Former banker and commercial lender here. I’ve always suspected that Trump was either upside down on his aggregate real estate holdings, or nearly so. Now, if this summary judgment stands and his business entities are dissolved and his real estate liquidated, well… this was probably Trump’s worst nightmare before he went on his felony crimin’ spree and actually got called on the carpet over it. Revealed as a terrible businessman.
He will be exposed as VASTLY less wealthy than he’s always claimed. If I were a wagering person, I’d take even odds that when the sale of all Trumpland owned properties affected by this decision are done, the creditors with loans outstanding to Trump entities will take losses. Probably big losses. Again, BECAUSE HE INFLATED HIS ASSET VALUES SO HE COULD BORROW MORE AND MORE. He even bragged about his use of debt in some interview or in one of his shitty books.
His LACK of wealth and his POOR business decisions will expose him for what he is — a person born into wealth, who failed time after time in his OWN business efforts, and was magically propped up by infusions of cash from very suspicious sources (among other schemes, I’m looking at the popularity of multi-million dollar condo/aparment purchases by foreign folks connected to other foreign folks who just maybe were interested in making dirty money clean — all obfuscated by piss poor transparency around LLC’s and who actually owns them). I kind of doubt that sort of money will be magically falling from the sky for him now...
Will the TrumpCult care that their Cheeto Messiah never was the business great he told them he was? Who cares. Reap the whirlwind, Trumpy!
