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(MSN)   Deutsche Bank forgave $287 million that Trump couldn't pay back. How do the rest of us get that kind of thoughtful consideration from the bank?   (msn.com) divider line
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3449 clicks; posted to Politics » on 27 Oct 2020 at 11:30 PM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2020-10-27 5:53:27 PM  
That's taxable income...
 
2020-10-27 5:58:00 PM  
Become president?
 
2020-10-27 6:05:05 PM  

moos: That's taxable income...


Yup.
 
2020-10-27 6:07:49 PM  
When you owe the bank $287, the bank owns you. When you owe the bank $287,000,000, you own the bank.
 
2020-10-27 6:09:45 PM  

FlashHarry: When you owe the bank $287, the bank owns you. When you owe the bank $287,000,000, you own the bank.


I think he's said something similar in the past
 
2020-10-27 6:14:27 PM  
We just have to be very legal and very cool geniuses like Trump, subby. Don't be jealous.
 
2020-10-27 6:19:07 PM  
What did they get in return?
 
2020-10-27 6:21:41 PM  

cretinbob: What did they get in return?


A lap dog.
 
2020-10-27 6:45:32 PM  

cretinbob: What did they get in return?


A SCOTUS pick.
 
2020-10-27 6:53:26 PM  
I'd say this is an October Surprise but...is anyone really surprised?
 
2020-10-27 7:26:24 PM  

cretinbob: What did they get in return?


Not death.
 
2020-10-27 8:33:43 PM  
Fark user imageView Full Size
 
2020-10-27 8:39:28 PM  
"I'm, like, the least-corrupt person in this courtroom, Your Honor."
 
2020-10-27 8:40:48 PM  

italie: cretinbob: What did they get in return?

Not death.


So, cake?
 
2020-10-27 8:50:47 PM  
Launder money for Russian oligarchs?
 
2020-10-27 9:32:58 PM  

buttercat: [Fark user image 190x266]


Hey we can make a rel no don't.
 
2020-10-27 10:10:59 PM  
1. Believe in freedom
2. Love America
3.  Be mobbed up to all hell
 
2020-10-27 11:00:35 PM  
Fark user imageView Full Size
 
2020-10-27 11:33:39 PM  
this bank should have been shut down when it was discovered to be laundering terrorist and cartel etc $$$
 
2020-10-27 11:34:59 PM  
SO FARKING TIRED of Teflon Don getting away with murder, every farking time, out in the open. What is the true story that we (not just the oblivious (m)asses), don't know???
 
2020-10-27 11:35:27 PM  

moos: That's taxable income...


Well, $750 of it is.
 
2020-10-27 11:37:12 PM  
Apparently the key is to be reprehensible human shiat that runs a dipshiatty crime family of genetically defective failsons and incest loving daughters.

Is it any wonder right wingers love them so much? They're everything right wingers are, and for some reason, not ashamed of being the dregs of humanity like they would be if they had the human capacity for empathy or shame, which they quite firmly do not.
 
2020-10-27 11:37:59 PM  
Merkel should gut Deutsche Bank. Theyve been doing money laundering for drug cartels and the russian mafia for decades. Bare minimum the whole board of ceo need to hang.
 
2020-10-27 11:39:51 PM  

moos: That's taxable income...


That's super funny and is totally contingent on actually paying taxes.
 
2020-10-27 11:40:24 PM  
Know the right Eurasian gangsters.
 
2020-10-27 11:40:46 PM  
Was it over when the Germans bailed out Trump?
 
2020-10-27 11:40:48 PM  
I think this just means that Deutsche Bank are good Christians. Who's got a Bible to hold upside down?
 
2020-10-27 11:41:19 PM  
That's one big rug to be sweeping that under...
 
2020-10-27 11:41:27 PM  
Is this just a Trump phenomenon? Or does this kind of poppycock happen all the time with the super-wealthy and Trump is the only one found out because he's the most scrutinized man in America?
 
2020-10-27 11:42:56 PM  
But you don't have the money to pay for a $200 lab fee to get your blood drawn because your doctor put in the wrong code for the insurance, and your ass gets sent to collections.
 
2020-10-27 11:44:40 PM  
I've Got $20 More Than the President | The Amber Ruffin Show
Youtube 3H21USa6mY4


Trump owes as much money how many poor people? Millions at least. He lost nearly 2% of all the money lost in the United States one year. Why are we letting this failure destroy our country?
 
2020-10-27 11:48:12 PM  

arrogantbastich: cretinbob: What did they get in return?

A SCOTUS pick.


Three
 
2020-10-27 11:48:34 PM  
Ha!
Wait until you find out how much he screwed the USA for!

You've been sold to RUSSIA to settle bad debts!!
 
2020-10-27 11:49:02 PM  

gilgigamesh: moos: That's taxable income...

Well, $750 of it is.


