‘WL Ross in $14.1m settlement with US over fee disclosures’ (24.08.2016) link: https://www.ft.com/content/e8424f8f-5031-3d50-941b-a51ccaa07980

Security Exchange Commission – ‘Release No. 4494 / August 24, 2016 ADMINISTRATIVE PROCEEDING File No. 3-17491’ (24.08.2016)

Trump, Donald J. – ‘TRUMP PLEDGES TO DRAIN THE SWAMP AND IMPOSE CONGRESSIONAL TERM LIMITS’ (18.10.2016) link: https://www.donaldjtrump.com/press-releases/trump-pledges-to-drain-the-swamp

Opinion: The American people now have to live on the philosophy of Slim Charles; Actually fight for the lies of Trump!

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Slim Charles: “Don’t matter who did what to who at this point. Fact is, we went to war and now there ain’t no goin’ back. I mean, shit, it’s what war is, you know? Once you in it, you in it. If it’s a lie, then we fight on that lie. But we gotta fight” (The Wire, Season 3 Episode 12 – “Misson Accomplished”, 09.12.2004).

Why do I start off with Slim Charles as he is talking about fighting a war over corners with Marlo Stanfield in Baltimore and Avon Barkesdal lost his companion and comrade Stringer Bell after he was ratted out… but what I will talk about isn’t the Wire, but it has been the same way with the Campaign and Phenomenon of Donald J. Trump.

Today, I made realisation while taking public transport to work. I thought to myself what has been the main component of Trump’s game-plan. It seems to show as little as possible of policy, as little as possible of political framework and being part of the establishment. But also transparency and accountability has been like aids to the Candidacy of the Republican Candidate Trump.

Another key part of the accountability and transparency is that he has constantly lied. The lies has been staggering and at massive levels. Like the ice that hit the Titanic, it should have sunk the ship of an ordinary campaign, but the American couldn’t care less. Trump lied about his past, his wealth, his education, his lifestyle, his previous ethical background.

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He has lied to public about his wealth, he is not as rich as he claims; if he we’re so he would have given the public the IRS Tax Returns. Because there we would see the real value of the Trump Organization, the golf-courses and the value of ‘the Art of the Deal’; because the toilet paper of stated wealth and ownership is oversaturated. If it we’re the true deal and not a play of cards to the public, since if it we’re true value than it would been given the same value of the estates, businesses and royalties. First lie!

Second lie, must be the portrayal of success in general; is with the bankruptcies in Casinos’ in Atlantic City, Trump Institute and University, Trump Steaks, Trump Vodka, Trump Magazines, Trump Airlines and so on. The success now has been “the Apprentice” on the Television with a dozen of seasons. The rest he has earned money on is stifling his costumers and with dozens of law-suits. Other than because of shady reputation because of that the way of earning revenue hasn’t become of building houses or high-raises, instead it has become a licensing operation. So his name is what makes the money, not his achievements. People are buying into the Trump name, but not the real value of premium products or quality service.

So when he is not as rich as he says he is, another lie; then you have the business-savvy point that settles with a licensing operation and not a true, yet another lie.

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That is the most important parts of his project, as he was a successful businessman who wasn’t a politician. Well, he is more flip-flopping politician and also a cruel one at that. The Political play has been to use the others past against them. Since he wasn’t really a politician; still the Trump has lied about Ted Cruz, John Kasich, and Jeb Bush.

The other lies are is stances, at one point in life he was a very aligned with the Democratic Party, siding with Bill and Hillary Clinton, defending his infidelity and claiming that Hillary was a fine woman. At one point he was defending and saying that the U.S. should go quickly in to Libya and get rid of Col. Gadhafi. Another point where he defended George W. Bush and his father for their wars in Iraq; while on the Campaign Trial he has dined all of this asked for the tapes, asked for the evidence, but the clips are accessible and online for anybody who wants. His Video-Logs are there too, where he speaks of the similar matters too.

The lies are endless, and his image is a lie, his persona and his attitude to. Because he change as needed be, he is said to have a moral flexibility. Well, he has been structured on hatred for immigrants and for foreign interference, he is an isolationist. That is it! The rest hasn’t been steady, on basic minimum wage his stance has changed, on deportation force it has change and the stances are endless.

The worst part is that American Electorate apparently didn’t care, or not enough of them. They have bought into a cobb-web of lies and deceit. They ate it all up and bought into the sellers tale.

I wouldn’t believe the words that come out of his mouth, he only says what he need to say or told to say. He talks against the usage of Teleprompters, but used it freely when it benefitted him. He claimed Mitt Romney released his tax-returns too late, but till this date he hasn’t dropped his and I doubt he will. So his states and statement are pointless, are just needed for his own stature, but not for his character.

