The Fed’s Quantitative Easing and Low Interest Rates Are Dangerous

The warning signs of an overheating economy are everywhere. Yet the Fed seems unable — or unwilling — to confront reality.

#biden-joseph-r-jr, #credit-and-debt, #federal-open-market-committee, #federal-reserve-system, #hubbard-r-glenn, #interest-rates, #powell-jerome-h, #quantitative-easing, #summers-lawrence-h, #treasury-department, #united-states-economy

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Federal PLUS College Loans Can Trap Parents in Debt

The popular parent PLUS loans are made without regard to the ability of borrowers to repay, and have fewer protections when they can’t.

#colleges-and-universities, #content-type-service, #credit-and-debt, #financial-aid-education, #personal-finances, #student-loans

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Banks Fight $4 Billion Debt Relief Plan for Black Farmers

Lenders are pressuring the Agriculture Department to give them more money, saying quick repayments will cut into profits.

#agriculture-and-farming, #agriculture-department, #american-bankers-assn, #american-rescue-plan-2021, #banking-and-financial-institutions, #biden-joseph-r-jr, #black-people, #compensation-for-damages-law, #credit-and-debt, #discrimination, #independent-community-bankers-of-america, #lobbying-and-lobbyists, #minorities, #national-rural-lenders-association, #race-and-ethnicity, #suits-and-litigation-civil, #united-states-economy, #united-states-politics-and-government, #vilsack-tom

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China’s Biggest ‘Bad Bank’ Tests Beijing’s Resolve on Financial Reform

Chinese regulators say they want to clean up the country’s financial system, but a state-owned conglomerate may ultimately get in the way.

#banking-and-financial-institutions, #china, #china-huarong-asset-management-co, #credit-and-debt, #economic-conditions-and-trends, #foreign-investments, #regulation-and-deregulation-of-industry, #stocks-and-bonds

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He’s a Dogecoin Millionaire. And He’s Not Selling.

Glauber Contessoto went looking for something that could change his fortunes overnight. He found it in a joke cryptocurrency.

#content-type-personal-profile, #contessoto-glauber, #credit-and-debt, #dogecoin-project, #gamestop-corporation, #reddit-inc, #social-media, #stocks-and-bonds, #virtual-currency

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As Trillions Flow Out the Door, Stimulus Oversight Faces Challenges

A sprawling system meant to police trillions of dollars is showing signs of strain as watchdogs warn of waste, fraud and abuse.

#american-rescue-plan-2021, #biden-joseph-r-jr, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-aid-us, #frauds-and-swindling, #government-accountability-office, #inspectors-general, #miller-brian-d, #office-of-management-and-budget-us, #small-business, #sperling-gene, #treasury-department, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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‘We Were Left With Nothing.’ Argentina’s Misery Deepens in the Pandemic.

The economy contracted by nearly 10 percent last year, and the country faces a reckoning with the I.M.F. over $45 billion in debts.

#argentina, #blackrock-inc, #coronavirus-2019-ncov, #credit-and-debt, #economic-conditions-and-trends, #fernandez-alberto-1959, #georgieva-kristalina-ivanova, #inflation-economics, #international-monetary-fund, #international-trade-and-world-market, #macri-mauricio, #politics-and-government, #poverty, #recession-and-depression, #united-states

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Rising Debt, Falling Income: How to Dig Out

More Americans over age 55 are carrying debt loads, and their nonmortgage debt grew significantly during the pandemic.

#content-type-service, #credit-and-debt, #credit-cards, #elderly, #finances, #personal-bankruptcies, #personal-finances, #quarantine-life-and-culture, #retirement

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Biden Sanctions on Russian Debt Called a ‘First Salvo’ That Send a Message

The curbs on U.S. banks’ purchases of some bonds apply to a small portion of the market but could signal a sharper aim at Russia’s access to global capital.

#banking-and-financial-institutions, #central-bank-of-russia, #credit-and-debt, #embargoes-and-sanctions, #politics-and-government, #united-states-international-relations, #united-states-politics-and-government

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How Debt and Climate Change Pose a ‘Systemic Risk to the Global Economy’

With dozens of countries struggling to manage both staggering debt and mounting climate disasters, some financial leaders are debating green debt relief.

