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Is Donald Trump broke ?
#1
Some interesting comments on why Trump was using his foundation to pay his bills.

Essential Consultants, the Trump Foundation
and Donald Trump's need for ready cash

[/url]

"On October 3, 2016, the Donald J. Trump Foundation was issued a “notice of violation” and
directed to cease soliciting funds. Exactly two weeks later, on October 17, Michael Cohen
established Essential Consulting LLC.


There might not seem to be an immediate connection between a charitable foundation
supposedly created to channel contributions to worthy causes, and a shadowy company for
which Cohen solicited contributions from both US and foreign corporations. Except that both
seemed to serve the same purpose: Provide Donald Trump with a means to spend other
people’s money while dealing with his legal issues.....



Trump treated the funds that landed in his foundation ....]. He bought
football memorabilia and several genuinely hideous portraits of himself. He also made sizable
political contributions out of the fund...... But the biggest self-dealing
that Trump did from his “charity” was in [url=https://www.washingtonpost.com/politics/trump-used-258000-from-his-charity-to-settle-legal-problems/2016/09/20/adc88f9c-7d11-11e6-ac8e-cf8e0dd91dc7_story.html?postshare=7751474381637324&utm_term=.fbf37db9f60b]covering his personal legal fees
. That included covering
the legal expenses after Trump welched on a golf bet. The foundation had to admit this usage
when it was closed down, and Trump paid penalties both for self-dealing and for using the
fund for political contributions.

While this was happening, Michael Cohen was not only Donald Trump’s personal attorney, he
was definitely aware of how Trump used his foundation. In fact, it may have been Cohen who
encouraged Trump to tap into that fund for needed cash. And Cohen who provided Trump
with an alternative when that source was closed to him.

It was certainly Cohen who personally solicited a payment to Trump after he gave a speech for
a Ukrainian billionaire. The payment that Cohen demanded for that event didn’t go to the Trump
Organization, it went, by instruction, to the Trump Foundation. Why Trump didn’t simply ask for
a payment to himself for this arrangement remains unclear, as does most of his use of the
Trump Foundation for what are clearly personal purchases. Both Cohen and Trump had to
be aware that the way the foundation was being used was simply illegal.

But for some reason Donald Trump wanted a way to accept and make payments that never
officially touched his business or personal accounts. The reasons for that may simply be that
Trump liked the idea of burning other people’s money. However, there’s a more obvious
reason—one connected to the Trump’s refusal to release his tax forms even when it seemed
failure to do so might cost him the election. The most obvious possibility is simply that Donald
Trump was broke. He spent money from the Trump Foundation because he didn’t have any
elsewhere, and he routed money through the Trump Foundation either because his normal
accounts were in some way encumbered, or he feared that they would be....."
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#2
(05-16-2018, 03:24 PM)aqua Wrote: Some interesting comments on why Trump was using his foundation to pay his bills.

Essential Consultants, the Trump Foundation
and Donald Trump's need for ready cash

[/url]

"On October 3, 2016, the Donald J. Trump Foundation was issued a “notice of violation” and
directed to cease soliciting funds. Exactly two weeks later, on October 17, Michael Cohen
established Essential Consulting LLC.


There might not seem to be an immediate connection between a charitable foundation
supposedly created to channel contributions to worthy causes, and a shadowy company for
which Cohen solicited contributions from both US and foreign corporations. Except that both
seemed to serve the same purpose: Provide Donald Trump with a means to spend other
people’s money while dealing with his legal issues.....



Trump treated the funds that landed in his foundation ....]. He bought
football memorabilia and several genuinely hideous portraits of himself. He also made sizable
political contributions out of the fund...... But the biggest self-dealing
that Trump did from his “charity” was in [url=https://www.washingtonpost.com/politics/trump-used-258000-from-his-charity-to-settle-legal-problems/2016/09/20/adc88f9c-7d11-11e6-ac8e-cf8e0dd91dc7_story.html?postshare=7751474381637324&utm_term=.fbf37db9f60b]covering his personal legal fees
. That included covering
the legal expenses after Trump welched on a golf bet. The foundation had to admit this usage
when it was closed down, and Trump paid penalties both for self-dealing and for using the
fund for political contributions.

While this was happening, Michael Cohen was not only Donald Trump’s personal attorney, he
was definitely aware of how Trump used his foundation. In fact, it may have been Cohen who
encouraged Trump to tap into that fund for needed cash. And Cohen who provided Trump
with an alternative when that source was closed to him.

It was certainly Cohen who personally solicited a payment to Trump after he gave a speech for
a Ukrainian billionaire. The payment that Cohen demanded for that event didn’t go to the Trump
Organization, it went, by instruction, to the Trump Foundation. Why Trump didn’t simply ask for
a payment to himself for this arrangement remains unclear, as does most of his use of the
Trump Foundation for what are clearly personal purchases. Both Cohen and Trump had to
be aware that the way the foundation was being used was simply illegal.

But for some reason Donald Trump wanted a way to accept and make payments that never
officially touched his business or personal accounts. The reasons for that may simply be that
Trump liked the idea of burning other people’s money. However, there’s a more obvious
reason—one connected to the Trump’s refusal to release his tax forms even when it seemed
failure to do so might cost him the election. The most obvious possibility is simply that Donald
Trump was broke. He spent money from the Trump Foundation because he didn’t have any
elsewhere, and he routed money through the Trump Foundation either because his normal
accounts were in some way encumbered, or he feared that they would be....."



DUHBARE2020
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#3
Aqua, the anti-Trump TWAT of our little forum.

oly
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#4
Trump occupies a large part of Aqua's head.
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#5
(05-16-2018, 07:28 PM)oly2059 Wrote: Aqua, the anti-Trump TWAT of our little forum.

oly

Oly, one of the many Trumpanzees of our little forum.

Trump is a crook.

You're in denial.
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#6
(05-16-2018, 08:30 PM)doubletroublejim Wrote: Trump occupies a large part of Aqua's head.

a nasty dose of TDS   Rolleyes

Trump Derangement Syndrome

The left needs to get over it. Trump won and he's here for a while yet.

Meanwhile they need to formulate some viable policies because just hating Trump isn't a policy platform, and they need to find a viable presidential candidate.
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#7
(05-18-2018, 05:39 AM)andrew_o Wrote:
(05-16-2018, 08:30 PM)doubletroublejim Wrote: Trump occupies a large part of Aqua's head.

a nasty dose of TDS   Rolleyes

Trump Derangement Syndrome

The left needs to get over it. Trump won and he's here for a while yet.

Meanwhile they need to formulate some viable policies because just hating Trump isn't a policy platform, and they need to find a viable presidential candidate.

LOL.  Now that is rich humor, coming from the Clinton Derangement Syndrome expert.

[Image: hilary.jpg?auto=compress,enhance,format&...=620&h=413]
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#8
Nah! She's the one with the problem. A bit like the Obamas. They had their day. History.

Focus on the future - who is a sane and viable candidate in the Democrat camp?
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#9
(05-23-2018, 04:27 AM)andrew_o Wrote: Focus on the future - who is a sane and viable candidate in the Democrat camp?

Shirley U. Jest.






da bear
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#10
(05-23-2018, 11:40 PM)da bear Wrote:
(05-23-2018, 04:27 AM)andrew_o Wrote: Focus on the future - who is a sane and viable candidate in the Democrat camp?

Shirley U. Jest.






da bear

How much worse can it get ?

[Image: trumpshorts.jpg]
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