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The Character of him only known by his close family and whatever friends he has; to rest of us it is lies upon lies. Deception of who he might be and what he stand for, except for his blatant racists spurges of vomit. Trump has been able to sit in golden chairs and licence out products with golden letters, but his true delivery is his lies. The lie that he is good and want to “Make America Great Again”. He wants to make himself great again, back in the day when he was great and built the Trump Tower with the help of the Mafia. He doesn’t care about the working-class in Wisconsin or Mississippi.

Trump lies and will continue to lie for the benefit of himself and his cause; the cause being himself and his fictions lifestyle. Therefore he wants to spend more time at Mar-A-Lago in Miami, Penthouse in New York, than at the White House. Because he want his loyal minions to work out the perks, while he carry the title. He doesn’t care about anybody else than himself, he wants to spend time on the golf-course and eat the benefits of the Public Office. Not actually work for living, he has lied for living already and wants to relax as President.

Just wait and see, he will spend less time in office than Bill Clinton and George W. Bush, he is more concern about the benefits of being President for his donors, rich wealthy elite; which happens to be the establishment and not the common-man in Michigan or North Dakota.

The man that based his life on lies and built his current business on more lies; the lies that are deceptive and deconstructive to him and to society; that now is the true state of affairs. Trump has the choice either to destroy or rebuild.

But he went to war on that lie like Slim Charles said and now they have to continue to fight on that lie. The lie that Trump had something to deliver other than his own self-constructed bloated ego. Peace.  

The Trump Tower: Some of Trump’s ethical conundrums concerning tax on his “flag-ship” enterprise!

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This is just another day, another dig into the mess of a business-man, the so-called billionaire Donald J. Trump and his Trump Organization; with the dozens of companies and unsettled taxes and regulated operations that can be scrutinized at any second and certainly most of his businesses has been taken to court of maladministration, tax-fraud, tax-aviation or not-paying dues to contractors or sub-contractors. There been reports 1000s of court cases under the Trump Organizations. What is so special with this here, is the way the stifling conduct been done the Trump Tower, the big skyscraper, the one thing he might eventually actually able to pull off. The one giant footprint on the Manhattan Skyline; the dream of the Bronx kid that came into life; and now is there!

It is this Tower and the shady tax story of his favourite building, the building that first carried his name and his so-called fortune. The glory of the Trumps and their enterprises as the epitome of the marble and gold; the one place that settled his rise to build a so-called empire! It is these stakes and these enormous steps to either brilliance or doom that the stories show from the Trump Tower.

Donald Trump, wouldn’t like this piece, not because their my words, but because the harshness of the old documents showing his ruthless misbehaving and not conducting fair business in the Trump Tower and towards the tax-man of his beloved New York. So here it is. Some might be forgotten, and some is still fresh. Here is my take!

About the Condominium:

The Trump-Equitable Fifth Avenue Company was formed, an equal partnership. Equitable put in the fee. Mr. Trump contributed the lease, two small units he acquired on East 57th Street, and the air rights to Tiffany’s on the corner, which he needed for a zoning change to build a high-rise apartment house. The Trump Organization is sales and managing agent for the building, and Mr. Trump was able to put the family name over the four-story portal in colossal bronze letters – and two giant bronze Ts in the atrium” (…) “Chase Manhattan financed his $24 million purchases of the various leases and rights, and the bank also formed a syndicate for the $150 million construction loan” (…) “Anticipated condominium revenues of $260 million (85 percent of the 263 apartments have been sold) have effectively paid off the construction loan, leaving Trump Tower unencumbered by mortgages. The partnership retains ownership of the retail space and the 13 floors of office space, not yet rented, that are sandwiched in between. This commercial portion of the building is projected to yield rentals of $28 million a year” (…) “Mr. Trump expected that Trump Tower would qualify for a residential tax abatement. But after construction started, the city denied the exemption, estimated to be worth $15 million to $20 million, claiming it was intended to encourage low- and middle-income housing – not the deluxe apartments of the Tower. The city is now appealing a State Supreme Court ruling in Mr. Trump’s favor last June” (Bender, 1983).

As we see the Trump big man dream of 1980s and the braggadocios building came to life on loans from Chase Manhattan and leases not even built on Trumps own monies. Therefore it was an investment in the trusts of others capital something he would continue to do as business in the future with less intelligence and less of ability to land with a great deal. As shown in other pieces. Still, the result of Trump Tower was not as anticipated as the value of the floors and the denied exemption makes it more expensive to rent and have stores in the Trump Tower. Something that was a loss for the millionaire… and also promises not kept to the state of New York.