#belize, #coast-erosion, #credit-and-debt, #credit-ratings-and-credit-rating-agencies, #disasters-and-emergencies, #drought, #fiji, #global-warming, #greenhouse-gas-emissions, #group-of-twenty, #hurricanes-and-tropical-storms, #international-monetary-fund, #mozambique, #third-world-and-developing-countries, #united-nations-framework-convention-on-climate-change, #world-bank

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Minority Entrepreneurs Struggled to Get Small-Business Relief Loans

A year after the Paycheck Protection Program started, studies show how its design hurt Black- and other minority-owned businesses.

#american-rescue-plan-2021, #banking-and-financial-institutions, #black-people, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #hispanic-americans, #income-inequality, #minorities, #paycheck-protection-program, #race-and-ethnicity, #small-business, #small-business-administration, #stimulus-economic

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China’s New Rules Worry Foreign Banks and Companies

New rules, aimed at taming big money flows and possibly controlling the Chinese currency, could give domestic rivals a competitive edge and make international firms more dependent on local lenders.

#banking-and-financial-institutions, #china, #credit-and-debt, #currency, #economic-conditions-and-trends, #foreign-investments, #international-relations, #international-trade-and-world-market, #politics-and-government, #regulation-and-deregulation-of-industry, #renminbi-currency, #stocks-and-bonds, #united-states-international-relations

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Biden Administration Ramps Up Debt Relief Program to Help Black Farmers

The initiative, which is being run through the Agriculture Department, is at the center of the White House’s racial equity agenda.

#agriculture-and-farming, #agriculture-department, #american-rescue-plan-2021, #biden-joseph-r-jr, #black-people, #credit-and-debt, #discrimination, #united-states-economy, #united-states-politics-and-government, #vilsack-tom

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Stock Rally Poses Question: When Does a Bull Become a Bubble?

The bull market, born out of the pandemic, has turned a year old. The remarkable turnaround has some analysts wondering if the breakneck pace is sustainable.

#banking-and-financial-institutions, #credit-and-debt, #federal-reserve-system, #standardpoors-500-stock-index, #stimulus-economic, #stocks-and-bonds

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The Financial Crisis the World Forgot

The Federal Reserve crossed red lines to rescue markets in March 2020. Is there enough momentum to fix the weaknesses the episode exposed?

#banking-and-financial-institutions, #coronavirus-2019-ncov, #credit-and-debt, #federal-reserve-bank-of-new-york, #federal-reserve-system, #government-bonds, #powell-jerome-h, #quantitative-easing, #regulation-and-deregulation-of-industry, #stocks-and-bonds, #united-states-economy, #united-states-politics-and-government

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Should Biden Cancel Student Debt?

It’s a trillion-dollar crisis that’s crippling the economy and dooming millions of college graduates. So what’s the fairest way to fix it?

#biden-joseph-r-jr, #colleges-and-universities, #credit-and-debt, #federal-state-relations-us, #student-loans, #united-states-economy, #urban-institute

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New York to Spend $65 Million to Rescue Cab Drivers. Is It Enough?

The city will use part of the money it expects to receive in the federal stimulus package to aid drivers who fell victim to exploitative loans.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #de-blasio-bill, #new-york-city, #stimulus-economic, #taxicabs-and-taxicab-drivers

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Investors Are Focused on Treasurys. Here’s What the Fed Could Do.

Central bankers have said they aren’t worried about a pop in longer-term bond yields. If they do become concerned, they have some options.

#banking-and-financial-institutions, #brainard-lael, #credit-and-debt, #federal-reserve-system, #inflation-economics, #interest-rates, #powell-jerome-h, #stocks-and-bonds, #united-states-economy

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Why Market Investors Are Now Troubled by Signs of Surging Growth

The markets are stressed at the prospect of an economic rebound, which is forcing investors to reassess their holdings.

#credit-and-debt, #federal-reserve-system, #government-bonds, #inflation-economics, #interest-rates, #powell-jerome-h, #standardpoors-500-stock-index, #stimulus-economic, #stocks-and-bonds, #treasury-department, #united-states, #united-states-economy

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Why a Recent Legal Decision May Upend Private Equity

A recent legal decision may force Wall Street to think twice before saddling struggling companies with debts they can’t handle.

