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this post was submitted on 08 Mar 2024
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I wonder what kind of insane terms are on that loan
Not that it would matter. Trump doesn’t honor agreements.
Exactly. So what kind of terms would it take for someone to loan nearly 100m to someone like that?
Well, not financially anyway. Maybe a promise for a future political favor if he wins? Not that I'd accuse a Swiss financial interest of working with fascists...
I think he probably put up a building or two as collateral, kind of like a HELOC. If it's not paid back, they repo the building(s).
I hope they got their own appraiser, because the Trump org is infamous for making up numbers. Better check the paperwork at city hall, too, to make sure there are no undisclosed mortgages, leans, or easements on the property.
An institution capable of making risky loans of substantial size certainly should have high quality risk and valuation assessment capabilities.
I imagine it's fairly standard boilerplate for the situation 'You must install corporate fascism and give me a job with medals and stuff if we manage to lie and cheat you into power again'