Trump's DC hotel lost more than $73 million while he was president

Fresno CA

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Donald Trump lost more than $73 million on his luxury D.C. hotel even while claiming multi-million profits on his disclosure forms, the House Oversight Panel says after reviewing government documents. The hotel, which the Trump Organization refurbished and leases from the federal government, was a fixture of Trump's 2016 presidential campaign and became a hub of activity for supporters during his administration. But far from being a revenue-generator, it was a 'failing business saddled by debt,' according to a letter the Democratic-run Oversight panel wrote to the General Services Administration, known as the nation's landlord. Taken together, these documents show that far from being a successful investment, the Trump Hotel was a failing business saddled by debt that required bailouts from President Trump’s other businesses,' panel chair Rep. Carolyn Maloney (D-N.Y.) wrote. 'In deciding to conceal the Trump Hotel’s true financial condition from federal ethics officials and the American public, President Trump hid conflicts of interest stemming not just from his ownership of the hotel but also from his roles as the hotel’s lender and the guarantor of its third-party loans.' The panel found that Trump 'provided misleading information about the financial situation of the Trump Hotel in his annual financial disclosures; received undisclosed preferential treatment from a foreign bank on a $170 million loan to the hotel that the President personally guaranteed; accepted millions of dollars in emoluments from foreign governments without providing an accounting of the money’s source or purpose; concealed hundreds of millions of dollars in debts from GSA when bidding on the Old Post Office Building lease; and made it impossible for GSA to properly enforce the lease’s conflict-of-interest restrictions by engaging in opaque transactions with other affiliated entities,' according to the letter. (I told you he's a crook. But, you know that. Yet you support a crook. And you want a crook to run this country again? C'mon, you're not stupid. You know this man is carrying a lot of baggage yet you continue to support him. What do you think Trump can do for you? I'm surprised he made it through the first term.)