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666: The Story of an American family and its deal(s) with the devil

Discussion in 'BBS Hangout: Debate & Discussion' started by justtxyank, May 18, 2018.

  1. justtxyank

    justtxyank Contributing Member

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    Meet the Kushners.
    [​IMG]

    A family, like any other family, that tries to provide for their progeny and live out the American dream.

    Behold 666 Fifth Avenue, New York, NY.
    [​IMG]

    A beautiful piece of real estate in Midtown Manhattan.

    This is the story about an American family, the Kushners, that invested in a beautiful piece of real estate, 666 Fifth Avenue, and quickly found themselves deep in debt with no way out. With no American banks or investors willing to step in and no power to leverage any foreign investors, it looked bleak for the Kushners.

    https://www.bloomberg.com/graphics/...l-flop-was-part-of-much-bigger-hunt-for-cash/

    https://www.washingtonpost.com/poli...ory.html?noredirect=on&utm_term=.c2459f602260

    https://theintercept.com/2017/07/10...get-a-half-billion-dollar-bailout-from-qatar/
    https://theintercept.com/2018/03/02/jared-kushner-real-estate-qatar-blockade/
    http://www.newsweek.com/kushner-dad-qatar-money-851230
    https://www.washingtonpost.com/worl...6256e8e0493_story.html?utm_term=.ad363555c1dd
    https://www.haaretz.com/us-news/.premium-trump-qatari-emir-great-friend-of-mine-1.5990600
    https://www.nytimes.com/2018/04/28/world/middleeast/mike-pompeo-saudi-arabia-qatar-blockade.html
    Pompeo’s Message to Saudis? Enough Is Enough: Stop Qatar Blockade
    http://www.latimes.com/business/la-fi-kushner-land-deal-20180517-story.html
    Kushners near deal with Qatar-backed firm to save investment in troubled Manhattan high-rise

    http://www.nydailynews.com/news/pol...-bail-kushner-biz-n-y-tower-article-1.3995209
    Qatar-linked company close to bailing Jared Kushner's family business out of troubled Manhattan tower

    https://www.nytimes.com/2018/05/17/nyregion/kushner-deal-qatar-666-5th.html
    Kushners Near Deal With Qatar-Linked Company for Troubled Tower

    http://www.scmp.com/news/world/unit...64/kushner-family-likely-be-bailed-out-qatari
    Kushner family ‘likely to be bailed out by Qatari government-linked company’ after years-long failure to sell 666 Fifth Avenue
     
    #1 justtxyank, May 18, 2018
    Deckard, krnxsnoopy, FranchiseBlade and 3 others like this.
  2. justtxyank

    justtxyank Contributing Member

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    TL-DR Summary
    -Kushner properties purchased 666 Fifth Avenue in 2007
    -Reports from 2007 to 2018 were that this was a project of Jared Kushner
    -In 2018, Kushner's father said it was actually all his idea
    -The property has been a boondoggle from the beginning, never bringing in revenue above expenses
    -Mortgage debt is due in 2019
    -Prior to Trump presidency, Kushner family tried every avenue to get an investor. No one was interested. American banks rejected any solicitations for help, foreign banks wouldn't even take meetings with the family about the property
    -After securing the election, Jared Kushner divested himself personally with his father assuming full control
    -Jared was still involved in meetings regarding the property
    -Charles Kushner met with the Qataris about bailing out the building after the Chinese said "no". The Qataris also said "no."
    -Kushner denied the meeting took place until a source from Qatar confirmed it. Charles Kushner then claimed it was one meeting and was him saying "no" to Qatar. It was later confirmed there were two meetings with Qatar being the one to deny Mr. Kushner
    -Weeks after this meeting, a blockade was initiated of Qatar by their neighbors. The US Secretary of State, Rex Tillerson, immediately condemned the blockade and said the US stood with their ally Qatar.
    -Less than an hour later, the president of the United States undercut this statement and condemned Qatar, calling them terrorists
    -The Qatar government considered cooperating with Special Counsel Robert Mueller as well as the Eastern District of NY, both of whom are investigating Mr. Kushner's financial dealings, by sharing evidence they claimed would indicate that Jared Kushner was punishing them for not bailing out the building. Ultimately they declined to cooperate.
    -Early April 2018: Vornado, the other partner in the building announces that a mystery party has stepped in to give the Kushner family the money needed to both refinance the debt AND buyout Vornado, making the Kushners 100% owner of the building. They would not reveal who the partner was.
    -April 9th: President Trump meets with the Emir of Qatar in the White House and calls him a "friend" and an "ally."
    -In late April, the new Secretary of State Mike Pompeo began calling on Saudia Arabia to end it's blockade of Qatar.
    -May 17th: It's revealed that the secret partner bailing out the Kushner's is a Candian investment firm with direct ties to? You guessed it...Qatar. Prior to this there was literally ZERO interest from ANYONE in helping the Kushner's with this property.
     
