One of the questions that former VP Joe Biden asked of corrupt demagogue and con man Donald "COVID Donnie" Trump at last week's debate was what was he was desperately hiding in his tax returns and financial papers. Trump's been blocking release of those records vigorously, spending perhaps millions in legal fees to keep them private. We know by reporting that he's a tax evader of major proportions, and that the self-identified "King of Debt" has loan payments coming due to the tune of over $400 million, at least.
The Washington Post's Pulitzer Prize-winning David Farenthold and his colleagues write:
"In the next four years, Trump faces payment deadlines for more than $400 million in loans — just as the pandemic robs his businesses of customers and income, according to a Washington Post analysis of Trump’s finances. The bills coming due include loans on his Chicago hotel, his D.C. hotel and his Doral resort, all hit by a double whammy: Trump’s political career slowed their business, then the pandemic ground it down much further."
From personal experience, people receiving security clearances know that debt is a red flag to investigators, along with drinking and gambling problems, because it places the clearance-seeker in a compromised position to a lender. The financial leverage or even blackmail that could be applied might prompt someone to trade valuable secrets in exchange. The article continues:
"If Trump is reelected, these loan-saddled properties could present a significant conflict of interest: The president will owe enormous sums to banks that his government regulates. National security experts say Trump’s debts to Deutsche Bank, a German company, and foreign deals may constitute security risks if they make him vulnerable to influence by foreign governments."
His relationship with Deutsche Bank, in particular, is huge problem. That bank has been widely known to have participated in money laundering with shady foreign operators, including Russian oligarchs and Saudi sheiks. As a result of being turned down by major U.S. lending institutions given his multiple bankruptcies, Trump has borrowed around $2 billion from Deutsche Bank over two decades.
The full story of Trump's financial indebtedness is evolving, and he'll likely run out the clock on disclosures before the election. But Biden's question leads to an obvious answer: Trump's hiding a lot, and it's not good.
