the Trump Organization millions of dollars , or one negotiating with foreign governments contributing millions to the Clinton Foundation . Story Continued Below Trump ’s empire includes over 500 business entities , with hotels , real estate and branding deals scattered across five continents .
Facing ruin , he met with his bankers , who had almost no recourse — they had been as reckless as Trump . By lending him billions — with loans for his real estate , his casinos , his airline and other businesses — they could fail if Trump went down . So the banks agreed to lendtransaction.transferownership.nahim tens of millions more in exchange for Trump temporarily ceding control over his multibillion - dollar empire and accepting a budget of $ 450,000 a month for personal expenditures . In August , New Jersey regulators prepared a report totaling Trump ’s debt at $ 3.4 billion , writing that “ a complete financial collapse of the Trump Organization was not out of the question . ” In September , Trump informed his bankers that he would not be paying the $ 1.1 million in interest due and asked that they defer $ 245 million of future loan payments .
Meanwhile , another Trump disaster was brewing . Eastern Air Lines , which had been struggling , put its northeastern air shuttle up for sale . Trump persuaded the banks to lendtransaction.transfermoney.borrowlendhim $ 380 million to purchase the route , and in June 1989 the Trump Shuttle began flying . Trump introduced the airline with his usual style — by insulting the competition . At an elegant event at Logan Airport in Boston , Trump took the stage and suggested that the other airline with a northeastern shuttle , Pan Am , flew unsafe planes .
STEIN : So let me speak to that . Yes , and there ’s another major policy program that you may want to talk about here , and that is the proposal that we bail out a generation of young people who are held hostage by student debt . This is $ 1.3 trillion and the broad brushstroke there is that we managed to come up with a whole lot of money for Wall Street , which Congress learned , when the audit was actually done and the reporting by the Fed , that “ Oh my God , you managed to come up with $ 17 trillion or $ 16 trillion of near - zero interest or free money in order to bail out Wall Street . ” Wall Street has the unique ability to turn around and quickly lendtransaction.transfermoney.borrowlendthat low interest money for seven percent and recoup it , so Wall Street was able to pay much of that back , we know , but the point remains that if we can bail out the crooks who crashed the economy through waste , fraud and abuse and predatory lending and unethical bundling of extremely insecure financial packages – if we can find a way to bail them out to the tune of a whole lot of trillions , we can find a way to bail out a whole generation that has basically been thrown under the bus and does not have a future , that arguably does n’t have a way out . HIATT : And why do you include upper - income people in there ? STEIN : Well , for one thing , we know that higher education pays for itself .
Japanese banks have shown some public concern on lending on weapons , as indicated in a ban by Bank of Tokyo - Mitsubishi UFJ on lending to builders of cluster bombs , but there is greater pressure on European lenders . “ European banks are under tight regulatory control on credit risk and deeper scrutiny under corporate social responsibility , ” Audrand said . That may have made it hard for French banks to lendtransaction.transfermoney.borrowlendto Qatar for the Rafale as there is geopolitical risk , with tension rising with Iran and the Islamic State , he said . US banks were unlikely to have funded the Qatari order as that would likely displease Boeing , a competitor to Dassault in the fighter market , the financial specialist said . Qatar seeks acquisition of 73 F-15E Strike Eagle fighters , with 36 in a first tranche , US Senate Foreign Relations Chairman Bob Corker has said .
Facebook Twitter Pinterest Xavier and Laura Justo . Photograph : Javier Justo for the Guardian Between September 2010 and May 2011 , 1MDB agreed to lendtransaction.transferownership.naan additional $ 830 m to the joint venture with PetroSaudi – bringing 1MDB ’s total investment to $ 1.83bn . Of these new payments , US officials allege , $ 330 m was paid into the Swiss account they say was controlled by Low , on the basis of a request by Obaid – who is identified in the US legal complaint as “ PetroSaudi CEO ” . Emails and bank records seen by the Guardian suggest that in the nine months from September 2010 , Obaid transferred $ 77 m from his Swiss JP Morgan account to his PetroSaudi co - founder , Prince Turki bin Abdullah .
Facing ruin , he met with his bankers , who had almost no recourse — they had been as reckless as Trump . By lending him billions — with loans for his real estate , his casinos , his airline and other businesses — they could fail if Trump went down . So the banks agreed to lendtransaction.transfermoney.borrowlendhim tens of millions more in exchange for Trump temporarily ceding control over his multibillion - dollar empire and accepting a budget of $ 450,000 a month for personal expenditures . In August , New Jersey regulators prepared a report totaling Trump ’s debt at $ 3.4 billion , writing that “ a complete financial collapse of the Trump Organization was not out of the question . ” In September , Trump informed his bankers that he would not be paying the $ 1.1 million in interest due and asked that they defer $ 245 million of future loan payments .
