In 2006, our Mr. Potter Goes to Washington character wanted to be able to cash in on a crash.
“I sort of hope that happens because then people like me would go in and buy,” he said in his ’06 audiobook for Trump University. “If there is a bubble burst, as they call it, you know, you could make a lot of money. At the same time, I don’t think that will happen.” I would never nitpick Trump’s Archie-Bunker-like mangled syntax with phrasing like “if there is a bubble burst.” Who ever put the words in that order? But I promised not to nitpick, so I won’t.
As some economists and Wall Street traders began to sense danger ahead of the crippling housing market collapse of 2008, Donald Trump waved away the worries and offered a concrete expression of confidence in the industry.
In the spring of 2006, the tycoon hosted a glitzy event at Trump Tower to introduce Trump Mortgage LLC, a new firm that specialized in selling residential and commercial real estate loans. He devoted a floor of the Trump Organization headquarters at 40 Wall Street to the new business. And his picture appeared atop the company website with the instruction: “Talk to My Mortgage Professionals now!”
“I think it’s a great time to start a mortgage company,” Trump told a CNBC interviewer in April 2006, adding that “the real estate market is going to be very strong for a long time to come.”
What kind of genius businessman would be starting a mortgage company at the same time he was hoping for real estate, in general, to collapse? Maybe one not quite as shrewd or intelligent or consistent as the image those man-on-the-street interview subjects believe in, “yea, he’s clever and rich and I think he’ll do the same for me and the country we’re gonna take back… he’s not politically correct and he’s not a politician.” Ya think?
Marketwatch on Elizabeth Warren: “Donald Trump was drooling over the idea of a housing meltdown — because it meant he could buy up a bunch more property on the cheap,” the Massachusetts senator said in a speech Tuesday , according to the Washington Post. “What kind of a man does that? Root for people to get thrown out on the street?” Clinton, Trump’s likely opponent in November, hit Trump on the same subject in a video and series of tweets. Trump blasted both Clinton and Warren at a rally in New Mexico Tuesday night, calling Clinton a “low life” for using his comments about the housing crisis in an ad.