tv Key Capitol Hill Hearings CSPAN February 29, 2016 2:23am-3:03am EST
fwroy internal relations the savvy he has dembut an examinats operations abroad revealing that while he has made millions selling his name he has chosen a number of inexperienced, even questionable partners, sometimes infuriating buyers and associates and moved late into saturatedproducing less income advertised." guest: well, he's made many millions of dollars, no doubt about it. there's his name on buildings all around the world. but we looked into some of these deals in toronto, istanbul, panama, elsewhere, and found a pattern sometimes that he would make money, and then his partners would be perhaps unhappy down the road. host: what was the most surprising thing that you learned? guest: well, the most surprising thing was just, when you look around at how many people were unhappy. i mean, in panama, his partners were trying to get out of the business with him. in toronto, you look at istanbul, and we are told his
partners want to get out of business there with him. there seems to be a pattern that emerged. he would get paid, and then down the road his people would be unhappy. host: i want to share with you just one of the moments from the cnn debate that took place on thursday. he talked about his experiences in negotiating deals overseas. mr. trump: i'm a negotiator. i've done very well over the years through negotiation. it's very important that we do that. in all fairness, marco is not a negotiator. i watched him melt down, and i tell you, it was one of the saddest things i've ever seen. he's not going down -- >> he thinks this is a real estate deal. mr. trump: these people may even be tougher than chris christie. senator rubio: this is not a real estate deal. when you're dealing with terrorists -- mr. trump: you're not a negotiator. with your thinking, you will never -- you will never -- i repeat, you will never bring -- senator rubio: i bring -- this
is not a real estate deal. mr. trump: he will never be able to do t. i think i may be able to do it, although i will say this, probably the toughest deal of any kind is that particular deal. host: as you hear donald trump, that has really been one of the key hall marks of his candidacy. he's an outsider. he's a businessman. he knows how to make a deal. he wrote the best-selling book "the art of the deal." guest: his opponents are now hitting him on his business experience. there are some questions that have arisen. he has made money. he's been very successful at trading the trump brand. host: let's go to a couple of overseas locations that you write about. in t of all, trump towers azerbaijan. guest: the economy there is struggling. he was paid about $2.5 million for a deal, and put his name on it, and there was a lot of talk about how it was going to be the greatest thing, the best thing ever.
but now it's on hold, and he says it could come back. these deals sometimes are always -- they can be on hold because of various reasons, and then they blossom into being occurring. but at this point in time, only such. host: a thing from your article, which by the way, is available online at bloomberg politics. what you just mentioned, using his name, lending his name. how much of it is the trump brand, the name, versus his business expertise and his negotiating skills? guest: yeah, you look at his ability to create a brand from the "apprentice" tv show, and really, he started pushing to go globally and sell that name. in court records, he even talked about his ability to do the deals where he sees it almost like a car factory, where he's going to crank the deals out. he puts his name on the building, perhaps he gets a percentage of the building's profit or sales or management fee, something so that effect. one deal in particular we looked at in panama, the terms of that deal, we found in the bond perspective there, because he took out public debt, but he
was -- it projected that he was going to make $75 million. he got more than $1 million just signing the deal to put his name on the building. host: you write the following, in canada and turkey, his business partners want to cut him loose n. scotland and ireland, he claims to be making millions, but so far is losing. guest: that's an interesting detail there in the u.k. because the u.k. laws there, they have to file their income statements with local regulators. so he's a private businessman, and really, this campaign has been kind of one of the first windows into his business and how it operates. but you can look at the u.k. golf courses and see that he's claimed losses there. yet because of his presidential campaign and ethics requirements, he's posted his personal financial details last summer. when you compare the two, questions arose, because he was claiming large profit -- large income from those facilities. so we asked him, why $20 million in income from these places that are losing lots of money? what's going on?
accounting is complicated, there's lots of ways to do things. and he says, well, that's projected future income. host: what does that mean? guest: these properties are going to do well in the future. host: let's talk about his taxes. it came up in the debate. we'll hear from him in just a moment. but is this one of the reasons why he's reluctant to release them? guest: he has a history -- his history of being a billionaire and the idea of how much his worth -- there's always been discussions about how he calculates that. host: let's hear from donald trump on cnn, the debate, which is re-airing later today, was asked about his tax returns. mr. trump: i was the first one to file a financial disclosure form, almost 100 pages. you don't learn anything about somebody's wealth with a tax return. you learn it from statements. i filed which shows i'm worth over $10 billion. i built a great company with very little debt. people were shocked. people in the back, the reporters, they were shocked when they went down. and i filed it on time.
