| | | “Trump Owes Money to China” Story is Fake NewsThe Bank of China sold its debt in 2012.
Published
2 hours ago on
Apr 26, 2020
By
Richard Moorhead
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Politico ran a story on Friday claiming that President Donald Trump personally owed money on a loan to the Bank of China, dating back to the refinancing of a Trump property in 2012. But it appears after the state-owned Bank of China released a statement clarifying the matter, the story is little more than fake news.
Politico claimed that Trump “owes tens of millions to the Bank of China” in the Friday story.
But after the Bank of China clarified the matter, they edited the headline of the story drastically, merely stating that “Trump owed tens of millions to the Bank of China.”
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After the story’s publication, the Bank of China was quick to clarify that “within 22 days, the loan was securitized and sold into the [commercial mortgage-backed securities] market, as is a common practice in the industry. Bank of China has not had any ownership interest in that loan since late November 2012.”
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The erroneous and anachronistic reporting of Politico hasn’t stopped a multitude of Twitter liberals from claiming the old transaction represents a pressing conflict of interest, notably hoping to distract from reporting of Joe Biden’s reliable and storied track record of cooperation towards China. At least some on the Left have honestly admitted that the story is misleading, and that the President doesn’t currently owe any money in refinanced loans to Chinese banks.
ian bremmer
?@ianbremmer
Story got a lot of play...turned out it’s wrong. Loan was securitized in 2012, Trump doesn’t owe any money to Bank of China. t.co
Trump owed tens of millions to Bank of ChinaThe president's financial dealings with the state-owned bank complicate his attacks on Biden.
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If you’re awaiting any reporting from mainstream media entities on Joe Biden’s far more concerning track record of supporting nearly every pro-China globalist trade deal made within the last few decades, you may be kept waiting as the fake news seeks to dig up more sham “dirt” on Trump. |
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