Trump might have reportedly illegally manipulated the market in the '80s
There's more to The New York Times' bombshell story about President Trump's tax information than the reveal that Trump is not the best at running a business.
Trump reportedly had a rough go of it between 1985 and 1994. Naturally, he's hand-waving the $1.17 billion that his core businesses lost during that time period — in fact, he's somehow arguing it actually proves how smart he is, business-wise. But his critics are not just challenging that notion. They've also spotted some possibly illegal activity in the form of market manipulation.
Between 1986 and 1988, Trump's businesses were really struggling, the Times reports. Yet he was still raking in millions of dollars on the stock market. His methods, however, were questionable, to say the least.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Eventually, the Times writes, those investors wised up and stopped taking the claims seriously, which eventually resulted in Trump losing most of that money. But it does look like he dodged the Security and Exchange Commission. Not only were Trump's business ethics sketchy, his actions might have been outright against federal law. Tim O'Donnell
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.
-
Today's political cartoons - December 21, 2024
Cartoons Saturday's cartoons - losing it, pedal to the metal, and more
By The Week US Published
-
Three fun, festive activities to make the magic happen this Christmas Day
Inspire your children to help set the table, stage a pantomime and write thank-you letters this Christmas!
By The Week Junior Published
-
The best books of 2024 to give this Christmas
The Week Recommends From Percival Everett to Rachel Clarke these are the critics' favourite books from 2024
By The Week UK Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published
-
Bitcoin surges above $100k in post-election rally
Speed Read Investors are betting that the incoming Trump administration will embrace crypto
By Peter Weber, The Week US Published
-
Enron mystery: 'sick joke' or serious revival?
Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
By Peter Weber, The Week US Published
-
US charges Indian tycoon with bribery, fraud
Speed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
By Peter Weber, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published
-
US economy still strong in final preelection report
Speed Read It grew at a solid 2.8% annual rate from July through September
By Peter Weber, The Week US Published
-
Boeing machinists reject deal, continue strike
Speed Read The rejection came the same day Boeing reported a $6.2 billion quarterly loss
By Peter Weber, The Week US Published