Headline Reaction

Wherein I revive an old blogging bit...

Headline: Via the AP, How Trump plowed through $1 billion, losing cash advantage.

Reaction: A guy who has filed multiple bankruptcies and is reported to be almost half a billion in personal debt is bad at managing money?

I. Am. Shocked.

FILED UNDER: General
Steven L. Taylor
About Steven L. Taylor
Steven L. Taylor is a Professor of Political Science and a College of Arts and Sciences Dean. His main areas of expertise include parties, elections, and the institutional design of democracies. His most recent book is the co-authored A Different Democracy: American Government in a 31-Country Perspective. He earned his Ph.D. from the University of Texas and his BA from the University of California, Irvine. He has been blogging since 2003 (originally at the now defunct Poliblog). Follow Steven on Twitter

Comments

  1. OzarkHillbilly says:
  2. Crusty Dem says:

    To be fair, he’s bad at everything except garnering attention..

    8
  3. CSK says:

    Nothing, absolutely nothing, says “I am an astute money manager” like spending 10 million dollars on a Superbowl ad when you have no competitor.

    This just goes to prove–as if we needed further proof–that Trump’s raison d’etre is seeing himself on television.

    5
  4. Kathy says:

    I’d be shocked to learn Donnie hasn’t embezzled any campaign money for himself. Past the “payments to Trump properties” which are a kind fo legal embezzlement.

    7
  5. Sleeping Dog says:

    Shocked

    Said Dr T, doing his best Claude Rains imitation

    1
  6. MarkedMan says:

    Earlier in the year when some were concerned about how much money Trump was raising I wasn’t sweating, because I figured most of it would go to waste. Some due to mismanagement, but a lot more due to siphoning it off. It looks like both are happening, right on schedule.

    3
  7. Sleeping Dog says:

    @Kathy:
    @MarkedMan:

    Yes, it would be interesting to see an audit of his campaign financing and see how much went into his pockets. Maybe then the cult…never mind, it won’t make any difference to them.

    3
  8. JohnMcC says:

    From the linked article: “Meanwhile, a web of limited-liability companies hid more that $310 million from disclosure…” And a quote from Mike Murphy the R-party professional: “You could literally have 10 monkeys go after the money with flamethrowers and they wouldn’t have gone through it so stupidly.”

    Just had to treat myself by typing those out.

    4
  9. gVOR08 says:

    Forbes says a billion.

    1
  10. Kurtz says:

    @CSK:

    I seem to recall reading that when Trump bought The Plaza, he paid more than the seller’s initial ask. I guess they put out feelers quietly, and when they heard Trump was interested, they increased the price. And he paid it.

    If my memory is correct, it kind of makes sense. Trump values the raw numbers of a deal rather than the potential value of the purchase, and he ends up on the raw end of the final agreement.

    I’ll try to find the cite later.

    1
  11. CSK says:

    @Kurtz:
    I seem to recall reading something similar. Trump paid 407 million for the Plaza in 1988. He ended up selling it for an 83 million dollar loss in 1995.

    3
  12. Pete S says:

    I vaguely recall an old Mad Magazine bit that wen to the effect of “politics is the process where we take someone who spends $100 million to win a job that pays $200000 and put them in charge of the public purse”. Trump as usual sees a joke and thinks it is a plan.

    2
  13. A simple test for Trumpidians who assert that he’s a great businessman: Ask them for yesterday’s closing quote for the Trump Organization on the NYSE and see how many of them actually come up with the correct answer.

  14. grumpy realist says:

    @CSK: Ditto for the Eastern Shuttle, which Trump bought at a wildly overinflated price then proceeded to run it into the ground…..

    (Of course, this is the idiot who wanted marble sinks installed in the airplanes. We’re not talking cooking with all braincells here.)

    1
  15. CSK says:

    @grumpy realist:
    He also wanted gold fixtures in the bathroom sinks.

    I’m still angry that he wrecked the Eastern Shuttle. It was great: buy your ticket, hop aboard at Logan, and get off at LaGuardia or D.C. 40 minutes later. If one plane was full, they rolled out another. Thirty-five bucks one way.

    Damn.

    2
  16. Teve says:

    @grumpy realist: @CSK: I forget who it is, but one of the commenters here is fond of saying something like, paraphrasing, ‘the fundamental thing to keep in mind about Donald Trump is that he is a moron’

    1
  17. An Interested Party says:

    Despite numerous pieces of information like this, over 60 million people voted for this numbnuts to hold the most powerful position in the world in 2016 and will do so again this year…I realize the power of partisanship, but good grief…

    1
  18. Mister Bluster says:

    @Teve:..one of the commenters here…

    Whoever it is they are in good company.

    When I first posted this link I could see the entire article. Now it is behind a pay wall.

  19. Teve says:

    @Mister Bluster: not paywalled for me:

    John Kelly may not have joined the elite club of former White House chiefs of staff yet, but this week he joined another exclusive group: Donald Trump’s close confidantes who reportedly insult him behind his back.

    Trump’s known for his insults—on Twitter alone, the president had insulted 446 people, places, and things as of April 30—but he gets his share, too. Not just from political adversaries, but from employees, friends, and allies, if news reports detailing discontent in Trump’s inner circle are to be believed. Quartz took a look at the most prominent examples:

    “A supreme sexist.”—Barbara Res, former executive vice-president of Trump Organization, who also said “he thinks he’s God.”
    “Like an 11-year-old child”— Steve Bannon. The now estranged advisor also allegedly complained that he was “sick of being a wet nurse to a 71-year-old man.”
    Working with Trump is “like trying to figure out what a child wants”—White House deputy chief of staff Katie Walsh
    “The White House has become an adult day care center”—Republican senator Bob Corker of Tennessee
    “Morally unfit to be president,” “unethical” and “untethered to truth”—former FBI director James Comey, who also compared the US president to a mafia boss.
    “Less a person than a collection of terrible traits”—Trump’s former chief economic adviser Gary Cohn.
    Someone who “sucks up and shits down”—former Fox News chief and confidant Roger Ailes.
    But Trump’s intelligence has been far and away the most popular target for his sometime allies.

  20. Teve says:

    Weird. It loaded the first time but when I went back to check something I hit the pay wall.

  21. Mister Bluster says:

    @Teve:..not paywalled for me:

    You’ve got the touch…

  22. CSK says:

    @Mister Bluster: @Teve:
    I loved it. I only wish it had been longer. Great start to the day, anyway.