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(Time)   One of those headlines requiring no change for Fark headline: Trump's debt is a national security threat   (time.com) divider line
    More: Obvious, Central Intelligence Agency, Debt, Defense Intelligence Agency, George W. Bush, President of the United States, United States Department of Defense, Federal government of the United States, President Donald Trump  
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839 clicks; posted to Politics » on 29 Sep 2020 at 9:53 PM (3 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



22 Comments     (+0 »)
 
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2020-09-29 5:39:24 PM  
And has been since he was nominated in '16.
 
2020-09-29 7:41:57 PM  
So is his hair!

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2020-09-29 9:11:21 PM  
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2020-09-29 9:57:31 PM  
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2020-09-29 10:02:53 PM  
Duuuuuuuuuuuuuuuuuuuuuuuuuuuuhhhhhhhhh​hhhh.

Just for that he shouldnt be allowed to be president/allowed to run again.
 
2020-09-29 10:05:49 PM  
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2020-09-29 10:07:35 PM  
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2020-09-29 10:09:31 PM  
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There, that's more like it.
 
2020-09-29 10:15:36 PM  
It doesn't have to be. I'm not downplaying the seriousness of half a billion dollars owed to mysterious shadowy figures, but if you have 3.2B in non-liquid assets and 1.1B in debt and you're President of the USA, you've got enough leverage to say "Yeah, fark you, I'll pay you when I pay you." And then presumably you make moves to liquidate some of your assets so you can get the monkey off your back.

Trump's debt isn't the threat. It's his unwillingness to liquidate the assets to pay off the debt that's the issue. That indicates there's some leverage not based on money.
 
2020-09-29 10:32:39 PM  

palelizard: It doesn't have to be. I'm not downplaying the seriousness of half a billion dollars owed to mysterious shadowy figures, but if you have 3.2B in non-liquid assets and 1.1B in debt and you're President of the USA, you've got enough leverage to say "Yeah, fark you, I'll pay you when I pay you." And then presumably you make moves to liquidate some of your assets so you can get the monkey off your back.

Trump's debt isn't the threat. It's his unwillingness to liquidate the assets to pay off the debt that's the issue. That indicates there's some leverage not based on money.


That $3.2B illiquid asset is based on his assessment of the asset's value. When it comes time for him to sell it to pay off a debt, it would be worth much less, because the buyers know he has to get the money. First off, there aren't that many buyers, and secondly, any buyer able to put out $3B worth of cash would be savvy enough to negotiate it down to $1B (if that). And any foreign entity willing to pay even $1B would be demanding a lot of other strings to be pulled given his position as POTUS, and that's where the national security threat becomes relevant.
 
2020-09-29 10:51:00 PM  

dericwater: palelizard: It doesn't have to be. I'm not downplaying the seriousness of half a billion dollars owed to mysterious shadowy figures, but if you have 3.2B in non-liquid assets and 1.1B in debt and you're President of the USA, you've got enough leverage to say "Yeah, fark you, I'll pay you when I pay you." And then presumably you make moves to liquidate some of your assets so you can get the monkey off your back.

Trump's debt isn't the threat. It's his unwillingness to liquidate the assets to pay off the debt that's the issue. That indicates there's some leverage not based on money.

That $3.2B illiquid asset is based on his assessment of the asset's value. When it comes time for him to sell it to pay off a debt, it would be worth much less, because the buyers know he has to get the money. First off, there aren't that many buyers, and secondly, any buyer able to put out $3B worth of cash would be savvy enough to negotiate it down to $1B (if that). And any foreign entity willing to pay even $1B would be demanding a lot of other strings to be pulled given his position as POTUS, and that's where the national security threat becomes relevant.


True, the evaluation is based on his inflated assessment. And his profitable properties are not mostly his own. But the properties could be independently evaluated and dealt with, as they are physical things in the real world, as opposed to options/futures/etc. I'm not in any way defending him, he's a threat, I just don't think the threat comes from debt (or perhaps debt alone). He's gone into bankruptcy plenty of times before and is still where he is.

He's just a national security threat for other reasons. Hell, maybe it wouldn't be the worst idea for the US government to just purchase all the debts of every President just in case and then sell them off after their tenure ends. I'm spitballing there, haven't thought through all the consequences.
 
2020-09-29 10:55:09 PM  
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2020-09-29 10:55:39 PM  
Yeah but did you hear about Hunter Biden getting $3 million from a Russian once?

I know I did, ten or fifteen goddamn times tonight.
 
