Donald Trump’s debt is getting way out of hand. A new report reveals shocking news that should terrify every American.
According to a new study from Wall Street Journal, the president-elect Donald Trump’s companies are roughly $1.8 billion in debt to more than 150 institutions, thus raising fresh questions about potential conflicts of interests when the self-proclaimed billionaire takes office at the end of the month.
The daunting new evidence explains the extent to which the Republican will soon be responsible for regulating many of the institutions he owes sizeable amounts of money to.
As of right now, Donald Trump owes $315 million (£254 million) of debt to ten different lenders. Some of these debts have Trump’s personal guarantee behind them, meaning he would be personally” liable if his company defaulted on any loans,” according to WSJ. That’s a serious red flag as far as potential conflicts of interest and this may cause problems for our nation. The report notes:
“Financial institutions could potentially hold undue power over Trump if he defaults.”
Let’s not mention one of the most terrifying parts: Deutsche Bank has loaned the most to Trump’s real estate properties. Yes, the same bank that is currently under investigation by the Justice Department for dealings with wealthy (also slightly sketchy) Russian clients. What a shocker…
Nevertheless, Trump was suppose to have a press conference in December to discuss his plan to step away from his business ties, but the businessman was too busy tweeting his feelings away to attend so initially, it was postponed. Who knows if we will ever know the truth behind Trump’s corrupted business handlings, but one thing is certain–he will create more harm than good with them.
Featured Image courtesy of Getty Images