#credit-and-debt, #jones-group-inc, #mergers-acquisitions-and-divestitures, #nine-west-group, #private-equity, #suits-and-litigation-civil, #sycamore-partners

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Private Equity Firms Are Piling On Debt to Pay Dividends

Dividend recaps, a kind of borrowing long condemned for loading up companies with debt for the benefit of their private equity owners, has surged.

#banking-and-financial-institutions, #blackstone-group-the, #credit-and-debt, #dividends-finance, #private-equity, #tpg-capital, #warren-elizabeth

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When the Bill Comes Due in Europe, ‘How Are We Going to Pay for All This?’

Pandemic aid has cushioned workers and businesses from a severe recession. But as governments face trillions in debt, there’s no rush to rein it in.

#coronavirus-2019-ncov, #credit-and-debt, #economic-conditions-and-trends, #europe, #france, #interest-rates, #le-maire-bruno, #recession-and-depression, #stimulus-economic

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The New Debt Prisons

Entrapping debtors betrays the American idea. It must end.

#budgets-and-budgeting, #credit-and-debt, #criminal-justice, #debt-collection, #ex-convicts, #fines-penalties, #prisons-and-prisoners, #probation-and-parole

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Mario Draghi Saved the Euro. Can He Now Save Italy?

Mario Draghi has broad support as he tries to form a new government and restore Italy’s credibility and clout in Brussels. But Italian politics is a dangerous place for an enigmatic technocrat.

#bank-of-italy, #banking-and-financial-institutions, #conte-giuseppe, #credit-and-debt, #draghi-mario, #economic-conditions-and-trends, #economics-theory-and-philosophy, #euro-currency, #european-central-bank, #european-union, #eurozone, #italy, #legislatures-and-parliaments, #politics-and-government

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How the Stock Market’s Relentless Rise Saved Companies

When the pandemic hit, banks cut credit to businesses that suddenly looked risky. Investors happily stepped in, buying their stocks and bonds.

#amc-entertainment-holding-inc, #banking-and-financial-institutions, #carnival-corporation, #coronavirus-2019-ncov, #credit-and-debt, #dennys-inc, #royal-caribbean-cruises-ltd, #stocks-and-bonds, #united-airlines

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The Financial Minefield Awaiting an Ex-President Trump

Baseless election fraud claims and the Capitol riot have compounded already-looming threats to his bottom line. And the cash lifelines he once relied on are gone.

#credit-and-debt, #trump-organization, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government

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10 Challenges Biden Faces in Righting the Economy

The pandemic has damaged the economy and cost millions of people their livelihoods. These are some of the areas that demand Joe Biden’s attention.

#alternative-and-renewable-energy, #biden-joseph-r-jr, #china, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-taxes-us, #inaugurations, #international-trade-and-world-market, #labor-and-jobs, #presidential-election-of-2020, #small-business, #stimulus-economic, #transportation, #united-states-economy, #united-states-international-relations, #united-states-politics-and-government

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With Vaccines and Stimulus on the Way, Banks Brighten Their Outlook

The biggest banks in the United States have begun to pare back the enormous reserves they had socked away in case of an economic disaster.

#banking-and-financial-institutions, #citigroup-inc, #credit-and-debt, #jpmorgan-chasecompany, #united-states-economy

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How to Pay Off Credit Card Debt

While American balances are down over all, interest can still add up. If your stimulus check isn’t going to cover basics, consider reducing your debt.

#credit-and-debt, #credit-cards, #personal-finances

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One Hospital System Sued 2,500 Patients After Pandemic Hit

The largest health system in New York, led by a close ally of the governor, continues to sue over medical debt during the Covid-19 crisis, even after other big hospitals suspended lawsuits.

#coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #cuomo-andrew-m, #dowling-michael-j-1949, #finances, #hospitals, #new-york-state, #northwell-health, #suits-and-litigation-civil

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The Year the Fed Changed Forever

Jerome H. Powell’s central bank slashed rates, bought bonds in huge sums and rolled out never-before-tried loan programs that shifted its identity. The backlash is already beginning.

