Strategic bankruptcy may be Trump’s refuge

In addition to Donald Trump’s future political life, his business opportunities have also been jeopardized after riots in Washington last week, as supporters and lawmakers from his party backed away one by one.

Several Republican lawmakers have already indicated their support for the constitutional impeachment measure against Donald Trump, so the vote, which took place last night in Hungary, was a practical formality. Liz Cheney, the daughter of former Republican Vice President Dick Cheney, a former defense secretary and the third-highest-ranking Republican in the House of Representatives, said there would have been no siege of the Capitol building last week had Trump not instigated the crowd.

No president of the United States has committed such a betrayal of his position and the swearing-in of the Constitution.

Advertise. Trump is the first president in US history to undergo two constitutional measures.

The final word is given by the Senate, which can only move the president with a two-thirds majority, meaning that the support of at least 17 Republicans in the Senate is also required. According to US press reports, Mitch McConnell, the leader of the Republican majority in the Senate until January 20, in contrast to the first trial, now does not regret the trial as he is confident that it will help the party get rid of Trump and Trump. (His wife, Transportation Secretary Eileen Chau, was the first cabinet member to quit in protest of the riot.) Republican sources say that if McConnell supports the president’s conviction, there will be the majority needed.

Photo: Saul Loeb / AFP

Not only is Trump’s potential political career going, but his business prospects are weakening as more and more financial institutions fail to grapple with him due to the turmoil.

For example, the signature bank closed two personal accounts it had about $ 5.3 million. He also wants his biggest creditor, Deutsche Bank, to sever ties with him. Trump has been with the Deutsche Bank for more than two decades after a spate of bankruptcies from JPMorgan Chase to Citigroup closed due to a string of bankruptcies. The Trump Organization, which collects the president’s business, owes $ 340 million to Deutsche Bank. The debt will expire in 2023 and 2024, and it certainly won’t be restructured.

The light on Trump’s name has faded sharply, making the president untenable from a PR perspective

Mark Williams, a lecturer in finance at Boston University, told CNBC. According to informed sources, Deutsche Bank is no longer willing to fund Trump’s political career, as he was rejected when he applied for tens of millions of dollars in loans for his campaign in 2016. However, he became truly unacceptable by dismissing the November presidential election result.

Deutsche Bank hasn’t lost money in Trump, at least for now. Because he provided a mortgage to the Trump Organization, he is acquiring ownership of the golf courses and hotels included in the contract if the loan cannot be repaid. If that wasn’t enough, they could try to recover the remainder from Trump, who took out a personal loan guarantee. There may be a financial institution that will continue to lend it to him, but perhaps at a higher interest rate. Or it remains the usual scenario: it escapes strategic bankruptcy, as it did at least five times.

READ  Kia EV6 Driving Review

Leave a Reply

Your email address will not be published. Required fields are marked *