Facebook Twitter Pinterest Xavier and Laura Justo . Photograph : Javier Justo for the Guardian Between September 2010 and May 2011 , 1MDB agreed to lendtransaction.transfermoney.borrowlendan additional $ 830 m to the joint venture with PetroSaudi – bringing 1MDB ’s total investment to $ 1.83bn . Of these new payments , US officials allege , $ 330 m was paid into the Swiss account they say was controlled by Low , on the basis of a request by Obaid – who is identified in the US legal complaint as “ PetroSaudi CEO ” . Emails and bank records seen by the Guardian suggest that in the nine months from September 2010 , Obaid transferred $ 77 m from his Swiss JP Morgan account to his PetroSaudi co - founder , Prince Turki bin Abdullah .
Things grew worse in 1979 , when he reported an income of negative $ 3.4 million , $ 11.2 million in constant dollars . All of this traced back to big losses in three real estate partnerships and interest he owed Chase . With Trump sucking wind and rapidly drawing down his line of credit , he turned again to Daddy , who in 1980 agreed to lendtransaction.transfermoney.nahim $ 7.5 million . All of these names and numbers can grow confusing for voters with little exposure to the business world . So to sum it all up , Trump is rich because he was born rich — and without his father repeatedly bailing him out , he would have likely filed for personal bankruptcy before he was 35 .
( BEGIN VIDEO CLIP ) KHIZR KHAN , SON DIED IN IRAQ : Have you even read the United States Constitution ? I will -- I will gladly lendtransaction.transferownership.borrowlendyou my copy . TRUMP : He does n't know that . I saw him .
Then Khan , a lawyer , directly addressed Trump . “ Let me ask you : Have you even read the United States Constitution ? I will gladly lendtransaction.transferownership.borrowlendyou my copy . ” Khan waved a pocket - sized copy of the document in the air . In addition to attacking Khizr Khan , Trump also criticized Ghazala Khan , saying she was not permitted to speak at the convention because of her Islamic faith .
No matter who wins in November , the next president will bring enormous potential conflicts of interest to the Oval Office — and watchdogs say Hillary Clinton and Donald Trump are n’t planning to do nearly enough to remove themselves from the entanglements that come with the two global brands stamped with their names . Americans could see a leader regulating the same banks that lendtransaction.transferownership.borrowlendthe Trump Organization millions of dollars , or one negotiating with foreign governments contributing millions to the Clinton Foundation . Story Continued Below Trump ’s empire includes over 500 business entities , with hotels , real estate and branding deals scattered across five continents .
While calling it a difficult question , he appeared to condemn both leaders , saying " if someone is determined to drown you ca n't help them . " " I would say , you can not save someone who has decided to drown . But of course we are ready to lendtransaction.transfermoney.borrowlenda helping hand and friendship to any of our partners , if they want to take it , " he said , according to a transcript on the Kremlin 's website . Later , when probed about his personal life , he said he understood the interest but did n't want to broadcast the details , joking that he otherwise risked moving foreign exchange rates and oil prices . The call - in program comes ahead of elections for the Russian parliament Duma slated for September 18 .
Facebook Twitter Pinterest Xavier and Laura Justo . Photograph : Javier Justo for the Guardian Between September 2010 and May 2011 , 1MDB agreed to lendtransaction.transferownership.borrowlendan additional $ 830 m to the joint venture with PetroSaudi – bringing 1MDB ’s total investment to $ 1.83bn . Of these new payments , US officials allege , $ 330 m was paid into the Swiss account they say was controlled by Low , on the basis of a request by Obaid – who is identified in the US legal complaint as “ PetroSaudi CEO ” . Emails and bank records seen by the Guardian suggest that in the nine months from September 2010 , Obaid transferred $ 77 m from his Swiss JP Morgan account to his PetroSaudi co - founder , Prince Turki bin Abdullah .
Recently - installed Deutsche Bank chief executive John Cryan has set an ambitious target of resolving the lender 's biggest legal worries by the end of 2016 , including the US mortgage - backed securities case . Even once a deal has been reached , the bank will still have to face New York 's Department of Financial Services ( DFS ) regulator , which is investigating allegations of money laundering in Deutsche 's Russian arm . The German bank has already paid out $ 2.5 billion in the United States over manipulation of the Libor interest rate used by banks to lendtransaction.transfermoney.nato one another , and settled a dispute with the US Federal Reserve and the DFS , which accused it of violating bans on trading with Syria and Iran . As he fights legal challenges on multiple fronts , Cryan has also vowed to press through an ambitious restructuring of the lender , slashing 200 branches in Germany alone and 9,000 jobs worldwide . Deutsche Bank booked an almost 7.0-billion - euro loss in 2015 , and its May annual general meeting saw shareholders berate managers for their performance .