#banking-and-financial-institutions, #content-type-personal-profile, #coronavirus-2019-ncov, #credit-and-debt, #federal-reserve-system, #inflation-economics, #interest-rates, #labor-and-jobs, #mnuchin-steven-t, #powell-jerome-h, #treasury-department, #united-states-economy, #united-states-politics-and-government

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What Is 13-3? Why a Debate Over the Fed Is Holding Up Stimulus Talks

The Fed’s emergency lending authorities are a key part of its job. Republicans want to curb them. Democrats are pushing back.

#banking-and-financial-institutions, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-reserve-system, #mnuchin-steven-t, #presidential-election-of-2020, #stimulus-economic, #stocks-and-bonds, #toomey-patrick-j, #treasury-department, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

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Learn to Stop Worrying and Love Debt

Why you should ignore the coming Republican deficit rants.

#credit-and-debt, #federal-budget-us, #republican-party

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Biden’s Economic Picks Suggest Focus on Workers and Income Equality

In the White House and elsewhere, the president-elect’s selections are heavy on labor economists and champions of organized labor.

#adeyemo-adewale, #bernstein-jared, #boushey-heather, #coronavirus-2019-ncov, #credit-and-debt, #federal-taxes-us, #income-inequality, #labor-and-jobs, #rouse-cecilia-e, #tanden-neera, #taxation, #unemployment, #united-states-economy, #united-states-politics-and-government, #wages-and-salaries, #yellen-janet-l

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For Trump, Past Is Prologue

He has always tried to weave a reality different from what is actually true.

#bankruptcies, #credit-and-debt, #domestic-violence, #new-york-city, #trump-taj-mahal-casino-resort, #trump-donald-j, #trump-ivana, #walters-barbara

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When Churches Rescue Americans From Crushing Covid

Churches are doing what politicians have been unable to do, rescuing Americans from crushing medical bills.

#biden-joseph-r-jr, #christians-and-christianity, #credit-and-debt, #debt-collection, #democratic-party, #health-insurance-and-managed-care, #medicare, #medicine-and-health, #patient-protection-and-affordable-care-act-2010, #personal-bankruptcies, #protestant-churches, #sanders-bernard, #warren-elizabeth

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Trump Wars II: The Loser Strikes Back

Trashing the nation on his way out the door.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #credit-and-debt, #european-central-bank, #mnuchin-steven-t, #presidential-election-of-2020, #presidential-transition-us, #treasury-department, #united-states-politics-and-government

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Mnuchin Cites Principles in Clawing Back Fed Money. Democrats See Politics.

Trump’s Treasury secretary said Congress wanted key economic supports to end by Dec. 31, a view he expressed only after the vote count in the presidential election.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #credit-and-debt, #federal-reserve-system, #mnuchin-steven-t, #powell-jerome-h, #stimulus-economic, #treasury-department, #united-states-economy

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How Steve Mnuchin Snubbed Joe Biden

He terminated emergency-lending programs that will limit the new administration’s options — and upset the Federal Reserve, too.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-reserve-system, #senate, #stimulus-economic, #treasury-department, #trump-donald-j, #united-states-economy

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Mnuchin Plans to End Some Emergency Fed Facilities

The Treasury Department asked the Federal Reserve to return unused funds, which could prevent a new secretary from restarting key loan programs.

#coronavirus-2019-ncov, #credit-and-debt, #federal-aid-us, #federal-reserve-system, #mnuchin-steven-t, #treasury-department, #united-states-politics-and-government

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What About Tackling the Causes of Student Debt?

Pros and cons of loan forgiveness aside, there’s a more fundamental problem.

#biden-joseph-r-jr, #colleges-and-universities, #credit-and-debt, #for-profit-schools, #graduate-schools-and-students, #student-loans, #tuition

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Federal Reserve’s Emergency Loan Programs at Center of Political Fight

Democrats are eyeing the programs as a backup option if they can’t strike a deal to aid states and localities, and believe they may be needed to backstop markets. Republicans want them off the table.

#coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #democratic-party, #federal-reserve-system, #mnuchin-steven-t, #municipal-bonds, #powell-jerome-h, #presidential-election-of-2020, #republican-party, #stimulus-economic, #treasury-department, #united-states-economy, #united-states-politics-and-government

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For Millions Deep in Student Loan Debt, Bankruptcy Is No Easy Fix

It’s an extremely difficult debt to discharge, and only a few hundred people a year even try. Here are the stories of some who succeeded — mostly.

#colleges-and-universities, #credit-and-debt, #education-department-us, #educational-credit-management-corp, #federal-aid-us, #personal-bankruptcies, #student-loans, #united-states-politics-and-government

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Fed Holds Rates Steady and Signals Continued Wariness

The Federal Reserve made few changes to its policy statement during a week fraught with uncertainty.

#coronavirus-2019-ncov, #credit-and-debt, #federal-open-market-committee, #federal-reserve-system, #interest-rates, #labor-and-jobs, #small-business, #unemployment, #united-states-economy

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How Trump Maneuvered His Way Out of Trouble in Chicago

When his skyscraper proved a disappointment, Donald Trump defaulted on his loans, sued his bank, got much of the debt forgiven — and largely avoided paying taxes on it.

#chicago-ill, #credit-and-debt, #deutsche-bank-ag, #fortress-investment-group-l-l-c, #subprime-mortgage-crisis, #trump-international-hotel-and-tower-chicago-ill, #trump-tax-returns, #trump-donald-j, #united-states-politics-and-government

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Recession’s Silver Lining: American Households Are Doing Better Than Expected

With few avenues for spending and big purchases on hold, many Americans are saving more and paying off debts, helped by loan deferrals and relief aid.

#coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #credit-cards, #credit-scores, #fair-isaac-corporation, #layoffs-and-job-reductions, #personal-finances, #recession-and-depression, #savings, #stimulus-economic, #united-states-economy

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The Fed’s $4 Trillion Lifeline Never Materialized. Here’s Why.

The Federal Reserve was meant to take $454 billion and drastically expand it. So far, it has lent $20 billion.

#banking-and-financial-institutions, #coronavirus-aid-relief-and-economic-security-act-2020, #credit-and-debt, #federal-aid-us, #federal-budget-us, #federal-reserve-system, #house-of-representatives, #interest-rates, #local-government, #mnuchin-steven-t, #regulation-and-deregulation-of-industry, #senate, #stocks-and-bonds, #treasury-department, #trump-donald-j, #united-states-economy, #united-states-politics-and-government

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Why Biden Will Need to Spend Big

The economic case for deficit spending is overwhelming.

#biden-joseph-r-jr, #coronavirus-2019-ncov, #credit-and-debt, #federal-budget-us, #federal-reserve-system, #interest-rates, #savings, #united-states-economy, #united-states-politics-and-government

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$421 Million in Debt: Trump Calls It ‘a Peanut,’ but Challenges Lie Ahead

The president on Thursday played down big loans he guaranteed for his struggling businesses. But much of that debt is soon to come due in the midst of declining revenue and an I.R.S. audit that could cost him over $100 million.

#bank-of-china, #bankruptcies, #casinos, #credit-and-debt, #deutsche-bank-ag, #federal-taxes-us, #golf, #hotels-and-travel-lodgings, #presidential-election-of-2016, #presidential-election-of-2020, #trump-international-hotel-washington-dc, #trump-national-doral-miami-doral-fla, #trump-plaza-hotelcasino-atlantic-city-nj, #trump-tax-returns, #trump-donald-j, #vornado-realty-trust

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Trump Calls $421 Million Debt ‘a Peanut,’ but Challenges Lie Ahead

The president on Thursday played down big loans he guaranteed for his struggling businesses. But much of that debt is soon to come due in the midst of declining revenue and an I.R.S. audit that could cost him over $100 million.

#bank-of-china, #bankruptcies, #casinos, #credit-and-debt, #deutsche-bank-ag, #federal-taxes-us, #golf, #hotels-and-travel-lodgings, #presidential-election-of-2016, #presidential-election-of-2020, #trump-international-hotel-washington-dc, #trump-national-doral-miami-doral-fla, #trump-plaza-hotelcasino-atlantic-city-nj, #trump-tax-returns, #trump-donald-j, #vornado-realty-trust

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