Quincy News: How Russian Money Helped Save Trump’s Business

President-elect Donald Trump in Trump Tower elevator
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– News and commentary covered by Quincy Quarry News.

How Russian Money Helped Save Trump’s Business.

After his financial disasters two decades ago, no U.S. bank would touch him.

Manna from Moscow?
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In the fall of 1992, after the Donald cut a deal with major U.S. banks to work off nearly a billion dollars in personal debt, Donald Trump put on a big gala for himself in Atlantic City to announce his comeback.

Party guests were given sticks with a picture of Trump’s face glued to them so they could be photographed posing as the real-estate mogul.

Crapped out in Atlantic City and elsewhere
A Charles Rex Arborgast/AP file photo
As the theme music from the movie Rocky filled the room, an emcee shouted, “Let’s hear it for the king!” and Trump, wearing red boxing gloves and a robe, burst through a paper screen. One of his casino executives announced that his boss had returned as a “winner,” according to Trump biographer Michael D’Antonio.

But it was mainly an act, D’Antonio told Foreign Policy.

Vlad – I need a favor …
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In truth, the Donald was all but finished as a major real-estate developer in the eyes of many in the business as well as that U.S. banks were pretty much finished with him.

By the early 1990s he had burned through much of his portion of his father Fred’s fortune with a series of reckless business decisions.

But then foreign money of at least occasionally curious provenance started coming his way. Lots of it.