    #2 justtxyank, May 18, 2018
    Invisible Fan, joshuaao, Deckard and 5 others like this.
  3. JuanValdez

    JuanValdez Contributing Member

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    Yeah, okay, that sounds a little fishy.
     
    #3 JuanValdez, May 18, 2018
    justtxyank likes this.
  4. Amiga

    Amiga 10 years ago...
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    If Clinton, Congress would already be on it.
     
    #4 Amiga, May 18, 2018
    superfob and justtxyank like this.
  5. conquistador#11

    conquistador#11 Member

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    they sound like modern Fausts.
     
    #5 conquistador#11, May 18, 2018
  6. Cohete Rojo

    Cohete Rojo Contributing Member

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    The Qataris think they can just buy influence. Boy, will they be disappointed.
     
    #6 Cohete Rojo, May 18, 2018
  7. Amiga

    Amiga 10 years ago...
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    Can you blame them? They were bullied and have little choice.

    As for buying influence, you may not have noticed but that door has always been open. The big difference is it was once a secretive door. Now it’s right there down the street.
     
    #7 Amiga, May 18, 2018
  8. B-Bob

    B-Bob "94-year-old self-described dreamer"

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    Bottom line for me: what an epically stupid real estate purchase. 3% down on a record purchase at the height of the market. Can only wonder if his father-in-law offered some Manhattan advice. LOL.

    Anyone who wants Jared advising any part of our government is dumber than a bag of hammers.
     
    #8 B-Bob, May 18, 2018
    arkoe and No Worries like this.
  9. jo mama

    jo mama Contributing Member

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    the trump supporters think that the swamp is being drained. boy, if they werent such gullible and stupid boot-lickers they would be dissapointed.
     
    #9 jo mama, May 18, 2018
    krnxsnoopy likes this.
  10. adoo

    adoo Member

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    they bought this dong during the heights of the real estate bubble
    [​IMG]

    Before the Qataris, Kushner attempted to secured financing from a Russian state-owned bank and a Chinese insurance / travel giant, AnBang, whose major shareholder was recently detained by the Chinese Gov for shady / fraudulent conducts.

    details of the quid pro quo, pre-Qataris, were discussed here, http://bbs.clutchfans.net/index.php...an-conflict-of-interest.281501/#post-10999760



    http://bbs.clutchfans.net/index.php...an-conflict-of-interest.281501/#post-10999760
     
    #10 adoo, May 18, 2018
  11. justtxyank

    justtxyank Contributing Member

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    Um...

    Two weeks after making this deal with Kushner the Qataris got a meeting with trump and he called them friend and sent his new Secretary of State to help them.

    Sounds like Mission accomplished
     
    #11 justtxyank, May 18, 2018
    No Worries and JuanValdez like this.
  12. Exiled

    Exiled Member

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    it's amazing how this GCC childish fueds got so complicated
     
    #12 Exiled, May 18, 2018
  13. Gutter Snipe

    Gutter Snipe Contributing Member

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    If you are buying a record purchase at the height of the market, would you want to put more money down? I'd be more concerned about limiting my liability on what is clearly a highly leveraged deal to try to make a huge amount of money.

    (not saying that buying it was a good idea, I'm just saying that I understand)
     
    #13 Gutter Snipe, May 20, 2018
    B-Bob likes this.
  14. Deckard

    Deckard Blade Runner
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    This is obvious corruption and trump, along with the desperate Kushners, makes little effort to hide it from anyone with a functioning brain, in my opinion. Incredible.
     
    #14 Deckard, May 20, 2018
  15. krnxsnoopy

    krnxsnoopy Contributing Member

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    True. Fair play to them, but they should have declared bankruptcy or have the property foreclosed like millions of other Americans. With the Trumps and Kushners, America is for sale! Russia, Qatar, what do you guys want?
     
    #15 krnxsnoopy, May 20, 2018
  16. B-Bob

    B-Bob "94-year-old self-described dreamer"

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    I hear you, on one level, but debt is still a form of serious liability, especially if you've burned too many lending bridges.
     
    #16 B-Bob, May 20, 2018
  17. Sweet Lou 4 2

    Sweet Lou 4 2 Contributing Member
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    We all know the US foreign policy is for sale to anyone who can help out Trump's kids
     
    #17 Sweet Lou 4 2, May 20, 2018
  18. Buck Turgidson

    Buck Turgidson Member

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    Don't forget that they also bought the World Cup. If there's an organization more corrupt than the Trumps, it's FIFA.
     
    #18 Buck Turgidson, May 21, 2018
  19. Invisible Fan

    Invisible Fan Contributing Member

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    Arabs bailing out a Jewish family? This bodes well for Israel and Palestine.

    America First!
     
    #19 Invisible Fan, May 22, 2018
    FranchiseBlade likes this.
  20. JuanValdez

    JuanValdez Contributing Member

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    And Jared and Ivanka get security clearance from the FBI?
     
    #20 JuanValdez, May 25, 2018
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