Turns Out Trump Owes Tens Of Millions To The Bank Of China, Because ... Hunter Biden?
It's no surprise that President Bigly Yuuuge Brain can't do secondary order thinking. This is a guy who has barely mastered object permanence and thinks you can cure coronavirus by swallowing bleach. But did no one on the campaign think that Trump's own financial entanglements with China might come out when they built their strategy around Biden'n'China Sittin' In a Tree K-I-S-S-I-N-G?
Politico reports this morning that Trump owes tens of millions of dollars to the Bank of China in a note that comes due in November of 2022, which would be smack in the middle of his second term. (God forbid!) Because OF COURSE Trump's going to go out and scream lunatic nonsense about how "China will own the United States" if Biden is elected, when actually China owns Trump's own flabby ass.
The 10-year note originated in 2012, when Trump's partner Vornado Realty Trust borrowed $950 million from the Bank of China to refinance the debt on 1290 Avenue of the Americas in New York, one of the jewels in the Trump Organization's portfolio. Trump owns a 30 percent stake in the building, which its website describes as "one of the New York City's most distinguished office buildings in midtown." That 30 percent means that he's been paying down a $285,000,000 note to the Chinese state-owned bank for the past eight years. No wonder he always walks back criticism of Xi Jinping immediately after promising to get tough on China!
If anyone wants to spend their Friday running an amortization table to calculate the outstanding debt at 3.34 percent interest, knock yourself out! But whatever the exact figure, we're talking about tens of millions of dollars Trump owes to his good buddy Xi, at a moment when The Trump Organization is begging for debt abatement from private lenders at Deutsche Bank, rent abatement from the US government, and bagpipe subsidies from the governments of Ireland and Scotland. So what are the odds that he plans to continue paying China as the world's economy goes into a pandemic-induced tailspin?
This is a guy who tried to get out of paying back a $40 million loan in 2008 by suing Deutsche Bank for $3 billion, on the theory that the housing crisis was both an act of God and Deutsche Bank's own fault. He's stiffed everyone he ever did business with, why should China be different? Particularly now that Donald Trump is desperate to blame someone — anyone — for his own miserable failure to take steps to prevent the coronavirus killing 50,000 Americans (as of today).
Because this tweet actually happened.
As did Donald Trump's "Chocolate Cake" Summit with Xi Jinping at his private club Mar-a-Lago.
Unlike whatever nonsense Trump and Rudy Giuliani keep derping about Hunter Biden getting $1.5 billion from China. Which, unequivocally, DID NOT HAPPEN. Although, as Politico points out, the Trumpland wingers howling about Bank of China's alleged role in Hunter Biden's deal while Trump literally took $285,000,000 from the state-owned institution is, as they say, chef's kiss.
Accuse the other side of that which you are guilty. Third verse, same as the first.
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Liz Dye lives in Baltimore with her wonderful husband and a houseful of teenagers. When she isn't being mad about a thing on the internet, she's hiding in plain sight in the carpool line. She's the one wearing yoga pants glaring at her phone.