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Probably not. I didn't read the Yella Cake story about The Tax filings, but secondary commentary left with me the distinct impression, Yella Cake offered no distinction between personal (DJT) and corporate (The Trump Organiztion) obligations--not to mention tax avoidance and evasion.

As implied even in this thread, $400M likely represents mortgage balance of TTO RE portfolio. This amount is a negligible proportion of total liability (imputed debt service notwithstanding) against total assets value (disputed by Michael Cohen) by comparison to similarly situated publicly-traded or privately-held transnational RE firms. Take Cushman & Wakefield for example, formerly run by PE groups: 2019 10-K position -- total liabilities $5.8B, total debt $2.6B, total assets $7.1B.

Which goes to show, yet again, the prurient appetites of the US American public for displays of moral turpitude (eg. losses, treason, sexual deviance) instead of reckoning with the principles of moral rectitude (eg. equity, profit, capital accumulation) they supposedly admire and innocently emulate.

It would be satisfying to me, if this belated PROBE led by SDNY concluded with an indictment of either DJT or TTO or the bookkeepers, but I'm sure now more than ever this was never the objective. Too many jobs in www organized crime hang in the balance.

by Cat on Tue Oct 20th, 2020 at 02:31:12 PM EST
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