Politico Apology: Trump Doesn’t Owe Bank of China

(UnitedVoice.com) – It looks like MSM got it wrong — again. News source POLITICO published an article last week saying President Trump, through the Trump Organization, owes close to $1 billion to the Bank of China. According to them, the loan repayment was due as early as 2022.

POLITICO stated the money owed is part of a refinancing deal back that occurred in 2012. It was part of a New York City real estate venture helping him acquire one of his most lavish properties in the city.

The news was most welcomed by President Trump’s critics who immediately jumped on board and publicly outcried the President’s actions. These critics included none other than Joe Biden’s Rapid Response Director, Andrew Bates.

Trump owes the Bank of China millions for helping him acquire one of his most valuable properties. The loan comes due in the middle of the next presidential term.

Remember how much he echoed Chinese government propaganda about the virus being contained?https://t.co/sofIIRCrpG

— Andrew Bates (@AndrewBatesNC) April 24, 2020

Unfortunately for those critics, POLITICO got it wrong. The publication was forced to make corrections about the information along with a public apology on Tuesday. Why the turnabout? According to POLITICO, they received a statement from a Bank of China representative saying the bank sold off the debt after the 2012 deal.

The publication also corrected another falsehood in regard to Wells Fargo Bank. Wells Fargo confirmed the Bank of China was incorrectly listed as a creditor on the building and it was taking the necessary steps to fix the discrepancy.

At least they admit it. The Failing @nytimes & @washingtonpost never correct their Fake Reporting! https://t.co/3aUKA4826K

— Donald J. Trump (@realDonaldTrump) April 29, 2020

Unfortunately, even after correcting the article, news sources are still reporting the story as fact. Maybe President Trump has it right. Inaccurate reporting like this, aimed solely at discrediting him, is the reason he refers to many in the media outlets as “fake news.”