2020-09-29 11:02:04 PM  

dericwater: palelizard: It doesn't have to be. I'm not downplaying the seriousness of half a billion dollars owed to mysterious shadowy figures, but if you have 3.2B in non-liquid assets and 1.1B in debt and you're President of the USA, you've got enough leverage to say "Yeah, fark you, I'll pay you when I pay you." And then presumably you make moves to liquidate some of your assets so you can get the monkey off your back.

Trump's debt isn't the threat. It's his unwillingness to liquidate the assets to pay off the debt that's the issue. That indicates there's some leverage not based on money.

That $3.2B illiquid asset is based on his assessment of the asset's value. When it comes time for him to sell it to pay off a debt, it would be worth much less, because the buyers know he has to get the money. First off, there aren't that many buyers, and secondly, any buyer able to put out $3B worth of cash would be savvy enough to negotiate it down to $1B (if that). And any foreign entity willing to pay even $1B would be demanding a lot of other strings to be pulled given his position as POTUS, and that's where the national security threat becomes relevant.


Also, assuming he liquidates those assets his tax liability would immediately eat up a large portion of whatever was obtained. Those assets are carried on the books as depreciated assets and the recapture rules would make subject him to very large tax liabilities as the capital gains are based not upon his purchase price, but rather his purchase price less any depreciation he has already taken. The deprecation of those assets has been milked like crazy to eliminate his tax liability over past years and an outright liquidation triggers all of the capital gains being taxed.
 
2020-09-29 11:25:52 PM  
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2020-09-29 11:27:28 PM  
And that's just the debt we know about.
 
2020-09-29 11:48:10 PM  
His complete disregard for every value that your country was built on is the much bigger threat.

// he's tearing you apart, lisa
 
2020-09-29 11:56:23 PM  
Trump voters are okay with this, because Lord knows, none of those has ever known a time when they weren't attempting to lie their way out of debt.
 
2020-09-30 12:03:18 AM  
Pinocchio's greed, lying, and ignorance are national security threats.
 
2020-09-30 12:03:29 AM  

Koodz: Yeah but did you hear about Hunter Biden getting $3 million from a Russian once?

I know I did, ten or fifteen goddamn times tonight.


I was actually a bit surprised by how negatively Trump painted Russia tonight. But it's his usual M.O... if he feels like he can get any negativity about Russia to stick to Biden, he'll call them nasty names from now until the election.
 
2020-09-30 4:57:53 AM  

palelizard: It doesn't have to be. I'm not downplaying the seriousness of half a billion dollars owed to mysterious shadowy figures, but if you have 3.2B in non-liquid assets and 1.1B in debt and you're President of the USA, you've got enough leverage to say "Yeah, fark you, I'll pay you when I pay you." And then presumably you make moves to liquidate some of your assets so you can get the monkey off your back.

Trump's debt isn't the threat. It's his unwillingness to liquidate the assets to pay off the debt that's the issue. That indicates there's some leverage not based on money.


The President of the United States attempting to liquidate billions of dollars worth of personal assets is also a national security for the same reasons.
 
2020-09-30 4:41:45 PM  
One of those headlines requiring no change for Fark headline: Trump's debt is a national security threat

Well, of course.  Anyone who's ever filled out the SF-86 form required for the government background check for even the most basic, bottom-of-the-totem-pole security clearance will remember Section 26, financial record, and would know that financials like Trump's would make one very vulnerable to blackmail, extortion, or quid-pro-quo corruption.

Of course, anyone who's ever filled out that form has had to answer some hard questions about:
...people who know them well (Section 16)
...and marital/relationship history (Section 17)
...and relatives (Section 18)
...and foreign contacts (Section 19)
...and foreign financial holdings (Section 20A)
...and foreign business activities and government contacts (Section 20B)
...and foreign travel (Section 20C)
...and psychological and emotional health (Section 21)
...and police record (Section 22)
...and use of drugs, if any (Section 23)
...and use of alcohol, if any (Section 24)
...and whether the government has done background checks or investigations of them in the past (Section 25)
...and use of information technology systems (Section 27)
...and involvement in civil court cases (Section 28)
...and any connections to hate groups or domestic terrorists (Section 29)

Somehow, I think Trump would be much less than eager to discuss any of those areas.

But of course, the government doesn't require the President to submit an SF-86, because political parties only nominate honorable and upstanding citizens to lead the country and have ultimate classification authority, including the ability to declare anything classified at any time, and to just as easily declassify anything simply by sharing it with someone who's not authorized to see or hear it.  No one in their right mind would ever nominate someone for President who would raise red flags in a dozen or more different sections of the form, right?

Political parties seriously need to get this form, which is an easily-googled free download from the Office of Personnel Management, and at least ask people those questions before even letting them be candidates for nomination to high office.
 
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