Fact Checking Trump Financial Points

I could really use some help on this matter. There probably is no way I can ask this without sparking a huge rant fest debate, but I am just looking for facts. I am Canadian and have been debating matters of impeachment with a friend of mine who has a history of working in finances. I've shot down many of his points for impeachment but there are a few which I can't. These are points to do with finaces, and as I do not trust the mainstream media (esp. where it concerns Trump) I have no idea where to fact check his claims.


His claims are: 1.Trump has intentionally bankrupted his companies to wipe debts free. 2. He was supported through bankruptsy by a Russian bank owned by Putin. 3. He has passed bills which allow banks to loan greater sums, thus creating a 'false' economic boom. 4. He has passed laws whereby products say 'Made in America' when, if you check the product number, they were actually made in China, etc.


I am only interested in attempting to fact check these specific claims. Any credible non-partisan sources would be appreciated.

a reply to: LoneCloudHopper2

It's not out of the ordinary to file bankruptcy if you see no future left for your business. Out of over 100 businesses, Trump filed for bankruptcy on about 4. It's just a business decision to keep from going under. I've had to file (2004) so I didn't end up in tons of debt. If a bill was passed to allow banks to make higher loans, that would help the economy so I'm not sure how it could be a false economic boom, however, I'm not sure about that.

On the rest of your questions, I find it hard to believe that we'll be able to find any hard evidence to prove or disprove any of it. These are the times where you push them to the back of the line after you see what all he's done for this country, seeing that none of it is illegal.

I know you're here to seek answers and I didn't really provide any, so I apologize for that, but I did my best to help you a little.

I just want the President to keep our country running in the right direction. I don’t care about his personal business or personality. I am grateful for having someone put America and American citizens first for a change.

a reply to: LoneCloudHopper2

This may be what number 3 is referring to:

www.cnbc.com...

It doesn't seem that nefarious to me, honestly. AFAIK it didn't raise the amount of loans banks could give, but it did lower the threshold over which a bank is considered "to big to fail" in the event of an economic disaster, thus smaller lending institutions could compete with the mega-banks on big loans like mortgages with lesser risk. Good move, if you ask me, getting more capitol out into the economy. I mean if we're stuck with fiat currency and fractional reserve we might as well take advantage of the best parts of it. The bill was passed with bi-partisan support.

originally posted by: Metallicus
I just want the President to keep our country running in the right direction. I don’t care about his personal business or personality. I am grateful for having someone put America and American citizens first for a change.

Yep, this ^^^^^

This might be regarding 4:

www.wsj.com...

In the September ruling, FTC Commissioner Rohit Chopra argued in a dissenting opinion that the three companies should have been forced to pay.

“In cases involving egregious and undisputed Made-in-USA fraud, I believe there should be a strong presumption against simple cease-and-desist orders,” Mr. Chopra wrote. He said the commission should require more painful remedies such as a payments equal to their ill-gotten gains, consumer refunds or admissions of wrongdoing.

“Every firm needs to understand that products labeled ‘Made in USA’ should be made in the USA, and that fake branding will come with real consequences,” Mr. Chopra wrote.

The prevailing commissioners explained their decision by saying that the relatively small number of second violations shows that the current system has served as a deterrent.

ETA: So I can't find any legislation that he signed into law, nor any executive orders, that would undercut the FTC on the "Made in America" designation. I found lots of stuff indicating he's made it so the US Government must buy MORE American goods, and that American-made goods need to be composed of a greater constituency of American-made components.

apnews.com...
www.upi.com...

Maybe your friend could provide a reference for us to look at on his claim?

He deals in real estate and entertainment, two of the most volatile industries. If he did not lose his ass off sometimes that would be more disturbing. Some years are way up, some way way down. How it goes.

If it's such a big deal, go ask your friend why nobody is bashing Marianne Deborah Williamson who filed for PERSONAL BANKRUPTCY, not corp like Trump. That means she can't manage her own personal finances yet silence.

originally posted by: LoneCloudHopper2
I could really use some help on this matter. There probably is no way I can ask this without sparking a huge rant fest debate, but I am just looking for facts. I am Canadian and have been debating matters of impeachment with a friend of mine who has a history of working in finances. I've shot down many of his points for impeachment but there are a few which I can't. These are points to do with finaces, and as I do not trust the mainstream media (esp. where it concerns Trump) I have no idea where to fact check his claims.


His claims are: 1.Trump has intentionally bankrupted his companies to wipe debts free. 2. He was supported through bankruptsy by a Russian bank owned by Putin. 3. He has passed bills which allow banks to loan greater sums, thus creating a 'false' economic boom. 4. He has passed laws whereby products say 'Made in America' when, if you check the product number, they were actually made in China, etc.


I am only interested in attempting to fact check these specific claims. Any credible non-partisan sources would be appreciated.

Yes, Trump did file bankruptcy with his casinos. You know the main reason this happened - because it is never reported - Indian Casinos were legalized. Before this happened gambling was only allowed in Nevada and Atlantic City. This unanticipated event screwed him because the number of customers anticipated never materialized.

2,3,and 4 sound like complete BS. If any of that was true you could damn well bet the media would be running with them, and I haven't heard any of those before.

Thank you all for your input. It's difficult to varify much of anything these days, in regards to political issues.


a reply to: Zelun

Thanks for the sources. I guess it depends on one's view how insidious it was. I know this happens a lot in business. Some people may respect that more than others.