Supreme Court on the Tax-Exemption on the Condominium:

“During the pendency of the court challenges to the City’s denial of section 421-a tax benefits, petitioner paid the City’s tax assessments under protest. After the Court of Appeals ruled petitioner was entitled to receive section 421-a tax benefits, the City gave petitioner a refund check in March 1986 and then issued a set of remission letters in April 1986 concerning the payment of certain refunds for the overpayment of tax assessments for the 1981-82 through 1983-84 tax years. The refund, however, was based on an application of section 421-a tax exemption benefits to that portion of Trump Tower which consisted of residential units calculated to be 64.6% of the building’s aggregate floor area. Petitioner maintains the correct amount of residential units is 66.31% of aggregate floor area” (…) “The City contends that the July 1988 remission letters properly distributed the 12% exemption for commercial space allowed by RPTL 421-a among all units in the building and properly charged the remaining liability for excess nonexempt commercial space to the commercial unit alone” (…) “Judge Simons concluded that the Legislature intended all properties, regardless of the type of ownership, to receive the benefit of the exemption and that “the exemption is to be applied to the building as a whole, to the extent permitted, and not to parts of it” (supra, at 345). Moreover, the court went on to state that: “In the case of condominium units that means that the mini tax assessment must be applied to the entire building and the assessment then apportioned on a unit-by-unit basis as required by Real Property Law § 339-y. The failure to do so effectively excises from the statute buildings held in condominium ownership and applies the exemption differently depending on the type of ownership” (supra, at 345)” (…) “Order and judgment (one paper), Supreme Court, New York County, entered on September 7, 1989, unanimously modified, on the law, to the extent of striking the City’s computation concerning the floor ratio between the residential and commercial condominium units of Trump Tower, recalculating the proportionate tax benefits and tax liabilities among the units, declaring petitioner entitled to interest on additional refunds computed from the date of payment and modifying the last decretal paragraph to direct the payment of interest on said additional refunds pursuant to General Municipal Law § 3-a, and otherwise affirmed, without costs and without disbursements” (Supreme Court of New York, 1990).

As of the court date years on end as the proof of it after and the show of dubious numbers and changing facts from the Trump Organization towards the tax-man. This is proven with the different numbers for the 421- in building towards the business end of the operation in the towers, that we’re differing from the applications that we’re accepted by the great state of New York. So the Trump violated the trust between him as a builder and the state that let him build and gave him favourable tax to get investors investing in his project and skyscraper. This proves the malicious and dubious businessman in the making, when he does it even on his flag-ship enterprise in Manhattan. Take a look at the continuation of it!

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Tax Case on the Condominium 1996:

Equitable Life Assurance Society of the United States(“Equitable”) and Petitioner (collectively referred to as the “Venturers”) entered in a joint venture agreement, dated January30, 1980 (the “Venture Agreement”) to form the Trump-Equitable Fifth Avenue Company (the “Venture”) to develop a luxury mixed-use building located at 721-725 Fifth Avenue (“Trump Tower”). The purpose of the Venture was to: (a) acquire title to certain land and existing buildings; (b) demolish the existing buildings; (c) construct a new building — Trump Tower — to be owned in condominium form; (d) sell residential condominium units therein; and (e) lease office retail and other commercial condominium space therein. Venture Agreement section” (…) “The only witness to testify on behalf of Petitioner as to what his activities were with respect to the Venture was his representative and accountant, Jack Mitnick” (…) “Mr. Mitnick testified that Petitioner was compensated for the following services that he performed for the Venture: (a) the demolition of the preexisting buildings; (b) the construction of Trump Tower; (c) the promotion and sale of condominium units in Trump Tower; (d) the rental of commercial condominium units; and(e) the selling of residential condominium units” (…) “Mr. Mitnick also testified that the “Trump Corporation” performed sales and advertising services under the Development, Sales and Leasing Agreement and reported the resulting income in a City General Corporation Tax return according to Mr. Mitnick’s testimony, the Venture paid a “development fee” directly to Petitioner in his individual capacity which Petitioner reported as “[personal] income” and which was[also] “reported [on the Venture’s UBT return] as compensation of a partner. . .;” i.e., which was not deducted on the Venture’s UBT return” (…) “On March 31, 1984, nineteen days after he exercised the Option, Petitioner sold the Condominium for $3,000,000” (…) “On the Schedule D attached to Petitioner’s Federal income tax return for the Tax Year, Petitioner reported a $2,365,352 capital gain from the sale of the Condominium (the “Gain”). The sale of the Condominium was the only direct sale of real property during the Tax Year by Petitioner that was evinced in the record. The record indicates that much of Petitioner’s other real estate activities were conducted through related entities, particularly corporations” (…) “Petitioner filed a City UBT return for the Tax Year (the “Return”) in which he reported his principal business activity as “consulting.” The Return reported negative taxable business income of $619,227. Schedule C of Petitioner’s Federal personal income tax return (Form 1040), upon which the Return was based, indicates that Petitioner had total deductions of $626,264, even though he had no income or receipts from his business activity” (…) “By transmittal letter dated July 24, 1992 (which mistakenly lists the year as 1994 instead of 1992), another of the Commissioner’s representatives produced the original Return –which did not have an Extension Request attached to it – and requested that it be entered into evidence. No request was ever made to extend the June 18, 1992 date set at the hearing for the production of the original Return and the close of the record” (…) “CONCLUSIONS OF LAW:” (…) “However, the problem at issue is not one of double taxation, but of no taxation. Because the Condominium was sold by Petitioner and not the Venture, the Gain cannot be taxed to the Venture. Therefore, if Petitioner is correct that he is not taxable on the Gain, the income realized from highly appreciated inventory property extracted from the Venture only days before its sale would escape all taxation under the UBT” (…) “Petitioner admits, on of his supplemental reply brief, that: “Trump provided management services to the Partnership [Venture].” Petitioner’s accountant testified that Petitioner received payments for development services provided to the Venture which he took into income for personal income tax purposes. By virtue of the pro-vision of such services to the Venture, Petitioner is found to have been engaged in a taxable trade or business for UBT purposes” (…) “Respondent asserts that because Petitioner and Equitable each owned the same interest in the partnership [the Venture]” and Petitioner received more Options than Equitable, the Option was granted in exchange for services. This conclusion is questionable. The provision in the Venture Agreement which indicates that there was to be an equal profit split, expressly states that it is subject to other provisions in that agreement — such as the provision granting the Excess “Options. Thus, effectively, the Venture Agreement grants each Venturer a 50% profits interest in those Condominiums not subject to the Options and a 100% profits interest in those Condominiums as to which that Venturer held an option” (…) “Respondent submitted the original Return after the date set in the stipulation without any explanation why the stipulation – the agreement his representative entered into — should not been forced. Parties must be bound by the representations that they make to this forum absent a compelling reason to the contrary. As no such compelling reason was provided, the stipulation will been forced. Respondent is therefore deemed to have waived the late filing penalty” (…) “As Petitioner held and exercised the Option as part of his unincorporated trade or business, the Gain was connected with that trade or business and is subject to the UBT” (…) “The Petition of Donald Trump is denied except to the extent that the deficiency asserted in the Notice of Determination, dated November 18, 1987, is to be modified to eliminate the 25% late filing penalty” (New York Tax Appeal Court, 1996).

