, 10 tweets, 3 min read Read on Twitter
Yet another failed Trump Org project, this time in Uruguay. @JesseDrucker has details. Man oh man those Trumpees must just be lousy at business. Or are they? Here’s a theory of failure. nytimes.com/2019/06/02/bus…
Drucker found that like other Trump projects, it has dubious partners and the condos are being snapped up by some real sweeties.
Add this name to other failures. Or “failures”: Panama (detailed by @hvogell, @AndreaWNYC, @Meg_Cramer here: features.propublica.org/trump-inc-podc…), Baku, Trump Soho, Vancouver, Baja, Toronto, etc. etc.
So what’s going on? Are Eric, Ivanka, Donnie & DJT just cretins? Don’t answer that!

Think about it: Could anyone in the world, even the most ill equipped failsons & daughter, rack up this streak of failures? In a decade of economic growth and booming real estate?
Seems highly... unlikely.

So my theory: the projects are meant to fail. Another possibility: the projects are not intended to succeed. Because they are not about building buildings.
They are about money laundering. Not just the condos but the buildings themselves. The Trump Org plays a key role as a third-tier stop in the global laundromat. (The first tier are big,
“respectable” banks like ones that rhyme with Schmeutsche Schmank.)
Why wouldn’t you want to end up with a successful building at the end? Wouldn’t that throw off money?

No.

That would bring too much scrutiny. Serious lenders would want to lend against it, and want to scrutinize the books. Regulators and tax authorities would come a’callin’.
It’s better to have the thing go on and on and on but never reach the finish. The Trump Org is the Xeno’s paradox of real estate.
Anyway, just a theory. If there were only some kind of investigative body with subpoena powers that could attempt to answer these mysteries.
Read the whole thing, also by @manuelaandreoni, here: nytimes.com/2019/06/02/bus…
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Jesse Eisinger
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Follow Us on Twitter!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!