Tuesday, July 26, 2016

DEAR OLD DAD



 “My legacy has its roots in my father’s legacy”

 "I learned the most from my father,about life and about  business"

“My Dad, Fred Trump, was the smartest and hardest working man I ever knew. I wonder sometimes what he’d say if he were here to see this tonight.”  acceptance speech July 21 2106


A most notable exhibition of filial respect and affection.As it should be.
                      Thou shalt honour thy  father and thy mother.


Frederick Christ "Fred" Trump (October 11, 1905 – June 25, 1999)

                                                        
The first time the Trumpf  family made news  was in 1927.
The New York Times reported that  Fred Trump was arrested in Queens during a Klan rally of about 1,000 people.At its mid-1920's peak,KKK had up to 6 million  members.

Almost 90 years later,Presidential aspirant Donald was asked to disavow the endorsement of David Duke,a former and unrepentant Grand Wizard of the KKK.

 Trumpf Responded: 

 "I don't know David Duke. You wouldn’t want me to condemn a group that I know nothing  about.”

                                                               

   
WW II and Trump Service

  • When the U.S. entered World War II,men aged 18 to 45 were made subject to military service. Fred was 36.He did not serve.
  • Unlike  John McCain,the Donald managed to miss out on Vietnam.
  • Four draft deferments for education and medical reasons.
  • An 18 carat gold plated Chicken Hawk.
  • None of his sons served.
  • This is a true family tradition of service.
  • Trump's Grandfather  left Germany in 1885  when 16,the age of Prussian Military Conscription.
  • After making the family fortune running saloons and brothels in the US & Canadian West he returned to Germany in 1904 aged 35.Post conscription age.
  • German authorities determined that Trump had emigrated from Germany to avoid his tax and military-service obligations.
  •  He was labeled a draft dodger and deported to the USA.Those Prussians took this stuff rather seriously.
Trumpf is of course "Big,Very Big,YUUGE on the military and LOVES the troops.



 WW II and  the Trump Empire

 Fred had a Good War.
  •  He built barracks and garden apartments for US Navy personnel.
  • Immediately after the war  he expanded into middle-income housing for the families of returning veterans.
  • Building Shore Haven in Bensonhurst in 1949, and Beach Haven near Coney Island  in 1950 (a total of 2,700 apartments.
  • All these projects were funded or guaranteed by the government.
  • A  master of state/crony capitalism.
  • President Eisenhower believed Trump was at the top of a list of many builders profiteering through the use of FHA  monies intended to build affordable housing for World War II veterans.
  •  The General apparently had a thing about vets being exploited, calling the builders,“sons of bitches,” .            
  •  Fred Trump was investigated by U.S. Senate Banking Committee in July of 1954.
  • Grilled about the millions in  profit he had expropriated from Beach Haven.
  • In September 1954, 2,500 Beach Haven tenants sued Trump and the FHA, claiming the builder made illicit profits .
  • The builder had received loans for $4 million more than the construction actually cost,and that rents were consequently inappropriately inflated.
  • Folk icon Woody Guthrie,1950's tenant in one of Fred Trump's apartment complexes chronicled his disgust penning lyrics accusing him of stirring up racial hate "in the bloodpot of human hearts"

  Cannot keep a good man down - Back to the KKK roots ?

In 1968 22-year-old Donald joined the family company becoming president in 1974.





The case was settled in a 1975 consent degree described as "one of the most far-reaching ever negotiated". The Trump Management Corporation "promised not to discriminate against blacks, Puerto Ricans, and other minorities."
The agreement covered 40,000 apartments.


The Justice Department subsequently complained that continuing "racially discriminatory conduct by Trump agents has occurred with such frequency that it has created a substantial impediment to the full enjoyment of equal opportunity." 

 In 1978, the Justice Department filed another discrimination suit against the company, alleging that the Trumps weren't complying with the original terms of the 1975 settlement. 


It is unfair to use these isolated incidents to claim that the Donald or his Fred had a racial bias.Apple and Tree comes to mind.
                                         
                                                              


The Fathers Fortune

 During his life Fred had used his connections to help Donald get projects and had guaranteed loans for Donald to develop the Hyatt Grand Central,Trump Towers and the Trump Casinos.No golf courses.

Fred developed Alzheimer's by 1991.He died in June ,1999,aged 93.

Since his father's incapacity and death Donald has filed 6 bankruptcies.
  • Trump Taj Mahal Associates, Atlantic City casino — 1991
  • Trump Castle Hotel & Casino, Atlantic City casino — 1992
  • Trump Plaza Associates, Atlantic City casino — 1992
  • Plaza Operating Partners, Manhattan hotel — 1992
  • Trump Casino Holdings, Atlantic City casinos — 2004
  • Trump Entertainment Resorts, Atlantic City casinos — 2009
Involving some five billion dollars of  debts.  

Who are his bankers ?!!?


 By the time Fred died he had passed on most of his wealth  .Nevertheless his remaining estate was estimated at between $250-300 million.  His wealth enabled the Donald to Start Big.

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