Yet another bombshell NYT story is out and this one is no less damning than the last. In the Times latest story, several reporters spent their time digging deep into Trump ‘s origins and the myth that soon followed the 2004 debut of NBC ‘s The Apprentice. At the time of the show, Trump used said show and the finances that came from it in what the Times calls as an “avenue that led to the con today.”
Where did the problems start?
They started quick and ballooned from there.
The problem with the Apprentice debut spans a variety of areas of Trump ‘s own life. The year before the windfall came Trump reported upwards of $89m in losses but never disclosed that to the public or to his lenders. The following year, Trump received upwards of $200m in direct compensation from his time with the show (plus even more from endorsements and so on.)
And then came the golf courses…
But even with what The Times calls a much needed lifeline, Trump still managed to squander much of that money. By 2006, Trump had began using much of his fortune to buy his then and even now failing golf courses. At the time of those initial purchases, Trump was then reportedly forced to take out $100m in equity cash against his Trump Tower in New York City. That equity gamble took a hit on not only his finances but his jarring reputation with lenders in New York City and even beyond.
Of course, the White House maintains that the story is a smear campaign although it appears to match up with previously published claims about Trump ‘s inaccurate claims to billionaire status. (Read the full story here.)
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