That's just the filing fee
 
2020-10-27 11:51:04 PM  
Blowjobs. Lots of blowjobs.
 
2020-10-27 11:51:38 PM  

moos: That's taxable income...


I've got an accounting degree (though I haven't worked in that field yet), and you're damn right it is.

Wonder if he bothered to fill out his 1099-C for that...
 
2020-10-27 11:56:55 PM  
his biggest lender, Deutsche Bank DB , lent him another $99 million even after he had sued the bank, accusing it of predatory lending practices.
 
2020-10-28 12:03:59 AM  

moos: That's taxable income...


Which the NYT mentioned was reported as such.

FTA:

The forgiven debts showed up in Mr. Trump's tax returns. For 2010, Mr. Trump's 401 Mezz Venture reported about $181 million in canceled debts. Two years later, DJT Holdings, an umbrella company that the Chicago project had been folded into, reported that another $105 million of debt had been forgiven. Most of that appears to reflect the Fortress sum.

The tax records reviewed by The Times show that while Mr. Trump accounted for $287 million of income from his canceled debts, he managed to avoid paying income taxes on nearly all of it.

Mr. Trump reported $40 million of forgiven debt as income in 2010. But losses from his businesses - including $30.8 million in red ink on the Chicago project - meant he had no taxable income that year.

Despite drawing new business from its connection to the president, the property would continue to fall short, with retail space sitting empty and profits plummeting.
Mr. Trump avoided immediate income taxes on another $104.8 million of the forgiven loans in a way that could increase his taxes later. He would generally have been entitled to write off the total amount he spent on a building over a number of years, a process known as depreciation. Instead, he agreed t
o reduce those eventual write-offs by $104.8 million, an alternative allowed in tax law.
For the other $141 million, Mr. Trump took advantage of a law, passed after the 2008 financial crisis, that allowed income from canceled debts to be deferred for five years and then spread out over the next five. Each year from 2014 through 2018, Mr. Trump declared $28.2 million of canceled-debt income
.
 
2020-10-28 12:10:21 AM  

Jedbone: SO FARKING TIRED of Teflon Don getting away with murder, every farking time, out in the open. What is the true story that we (not just the oblivious (m)asses), don't know???


This is what gets me too. Once... JUST ONCE... I'd like to see this man suffer the consequences of his own actions.
 
2020-10-28 12:10:56 AM  

Conthan: [Youtube-video https://www.youtube.com/embed/3H21USa6​mY4]

Trump owes as much money how many poor people? Millions at least. He lost nearly 2% of all the money lost in the United States one year. Why are we letting this failure destroy our country?


Basically, because too many people took his word for it when he said he was rich and successful.
 
2020-10-28 12:12:10 AM  
Fark user imageView Full Size
 
2020-10-28 12:13:38 AM  

Weatherkiss: But you don't have the money to pay for a $200 lab fee to get your blood drawn because your doctor put in the wrong code for the insurance, and your ass gets sent to collections.


According to sawbones, it's the billing department not the doctor that handles the codes.
 
2020-10-28 12:17:48 AM  

arrogantbastich: cretinbob: What did they get in return?

A SCOTUS pick.


Momentary protection for all their Russian money laundering.
 
2020-10-28 12:18:12 AM  
Fortress had expected to receive more than $300 million from his company: the $130 million in principal and roughly $185 million in anticipated interest and fees.

$185M in interest and fees on $130M after just three years. That's a ~30% APR. Damn.
 
2020-10-28 12:19:13 AM  

Underwater Bystander: Is this just a Trump phenomenon? Or does this kind of poppycock happen all the time with the super-wealthy and Trump is the only one found out because he's the most scrutinized man in America?


The media has spent more time scrutinizing Taylor Swift's dating habits than Trump's finances.
 
2020-10-28 12:19:58 AM  

italie: cretinbob: What did they get in return?

Not death.


Cake?
 
2020-10-28 12:24:31 AM  

cretinbob: What did they get in return?


Him shutting TF up for 15 solid, uninterrupted minutes?


(Worth it)
 
2020-10-28 12:26:14 AM  

MikeyFuccon: Be in hock to the right Eurasian gangsters.


Fixed.
 
2020-10-28 12:28:14 AM  

Sgt Otter: Underwater Bystander: Is this just a Trump phenomenon? Or does this kind of poppycock happen all the time with the super-wealthy and Trump is the only one found out because he's the most scrutinized man in America?

The media has spent more time scrutinizing Taylor Swift's dating habits than Trump's finances.


Taylor Swift!?

What happened?
 
2020-10-28 12:30:18 AM  

1funguy: Ha!
Wait until you find out how much he screwed the USA for!

You've been sold to RUSSIA to settle bad debts!!


Ivan will be sampling his new purchase after lights out.  Hopefully he'll remember to use lotion, at least tonight.

Trump will, of  course, still demand that you show him gratitude for setting you up on your "date" with your new owner and shower him with effusive praise.
 
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