Insider leaks real reason for GOP kingpins' anti-Cruz venom

[sneakypete]

I have Google. What you said about the amount of Trump's inheritance is untrue.

Are you saying he didn't inherit $12 million first,plus all the rental properties?

Or are you saying he didn't inherit 200 million when his father died,plus a cut of his fathers businesses?

BTW,there is nothing wrong with inheriting money and property. People should leave a cushion for their children and grandchildren if they are able.

Inheriting money doesn't make you smart,though.

[sneakypete]

I'll say this once. Let's see if it sinks in.

We have a full slate of Republican presidential candidates. Donald Trump is one of them.

What you'all call being in love with Donald Trump, I call support for a candidate.

So tell me Mikey, Petey. Which candidate are you in love with?

None. Why do I have to be in love with any of them? We DO have freedom of choice in this country,ya know?

BTW,my name isn't Mikey.

[sneakypete]

Actually.  It is true.  Trump did inherit his father's money; real estate tycoon Fred Trump.  Fred Trump's story is the story of rags to riches; not Trump's. 

"Trump was born in New York City in 1946, the son of real estate tycoon Fred Trump. Fred Trump’s business success not only provided Donald Trump with a posh youth of private schools and economic security but eventually blessed him with an inheritance worth an estimated $40 million to $200 million. It is critical to note, however, that his father’s success, which granted Donald Trump such a great advantage, was enabled and buffered by governmental financing programs. In 1934, while struggling during the Great Depression, financing from the Federal Housing Administration (FHA) allowed Fred Trump to revive his business and begin building a multitude of homes in Brooklyn, selling at $6,000 apiece. Furthermore, throughout World War II, Fred Trump constructed FHA-backed housing for US naval personnel near major shipyards along the East Coast...."

Perhaps most important to note about Trump:

Trump eventually found himself in serious financial trouble. In 1990, due to excessive leveraging, The Trump Organization revealed that it was $5 billion in debt ($8.8 billion by some estimates), with $1 billion personally guaranteed by Trump himself. The survival of the company was made possible only by a bailout pact agreed upon in August of that same year by some 70 banks, allowing Trump to defer on nearly $1 billion in debt, as well as to take out second and third mortgages on almost all of his properties. If it were not for the collective effort of all banks and parties involved in that 1990 deal, Trump’s business would have gone bankrupt and failed.


http://www.alternet.org/story/156234/exposing_how_donald_trump_really_made_his_fortune%3A_inheritance_from_dad_and_the_government's_protection_mostly_did_the_trick

Thank you. It should be noted that the first inheritance he got was for 12 million,plus all those NYC rental properties,and it came from his grandfather. IIRC,that was a trust fund he got when he turned 21.

The 200 million plus other assets came from his father.

Given what he started with,he's really a pretty lousy businessman.

[Mod2]

(No - Mod2) is a negative name for a Trump fan,now? If they/you find that insulting,why are you fans of Trump?

BTW,nice job of removing the word (No - Mod2) so that others will think I actually did call them something they would see as degrading.

You have been warned about using these terms to describe Trump's supporters - don't do it again!

[aligncare]

Trumpeteer is a negative name for a Trump fan,now? If they/you find that insulting,why are you fans of Trump?

BTW,nice job of removing the word Trumpeteer so that others will think I actually did call them something they would see as degrading.

It's just that we Trumpeteers are jealous of Cruz supporters because they get to use the phrase, 'Cruz Control'. Damn that's cool.

[sneakypete]

You started your reply so, so well  ^-^.    However, I disagree on your reasoning for why Donald Trump entered this race.  It has nothing to do with money.  He's got more of it that you and I combined could spend through the rest of our lifetimes.  So, no, it's not about money.  Period.

Ok. These are all opinions,and we all base them on the information we have seen and what we think is most likely. We will find out who is right about at least some of this before long.

 

I think Trump is an American patriot and he is sickened by what has happened to us, most especially though these past eight years, but also including the Bush II years.  Trump himself answered the question:  "Why are you running" and he said because (and I paraphrase) he's watched the past few presidents and presidential candidates and came to the conclusion that he could do a better job for America.

Apparently, so do the Americans paying attention to our economic, social a geopolitical decline.

The first part is a quote,the second part is your opinion. I personally don't think a financial career based on bankruptcy makes someone a genius when it comes to restoring our economy.

[sneakypete]

You're grabbing at straws here.  Being free from the ties of other people's money is a cornerstone of Donald Trump, the man--and a source of pride.

