LORD TRUMP OF TAJ MAHAL IN TROUBLE
A week or two back I included Trump in my list of billionaires along with Kerkorian and Redstone whose fortunes are headed for disaster. I couldn’t help but notice the media darling never got a mention that Deutsche Bank wants its bridging loan for a huge development in Chicago gone bad, immediately paid up together with the $40 million personal guarantee Donald signed in order to obtain the funding. A month or so ago, Trump tried to have the “force majeure” clause of the contract invoked through the courts. Force majeure basically means the building would have to be felled by a huge earthquake or similar such natural disaster. Trump tried to claim the recession that has killed the sales of the condominium part of the project as an act of God! I thought this guy projected himself as God and above all human beings so what’s the problem? The fact of the matter is you, Lord Trump of Taj Mahal, don’t have the $40 million in a bank account to meet your obligation. Thank goodness the courts saw no merit in your claim.
The reality is this self promoter of greed and avarice has lived off OPM (other people’s money) for too long and has leveraged himself to the hilt by basing his personal wealth on the previously ever climbing real estate values. Well Trumpy, unlike the last recession where the banks did not want to become property owners and had the funds to support you over the crisis, this time banks are calling their money in and blokes like you are going to have to use your own money to back your investments or you go broke. Maybe all those smart Alec “apprentices” you had on your T.V. shows can come out of the woodwork and show their mettle on how to rescue your empire. For me, like those lowlifes on Wall Street, the world will be a better place without an egomaniacal blowhard like you.
If I were you right now, like many of your compatriots around the world, I would be selling off assets to repay debts while there is still an opportunity.
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