Richard Lindgren: “When I run the numbers, Donald Trump appears to own, to use a phrase a business colleague described him with in the 1990s Atlantic City era, a ‘zero-billion-dollar business.’” -promoted by Laura Belin

Ever since I began my own blog in January of 2018, Donald Trump’s “not-normal” finances have been in my head and have been discussed numerous times. Now that the media frenzy over his Covid diagnosis has abated somewhat, perhaps we can get back to Trump’s financial frauds. In light of the recent excellent reporting from the New York Times and others, this is a look back at what I got right and what I got wrong in some early posts about Trump’s wealth and taxes.

Frantic efforts to control the situation at Japan’s Fukushima nuclear power plant have not had much success during the past week. The areas of greatest concern appear to be the reactor in unit 3 and the spent fuel pool on the roof of unit 4.

President Barack Obama indicated yesterday that the U.S. and its allies may embark on a new military campaign in Libya, if Colonel Muammar el-Qaddafi does not comply with demands for a cease-fire with rebels. On Thursday the United Nations Security Council authorized military action against Qaddafi. Like other commentators, I don’t feel reassured by Obama’s promise that the U.S. won’t deploy ground troops in Libya. The president’s reasoning for intervening there (but not elsewhere to avert atrocities) is not convincing.

The Des Moines Register has published front-page stories three days in a row on an Ankeny couple who exploited a loophole in mortgage law to get a nice house for free. Lee Rood’s reporting suggests the couple misrepresented their assets to obtain the mortgage and were in a position to know about the loophole before they closed on their house (without the wife signing the documents). I don’t condone obtaining a house by fraudulent means, if that’s what has occurred in this case. That said, foreclosure fraud by lenders appears to be far more prevalent than the scheme this Ankeny couple may have implemented. Most of the time the mainstream media ignores stories about innocent homeowners jerked around by banks. I hope the Register will follow up with a number of front-page stories about that side of the foreclosure story.

Iowa State University economist Neil Harl argued that Republican tax cut proposals won’t spark economic growth. Speaking on Iowa Public Television’s “Iowa Press” program,

“The question is what is in the best interest of this state in terms of long-term economic growth,” Harl said. “What attracts companies to come to Iowa? I don’t think it’s potholes in the streets. I don’t think it’s a third-rate school system. I don’t think it’s a situation of starved universities.” […]

Harl said he opposes the Republican plans because they would inevitably cut into state revenue needed to support the services he believes are the real attraction for businesses. One of Iowa’s main assets is a high quality of life, he said.

“I think it’s a state that’s viewed as forward looking and offers a great environment for a company to move into,” he. “This is being sold on the grounds that it will attract more companies here, but I really doubt that.”

As part of a Chapter 11 bankruptcy reorganization, Borders will close its West Des Moines bookstore by the end of May. For now, Borders plans to keep its stores in Ames, Dubuque and Davenport open. Even though I support locally-owned businesses like Beaverdale Books, Borders is one chain I will be sorry to see go.

I’ll close this gloomy post on an upbeat note: less than one week remains before Planned Parenthood’s giant semi-annual book sale at the State Fairgrounds.

This is an open thread. What’s on your mind this weekend, Bleeding Heartland readers?

UPDATE: And on March 19, the U.S. launched air strikes in Libya. Happy Iraq War anniversary! This is not going to end well.