Sunday, November 6, 2016

What Taj Mahal investors found in Trump’s fine print

What Taj Mahal investors found in Trump’s fine print

"According to hundreds of pages of court documents reviewed by International Business Times, Trump notched a victory for himself and the financial industry by convincing judges that his own fine print warnings meant he had not deceived investors when he lured them to bet—and ultimately lose—hundreds of millions of dollars on one of his riskiest development projects. The real estate mogul known for his litigiousness helped Corporate America secure a ruling making it harder for investors to file lawsuits. Unlike his other past business moves that appeared to affect only Trump’s business partners, vendors and customers, this Trump case helped set a court precedent that was soon codified into law. Trump is now asking voters to invest in his vision for America. But after reviewing the case about his fine print disclaimers, Democratic Sen. Elizabeth Warren, a Clinton supporter, told IBT that Americans should take note. “The pattern is pretty clear: He dodges his taxes, cheats his workers, scams students and misleads investors — all to line his own pockets,” said Sen. Warren, a former law professor who has raised concerns about weak investor protections and risk-disclosure requirements."