Real-estate developer Donald Trump in 1992 lived in a New York luxury apartment, travelled by limousine and had personal bodyguards. That year, he also reported a negative $US750 million ($1.08 billion) adjusted gross income to the IRS.

Trump is the primary “expense” that drains his companies dry to the state of Easter eggs “hollow” and all debt and then they simply implode. There is nothing new particularly when banks aren’t regulated. He gets loans from banks too scared to declare their over risk and  first valuing assets and packaging not on collateral security of the company but on a dream. He doesn’t do the financing himself but happily pays a premium for any broker or banker that will secure the loan on a 0% asset.

Get the money spend it as wages and expenses on himself  then devalue back to the real  asset assett value and bankruptcy or reveal the banking folly. Every banker shyster and broker will help avoid the worst if the commissions are high enough and more commissions. All he needed to hand his request to Wall St  and they’d jump. They after all they created the art and caused the GFC and sent nations to the wall like Greece.  Mind you, you the paid rating and credit agencies handsomly to assist in the scam but that wasn’t Trump’s problem. Effectively Trump was always the face of a scam, a Ponzi scheme, a chain letter a business that shared profits with the top end of town. There was never anything new to be seen just bigger. All a little bit legal but a top down scam that the nation bailed out.

Alan Bond said it if your looking for a small loan the banks own you.  When that loan is too big you own the banks because they can’t reveal it. The difference Bond went to jail aan Trump became President. (ODT)

‘Other people’s money’: Trump’s lifestyle while his businesses bled billions confuses tax experts