Expert: Trump Organization Cost Banks Over $168M

    Photo: Wikimedia Commons

    The Facts

    • Michiel McCarty, a banking expert, Wednesday testified that former Pres. Donald Trump and his company cost banks more than $168M by obtaining favorable loan terms on lending that Trump guaranteed personally.

    • McCarty, chairman and CEO at the investment bank MM Dillon & Co., said his lost interest calculations applied to four Trump Organization assets — 40 Wall St. in New York, Trump’s Chicago hotel, the hotel at the Old Post Office in Washington, DC, and Trump’s Doral, Florida golf course.

    The Spin

    Pro-Trump narrative

    This case is part of an ongoing witch hunt brought by a Democratic prosecutor to a Democratic judge in a Democratic city. There’s no way Trump can get a fair trial, especially considering in 2018 James ran for the Attorney General's office on promises she would punish Trump. This is nothing but an attempt to derail Trump’s bid to return to the White House.

    Anti-Trump narrative

    Trump and his lawyers can make up all the excuses they want, but this case is going to be the end of his empire. The Trump Organization committed widespread fraud, and now the former president is going to pay the price he always feared — he’s going to lose a vast fortune and prestige.

    Establishment split



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