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The original story’s headline was “Trump owes tens of millions to Bank of China.” Now it is “Trump owed tens of millions to Bank of China.” But that claim is still wrong. Trump never owed tens of millions to Bank of China, as Breitbart News reported Friday. The subhead is” The president’s financial dealings with the state-owned bank complicate his attacks on Biden,” another false claim that remains in the story.
The Washington, DC, based media company falsely reported Friday that Trump owes millions to the Bank of China for a loan financing a building located at 1290 Avenue of the Americas. The story said that the president would have to pay tens of millions of dollars to the state-controlled banks because the loan was coming due shortly, a situation which it described as “unprecedented.”
Breitbart News reported Friday that the story was wrong. President Trump is not the debtor and Bank of China is not the creditor on the loan to 1290 Avenue of the Americas. Trump is the minority partner in a real estate deal that owns the building, had nothing to do with arranging the loans, and is not liable for their repayment. Bank of China was one of a consortium of lenders in 2012 that provided $950 million but sold its interest days later when the loan was repackaged into bonds for investors.
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That part has not yet been corrected, although it too is false. “The president’s financial dealings with the state-owned bank complicate his attacks on Biden,” the story still says. But Trump did not have financial dealings with the state-owned bank. He was a passive holder of limited partnership shares in a real estate trust managed by Vornado Realty, one of the biggest commercial real estate investors in the U.S.
The headline on the story claimes “Trump owed tens of millions to Bank of China.” That is also false. Trump never owed money to China, the Vornado controlled trust did. And China’s interest in the loans was extinguished in a matter of days, eight years ago.
The story also fails to convey the critical fact that Bank of China is one of the largest foreign investors in commercial real estate in the U.S., making its participation in the financing of 1290 Avenue of the Americas far from unusual. The deal was the first time a loan with a Chinese lender participating was securitized, meaning packaged into a mortgage-backed security and sold to investors.
https://en.wikipedia.org/wiki/Alternative_media_(U.S._political_right)
https://en.wikipedia.org/wiki/Alternative_media_(U.S._political_right)
FuckTheMainstreamMedia saysWhat alt right media?
left cant meme, so they copy.
:
I also believe that 12 million illegals tried to manipulate the election in favor of Hillary.
Is Trump really that brilliant that he can hide something supposedly so large so incredibly well, or is there really nothing there?
How many people in their 30's had these strokes?
Two?
Are you saying I'm wrong and that the 12 million illegals were for Trump
Misc saysAre you saying I'm wrong and that the 12 million illegals were for Trump
I'm saying the number of illegals that voted , was far closer to 12 than 12 million, period. And that there is zero real data to support the assertion that millions let alone 12 million illegals voted. And that Trumps committee to investigate election fraud was an abject failure and a farce and withered on the vine to look like his testicles. And that the justice dept under Simpleton Sessions and Butt licker Barr have not produced much of anything regarding Democratic election fraud, though the Republicans in NC for sure tried it and were caught.
They tried to sway the election
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