Nobody Makes Capitalism Look Worse…

I get much of my inspiration about life in the US from the New York Times. They seem to have the best reporting and columnists in the country. That’s why I pay the big bucks ($4/month) for their daily feed. 🙂

The title above came from an column from Gail Collins. It started out with following paragraph.

Department of Irony: Republicans can’t stop howling about socialism. But nobody makes capitalism look worse than Donald Trump.

I couldn’t have said it better. To the majority of international banks Trump is just persona non-grata. He has declared bankruptcy so many times (11) that they just don’t want anything to do with him. About the only bank in the world who will still give him loans is Deutsche Bank. Why is it that they still loan him money? The Mueller team is looking into that and I wouldn’t be surprised if they find something illegal about that. Cohen has already stated that he filed illegal reports to them as to his boss’ wealth.

At this point the bank did a review of Trump’s claim that he was worth about $3 billion and discovered it was more like $788 million…


The skyscraper got built, but nobody seemed to want to live there. Trump, who had personally guaranteed $40 million of the loan, then went to court, pointing to a clause in the contract that said he wouldn’t have to cough up the money in the event of a natural disaster. And what about the recession? Was that a natural disaster or what?


Onward. More loans from Deutsche Bank. Some of which he used to pay back … Deutsche Bank. Nobody seemed to think that was crazy.

So, what’s the problem here? Anat Admati, a professor at the Stanford Graduate School of Business, said she found it shocking that “a corporation the size and complexity of Deutsche Bank is so poorly governed.”

The bank, however, didn’t run for president on the basis of its financial genius. Trump did, and it worked so well he is now running around making speeches about reducing business regulatio
n.

Source: New York Times

I imagine there are many real capitalist around who hate the fact that the “proudly ignorant” voters out there consider his capitalistic traits make him worthy to be president. I suspect they are laughing and crying at the same time.