Kurt Eichenwald’s huge list of Trump failures destroys GOP nominee’s self-proclaimed business prowess
Newsweek reporter Kurt Eichenwald has spent the election researching Donald Trump so thoroughly that it has even prompted investigations and lawsuits.
Playing the role of a closer, Eichenwald went off on a Twitterstorm of his research that outlines the horrifying deals that should eliminate Trump’s business prowess as a qualification for the White House.
Check out the explitation below:
That is my first batch of findings from my investigations into Trump, as reported in Newsweek. More coming throughout the day.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
1.Trump lied to Congress that he was not meeting with any Indian casino executives when documents and sworn statements show he was.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
2.Trump testified under oath that he is willing to claim success on something even when he knows his claim is false.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
3. Deutsche Bank concluded Trump net worth at $788 million when he was publicly claiming (and told bank) he was worth multiple billions.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
4. Trump said under oath that he determines his net worth based on how he feels.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
5. While Trump suggests he has an MBA from prestigious Wharton graduate school, only attended undergraduate program for 2 years. Has no MBA
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
6. Trump’s first project, given to him by his dad, lost money, according to state records. Trump has publicly lied that it made money.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
7. Trump’s second project was a Broadway show. It bombed, closing after 96 performances. He lost his investment.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
8. Trump’s claim that his dad gave him only $1m is a lie. His trust fund was $1 mill. Dad gave $10.4m for a bogus consultant job…(1 of 2)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
..guaranteed $70 m loan, got him $35m credit line, laundered $3.35mill 2 Don in illegal casino deal, loaned $7.5m more (never repaid.) 2/2
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
10. As Trump claimed great success, tax returns showed not. In ‘78 lost $1.5M. In ‘79, lost $11.4m. No bankruptcy cause dad gave him more $
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
11. When Trump built Taj Mahal, testified under oath to NJ he'd only use bank loans, not junk bonds. No bank would lend. Used junk bonds.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
12. Trump’s 3 casinos all competed with each other, which is why no banks loans. Taj took business from his other 2 casinos, crippling all.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
13. Trump spent huge sums on airline, promising top elegance. People w/ airline experience said it couldnt work. It never turned a profit.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
14. After Trump’s top casino execs died in accident, Trump took over running them. Large numbers of execs quit because of his management.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
15. When Trump about to default on interest payment for casino, his dad/he broke law by having dad launder $3.35 mill through casino. (1/3)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
16. Dad gave Trump another $150,000 loan next day, unreported to banks, in violation of bank agreement. (2/3)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
17 Rules breaking in financing (money laundering from dad etc) resulted in sanctions against him from NJ casino commission. (3/3)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
18. Trump banks were forced to make deal with him after bankruptcy of casinos because he personally guaranteed loans. If they went…(1/2)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
.…after personal guarantee, entire Trump empire would collapse and banks would lose billions. Banks loaned him tons more to save him. (2/2)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
19. Trump was $3.5 bill in debt. Later, when banks bailed him out, he claimed in books he was $9.5bill in debt to make recovery look better.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
21. Trump admitted under oath that, when he claimed he was $9.5 bill in debt in his books, it was a lie and he knew it.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
22. No banks will lend to Trump except Deutsche Bank. In 2008, he defaulted on a $640 mill construction loan to them.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
23. List of Trump failures: TrumpMortgage, TrumpFinancial, Trump Hotels & Casino Resorts, Trump Shuttle, https://t.co/YpGFDcXmYx…(1/3)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
24. ..Trump Vodka, Trump Steaks, Trump Taj, Trump Castle, Trump Plaza, Trump Dubai, Trump University, Trump Toronto, Trump Hollywood..(2/3)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
25. I could go on many more tweets listing Trump's business failures. It'd be easier to list the Trump businesses that haven't failed. (3/3)
— Kurt Eichenwald (@kurteichenwald) November 7, 2016
26. In Trump University, Trump claimed to “personally select” teachers who would teach real estate secrets. He did not, they did not.
— Kurt Eichenwald (@kurteichenwald) November 7, 2016