Sunday, September 18, 2016

I Had Zero Borrowings From My Dad's Estate... I Give You My Word

Which kind of shows you what his word is worth.

"Who among us hasn’t needed a $9 million loan from dad every once in a while?"

By way of comparison, my Dad loves to tell me his belief that leaving your money to your kids shouldn't be automatic.

In other news, the NY Times is back in the journalism. Here's the proof:

"My lawyers want to sue the failing @nytimes so badly for irresponsible intent. I said no (for now), but they are watching. Really disgusting."

That is when you know you're doing your job properly. What set Trump off is the Times actually vetting him. They are doing investigative journalism rather than simply saying 'We asked, Trump won't release his tax returns, by the way Hillary's email server sure was an outrage.'

"A Trump Empire Built on Inside Connections and $885 Million in Tax Breaks."

"The way Donald J. Trump tells it, his first solo project as a real estate developer, the conversion of a faded railroad hotel on 42nd Street into the sleek, 30-story Grand Hyatt, was a triumph from the very beginning."

The hotel, Mr. Trump bragged in “Trump: The Art of the Deal,” his 1987 best seller, “was a hit from the first day. Gross operating profits now exceed $30 million a year.”

"But that book, and numerous interviews over the years, make little mention of a crucial factor in getting the hotel built: an extraordinary 40-year tax break that has cost New York City $360 million to date in forgiven, or uncollected, taxes, with four years still to run, on a property that cost only $120 million to build in 1980."

"The project set the pattern for Mr. Trump’s New York career: He used his father’s, and, later, his own, extensive political connections, and relied on a huge amount of assistance from the government and taxpayers in the form of tax breaks, grants and incentives to benefit the 15 buildings at the core of his Manhattan real estate empire."

"Since then, Mr. Trump has reaped at least $885 million in tax breaks, grants and other subsidies for luxury apartments, hotels and office buildings in New York, according to city tax, housing and finance records. The subsidies helped him lower his own costs and sell apartments at higher prices because of their reduced taxes."

He also wrongly took all sorts of 9/11 tax breaks

"NBC is also taking a deeper dive into Trump's myriad conflicts of interest post Kurt Eichenwald's big Newsweek piece. "

"If Donald Trump wins the election in November, he'll be the most conflict-of-interest-prone president in modern history thanks to the sprawling business empire he's built over the last several decades. He controls more than 500 companies across many industries."

"The Republican has said if he's elected to the nation's highest office, he'll hand the reins of his businesses to his children and not "discuss it with them." And in the wake of a new Newsweek report raising questions of potential conflicts of interests with international dealings, Trump declared he would "absolutely get out in some form" if there were sanctions placed on countries where the Trump Organization operates."

"Hillary Clinton's campaign has called on Trump to go further and divest from the entire Trump Organization should he become commander in chief. Mitt Romney had vowed to place his massive fortune in a blind trust were he elected. But it's different for Trump — there's nothing "blind" about the vast business empire Trump has built. He's seen it all."

Off topic. Regarding the explosion in NYC, Trump predictably got ahead of himself immediately.

"Explosions are not the same thing as bombs. At the time Trump made his claim, no confirmation of a bomb."

By the way, the issue is not whether or not this proves to be true. The issue is that a President can't get ahead of the facts and offer his own speculations whether or not these later prove accurate.

We expect nothing more from Trump, of course.
But the media needs to do better.

"You know this election needs to end when a bomb explodes in NYC, little is known & all @cnn talking about is how the candidates responded."

This is one of the true bane of postmodern reporting; I use the word postmodern quite deliberately and aware of how pejorative it is in connection with journalism.

What i'm referring to is  second order reporting where the media goes right from what just happened, the truth or falseness-to 'So how will it help/hurt Hillary/Trump?'

When a tragedy like last night in NYC-close to home for me; I live on Long Island-the media should hold off on, before even all the facts are in and verified, putting on the campaign hat and offering their own-totally uniformed-speculations on how it will help/hurt Hillary/Trump.

Then the only story becomes what the media's preferred narrative on how the tragedy effects the horse race.

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