No one is going to rent him or own him.  Ever.

You HAVE to be kidding! The man owes,or at least owed,more than he has. He even charged his own campaign 700 grand a month or so ago for the use of his private jet. We have no idea how much he charged for the use of his limos,his bodyguards,his valet,etc,etc,etc. The one thing we do know is that he damn sure didn't pay for it himself.

[sneakypete]

I stand corrected on the amount of his inheritance: The will of Trump's father, who died in 1999, divided an estate estimated at $250–300 million equally among his four surviving children.[49]

However, it is an estimate.

But I'm getting some mixed signals from Trump's detractors. Do you like old money (inherited money) or do you dislike old money? (By the way, Trump took that inheritance, and in less than a generation turned it into a vast fortune. A remarkable feat for anybody. Revealing tremendous talent, drive and determination on the part of Donald Trump)

Are we supposed to like the rich or are we supposed to dislike the rich. Which is it?

He took that money,and went bankrupt by 1990 due to bad business decisions. The only reason the banks didn't put him out on the street is because some of them would have failed if he had gone down. Instead they took over managing his businesses and put him on a allowance.

How is it possible you people don't know this?

[sneakypete]

You are supposed to be against anything that Trump says, does, or represents.

If Trump says that he prefers Coke, you must like Pepsi.

If Trump says that he likes cats, you must say that you prefer dogs.

If Trump says....

You get the general idea!   

It's not about inherited money. It is about a political candidate whose whole financal well-being is based on inherited money bragging about his wealth,and his supporters bragging about how good a businessman he is because he is rich,and how this means he will bail out the country.

No matter how many times you tell those people his business model is bankruptcy and he has declared bankruptcy at least 4 times,they don't believe it because they don't WANT to believe it.

[aligncare]

He took that money,and went bankrupt by 1990 due to bad business decisions. The only reason the banks didn't put him out on the street is because some of them would have failed if he had gone down. Instead they took over managing his businesses and put him on a allowance.

How is it possible you people don't know this?

Every successful CEO, company, entrepreneur failed at something, at some point.

Apple CEO Steve Jobs was fired from Apple in the middle of his career. Yet, after he was rehired he took the company to unprecedented heights.

Lee Iacoca at the height of his career was fired as president of Ford Motor Company. Then goes to Chrysler, a failing car company and turns it around.

Jack Welch had many failures before making GE the giant that it is today.

Microsoft failed with their launch of the Zune. Never hear of it? That's because it lost the market to iPod.

Google glasses. Do you own a pair? No? That's because it went nowhere. It failed. Is Google a bad company because one of its products failed? Heck no, Google is huge.

The four Trump casinos that went bankrupt in Atlantic City everyone's hyperventilating about? Guess what? The entire sector in Atlantic City went out at the same time:
Caesar's Palace Atlantic City, failed.
MGM Grand Atlantic City, failed.
Wynn's Atlantic City, failed.

The differences is, of the casinos that failed, Trump's were still making the most money.

[sneakypete]

Every successful CEO, company, entrepreneur failed at something, at some point.

Apple CEO Steve Jobs was fired from Apple in the middle of his career. Yet, after he was rehired he took the company to unprecedented heights.

Lee Iacoca at the height of his career was fired as president of Ford Motor Company. Then goes to Chrysler, a failing car company and turns it around.

Jack Welch had many failures before making GE the giant that it is today.

Microsoft failed with their launch of the Zune. Never hear of it? That's because it lost the market to iPod.

Google glasses. Do you own a pair? No? That's because it went nowhere. It failed. Is Google a bad company because one of its products failed? Heck no, Google is huge.

The four Trump casinos that went bankrupt in Atlantic City everyone's hyperventilating about? Guess what? The entire sector in Atlantic City went out at the same time:
Caesar's Palace Atlantic City, failed.
MGM Grand Atlantic City, failed.
Wynn's Atlantic City, failed.

The differences is, of the casinos that failed, Trump's were still making the most money.

Is that your way of admitting Trump isn't a financial genius,and as perfect as he claims?

BTW,none of the other people you mentioned started out wealthy with successful businesses and assets given to them,and none of them based or base their wealth on money manipulation.

One thing Trump was suggesting is absolutely true,though. He does know some really good money managers he can hire to help him with the US budget. All he has to do is call the same guys the bankruptcy court used to give him his allowance.

