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<blockquote data-quote="oldngray" data-source="post: 4467447" data-attributes="member: 45230">Politico reported Friday that Trump owes millions to the Bank of China for a loan financing a building located at 1290 Avenue of the Americas in Manhattan, which occupies the entire block between 51st and 52nd streets. The story said that the president would have to pay tens of millions of dollars to the communist-controlled banks because the loan was coming due shortly, which it hyped as “unprecedented.”There&#039;s a big problem with this. President Trump is not the debtor and Bank of China is not the creditor on the loan. Trump is a minority partner in Vornado Realty Trust, which took out the loan, and is not liable for the repayment. The Bank of China was one of a consortium of lenders in 2012 that provided $950 million but sold its interest 22 days later. <a href="https://www.newsbusters.org/blogs/nb/tim-graham/2020/04/26/politicos-fake-trump-owes-tens-millions-bank-china-story" target="_blank">Politico&#039;s Fake Story Collapses: &#039;Trump Owes Tens of Millions to Bank of China&#039;</a></blockquote>

[QUOTE="oldngray, post: 4467447, member: 45230"] Politico reported Friday that Trump owes millions to the Bank of China for a loan financing a building located at 1290 Avenue of the Americas in Manhattan, which occupies the entire block between 51st and 52nd streets. The story said that the president would have to pay tens of millions of dollars to the communist-controlled banks because the loan was coming due shortly, which it hyped as “unprecedented.” There's a big problem with this. President Trump is not the debtor and Bank of China is not the creditor on the loan. Trump is a minority partner in Vornado Realty Trust, which took out the loan, and is not liable for the repayment. The Bank of China was one of a consortium of lenders in 2012 that provided $950 million but sold its interest [B]22 days later.[/B] [URL="https://www.newsbusters.org/blogs/nb/tim-graham/2020/04/26/politicos-fake-trump-owes-tens-millions-bank-china-story"]Politico's Fake Story Collapses: 'Trump Owes Tens of Millions to Bank of China'[/URL] [/QUOTE]

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