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Friday, September 29, 2017

Trump’s Puerto Rico rip-off

Here’s how Trump is partially responsible for Puerto Rico’s financial crisis

Image may contain: 2 people, textTrump’s muted response to the disastrous effects wrought on the island of Puerto Rico by Hurricane Maria is puzzling, with two popular speculated explanations: either Trump doesn’t know that Puerto Ricans are American citizens, or he doesn’t care about them because he’s an avowed white supremacist. Of course, it could be a mix of the two.

Now, another explanation for Trump’s weak Puerto Rican relief efforts has surfaced. Death and Taxes Magazine reports that Trump tried and failed to launch one of his gaudy golf courses on the island territory.

The Trump International Golf Club Puerto Rico borrowed $26.4 million in government-backed bonds for renovations but later defaulted on $119,814 to the bondholders. 

When the golf course went bankrupt, Trump tried to distance himself from the failed endeavor, which he had licensed his name to and made hundreds of thousands of dollars off. 

Puerto Rican taxpayers were stuck paying the $32.7 million bill as Trump and his associates vacated any responsibility for the colossal failure.

The revelation brings a whole new layer of hypocrisy and mendacity to Trump’s recent disgusting tweets slamming Puerto Rico for its outstanding debts at a time when all the island needs is the support of its president.

Trump is a notoriously bitter man, prone to holding grudges for a long, long time. 

It’s entirely possible that his failure to act on behalf of Puerto Rican Americans is directly related to the fact that a business bearing his name floundered and died on the island. 

Most Puerto Ricans are currently without water or electricity, and our president is utterly failing them. There is no good excuse for his behavior.