[Scottftlc]

Microsoft's Bill Gates grew up very well off - family worth multi-millions. His parents owned, among other businesses, the NBC TV local affiliate in Seattle.  I knew the family when I was young, mother was also a member of the board of regents of the University of Washington.  Not as uber-rich as Bill became, but he had a tremendous jump start. Gates met Co-founder Paul Allen at an exclusive private school in Seattle when they were adolescents.

[aligncare]

Microsoft's Bill Gates grew up very well off - family worth multi-millions. His parents owned, among other businesses, the NBC TV local affiliate in Seattle.  I knew the family when I was young, mother was also a member of the board of regents of the University of Washington.  Not as uber-rich as Bill became, but he had a tremendous jump start. Gates met Co-founder Paul Allen at an exclusive private school in Seattle when they were adolescents.

I guess things will never change. Trust fund babies will forever be despised and envied.

We all say we want to be rich and pass that money down to our kids. But if you should happen to make your mark on this world, yes those kids of yours will start out life with certain advantages, but so too will they have certain challenges to overcome. Like the chip on every one else's shoulder.

[Dexter]

so too will they have certain challenges to overcome.

Problems I'd love to have for $200 Alex.

[aligncare]

Problems I'd love to have for $200 Alex.

Well, I struggled with that for a while but decided on 'challenge' as the best word for it.

Yeah - I wish I had those challenges.

[sneakypete]

Microsoft's Bill Gates grew up very well off - family worth multi-millions. His parents owned, among other businesses, the NBC TV local affiliate in Seattle.  I knew the family when I was young, mother was also a member of the board of regents of the University of Washington.  Not as uber-rich as Bill became, but he had a tremendous jump start. Gates met Co-founder Paul Allen at an exclusive private school in Seattle when they were adolescents.

 I happened to tune into a show on PBS one night about the Windows and Mac founders and their supposed beginnings in garages,and one of the things they said about Gates was that after he bought DOS from the guy that invented it,he sold it to IBM. The show said that one advantage he had was his mother was on the board of IBM at the time.

I have no idea if this is true or not,but it is what they said.

[Formerly Once-Ler]

Gohmert isn't an insider.  He didn't leak anything.  WND is click bait.

[sneakypete]

I guess things will never change. Trust fund babies will forever be despised and envied.

Only despised when they claim they made it all on their own because they are so smart.

[Scottftlc]

I happened to tune into a show on PBS one night about the Windows and Mac founders and their supposed beginnings in garages,and one of the things they said about Gates was that after he bought DOS from the guy that invented it,he sold it to IBM. The show said that one advantage he had was his mother was on the board of IBM at the time.

I have no idea if this is true or not,but it is what they said.

It is possible - both his mother and father sat on many public and private boards - they were major community stalwarts, but I don't happen to know that one specifically.  His father was the real businessman in the family...until Bill eclipsed pretty much everyone.

[aligncare]

Only despised when they claim they made it all on their own because they are so smart.

Donald Trump increased his inheritance rather substantially in his 50-year career.

I'm not sure I understand your claim. Are you saying Donald Trump inappropriately bragged about some aspect of his current wealth. Are you referring to a specific quote he made? Or, are you just expelling carbon dioxide.

[libertybele]

It's just that we Trumpeteers are jealous of Cruz supporters because they get to use the phrase, 'Cruz Control'. Damn that's cool.

...hmmm.  I have never used the term, but the term Trumpeteers is now seen as a derogatory comment?  OMG  Seriously. Trumpeteers or, Cruzers or Rubots ??? We are adults right??  I didn't think we had any Mouseketeers in here.   

[Bigun]

I happened to tune into a show on PBS one night about the Windows and Mac founders and their supposed beginnings in garages,and one of the things they said about Gates was that after he bought DOS from the guy that invented it,he sold it to IBM. The show said that one advantage he had was his mother was on the board of IBM at the time.

I have no idea if this is true or not,but it is what they said.

He bought DOS for $50,000 and tried to sell it to IBM for a huge profit but they weren't interested because they already ( OS-1) so he packaged it as MICROSOFT  DOS and gave it away with new PCs.  Made him billions in the long run!

[Right_in_Virginia]

I personally don't think a financial career based on bankruptcy makes someone a genius when it comes to restoring our economy.

Hyperbole much?   

[Right_in_Virginia]

Only despised when they claim they made it all on their own because they are so smart.

Link please.  Thanks.

[libertybele]

Link please.  Thanks.

Google usually works fairly well ...just sayin'.