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Just as a decade has gone, but the Donald Trump didn’t give and wouldn’t give into the tax-man of New York State, even after the Supreme Court of New York judged in favor of a new tax-plan for the Trump Tower. This proves how he used business associates and fellow businessman to vouch for him and not take the blame as the Mr. Mitnick we’re in charge of selling a condominium at the Tower, but didn’t register the sale as the Corporation was not yet filed in the State. Therefore tried to circumvent the laws and get away with paying tax for the gain and the profits stemmed from sales of property at the Tower. This is another case than the initial Tax-Exemption that Trump tried to keep, even as he didn’t keep his promise of space of commercial versus housing in the tower and therefore we’re viable for more tax on the property.

The same kind of trick done here just years as he tries to avoid paying tax on selling property in the tower and also filling the form late therefore getting a 25% tax penalty on the case. That he also wanted to be axed. Also the use of different years in the filing trying to cover up the bogus attempt of not paying tax on the $3m sale of property where he earned about $2.4m directly as the deductions we’re about $600k shows the level of carelessness and trying to directly avoid any sort taxation by state. Trump Organization we’re interested in the sale, but not properly filling in the taxes or the previous owner as the direct sale without a entity we’re used to seal the away instead of getting direct tax of profits.

The Copy of the 1994 tried to fill in the profits, instead of 1992, therefore the New York Commissionaire had during trial come with an original Tax Return to show the real numbers of the transaction and the gain of the individual Trump, who we’re to be taxed for the sale of the Condominium, which he diligently tried to not to pay.

That is enough for now. Has more on his taxes later. This man is just too dishonest. It is so strange that the GOP accepted the man as their candidate for President. Peace.  

Reference:

Bender, Marylin – ‘THE EMPIRE AND EGO OF DONALD TRUMP’ (07.08.1983) link: http://www.nytimes.com/1983/08/07/business/the-empire-and-ego-of-donald-trump.html?pagewanted=all

New York City Tax Appeals Tribunal – ‘DONALD TRUMP – DETERMINATION – 10/11/96In the Matter for DONALD TRUMPTAT(H) 93-216(UB) – DETERMINATION’ (10.11.1996).

Supreme Court of New York – ‘TRUMP-EQUITABLE FIFTH AVENUE COMPANY, RESPONDENT-APPELLANT, v. CITY OF NEW YORK ET AL., APPELLANTS-RESPONDENTS’ (26.07.1990) link: http://ny.findacase.com/research/wfrmDocViewer.aspx/xq/fac.19900726_0049356.NY.htm/qx

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