i did not ask for five 45-day extensions, which i would have been entitled to. as far as that's concerned, i filed it, and that's where you find out what kind of a company -- you don't learn anything a tax return. i will say this, mitt romney looked like a fool which he delayed and delayed and delayed, and harry reid baited him so beautiful. and mitt romney didn't file his return until september 21 of 2012, about a month and a half before the election. and it cost him big. as far as my return, i want to file it, except for many years i've been ought audited every year, 12 years or something like that. every year they audit me, audit me. i have friends that are very wealthy people, they never gets audited. i get audited every year. i will absolutely give my returns, i'm being audited for two or three years, so i can't do it until the audit is finished, obviously, and i think people would understand that. host: donald trump on cnn last
thursday. we'll hear from the i.r.s. commissioner in just a couple of minutes. but your reaction to what he had to say in that debate? guest: yeah, it's fun. it's a fun conversation when you like get into the numbers. i think a lot of people to want see what his tax want to see what his tax returns look like. lots of questions about how his empire has operated. host: does donald trump's bankse deal true global by showing stocks? guest: in most cases he is not putting any money down. at least according to people we talked to. he is really just selling his name. putting the brand on the building. one of his developers was happy to do is deal with him. the developer had to go through bankruptcy reorganization. he said he would not have been able to do the deal is likely without donald trump's name on the building. that helped that developer turn
around and sell those units to small investors, folks who wanted to buy into the building and the trunk lifestyle -- the trump lifestyle. host: why does it take candidates so long to dig into donald trump's past? think he was not a serious candidate? guest: i think there has been lots of stories about donald trump's past not just the cycle going back years and years. some of the stories have been told before but i think what is unique about our story is the putting it all together and the scope you often find some common themes among some of these deals and that is that he gets paid and some folks are unhappy afterwards. host: we are talking with tim higgins of bloomberg news writing about donald trump's overseas ventures and how he is tried to cancel a number of contracts. situation in toronto
example, his partner is unhappy with him and is trying to get out of the deal and he is fighting to stay in the deal and now there is suggestion that perhaps the partner would like to sell or would like to get out of having donald trump involved, holding down the value because he is a manager and they would like to potentially get a different manager. host: chris is joining us from new york, democrats line with tim higgins a bloomberg news. caller: good morning. let's say if donald trump is making all of these deals, the only one coming out ahead is him. what is wrong with that? wherever he goes to make deals with other countries he is going to look out ahead. if these guys do not like it but sign for the deal, i do not see anything wrong with that. rubio and ted cruz, they
are in the senate the two of them. they can tell you they can do so much to improve the country they believe in the constitution. they should be able to do something now. they can't do anything now. they are responsible for what is going on. congress and senate. they can get pretty much what they want to do. i don't see them trying for the regular person. if i take care of somebody, if i give this guy $50 to do something for me he knows when asking for a favor he's going to have to do it. these guys that are behind rubio and ted, millions of dollars, he's going to have to do them some favors done the road. host: thank you for adding your voice to the conversation. guest: he brings up a good point. a side of the story is that donald trump would argue his track record shows when he is negotiating for himself he can do a really good job and get the
best deal for him and he wants to take that savvy to negotiating deals for the u.s. your caller points out here is a guy who knows how to negotiate for himself. he got paid, now the u.s. might perhaps get paid. i put it to mr. trump negotiating so hard what happens if you get the best deal and after the fact our partners are unhappy and he says, politics there is room to make everybody happy. he definitely would be watching up for the u.s. and feels like any deal is better than what we currently have. host: this is from robert, part of your's best he points out that trump is clothing which had been sold in macy's making his neckties in mexico and china. that also came up in the debate. guest: it is interesting. global businessman on real estate deals but he also has these merchandise items that have a global supply chain. perhapsre global than
the typical candidate in the way that he is a businessman and he would say that global executive experience is a benefit. host: george munro saying trump university as a democratic ad goldmine! 5000 people ripped off. $35,000 each for a large cut out of donald trump. guest: definitely is going to be a talking point. he listened to the trump organization and how they have defended trump university. you get to one of your first callers questions. if somebody signed up for this, they signed up by her beware. -- buyer beware. some of the condo owners are small investors, would end up suing. in toronto's case the judge said investor beware because you were
promised by non-trump people another developer that you are going to get x returns and you did not. host: one more tweet saying trump is the ponzi politician. casinos, trump university, all failures with his name. james is joining us from gulf shores alabama online for republicans with tim higgins of bloomberg news. caller: good morning. that i don'to say know what people don't get. we are just fed up. general forians in all the united states. we are sick of the congress and the senate. donald trump is not perfect but none of us are perfect. cast the first stone. what you got to understand is we are fed up with the regular politicians telling us this, telling us that, making us
believe that we are going to do better by electing another politician. we want somebody different that will stand up for us and not just say they're going to stand up and falling the same line. i'm 72 years old. i've opened stores, closed stores. but i'm still in business after 50 years. i am not the richest man in the world like donald trump but i know what the american dream is. people are seeking that. we are sick and tired of people coming into our country illegally. we are sick and tired of being pushed around. we are sick and tired of being sick and tired and that's why the people of america are voting donald trump and he is going to run the table no matter what people like or do not like. perfect, you cast the first stone. host: thanks for the call.
guest: i think you are hearing -- you see the support growing from the disenfranchised feeling out there in the country that the folks in this town in d.c. don't get. what the businessman from illinois i believe is talking about. host: donald trump says his organization is in talks with more than 100 deals. 85% of them outside the united states and that if elected president he will bring to international relations the savvy he has demonstrated as a global dealmaker. but an examination of his operations abroad revealing that while he has made millions selling his name he has chosen a number of inexperienced, even questionable partners, sometimes infuriating buyers and associates and moved late into saturated markets producing less income than advertised. you can read the full essay online at bloomberg politics.com. wayne is joining us from myrtle
beach, south carolina. independent line. caller: first time independent voter. i will be voting for trump. nice program. nice to see the first amendment in action. dams have been in government asked the two democrats of been in government for 30 years and all the do is complain about it. that is the same old. cruz, if cruz was not a politician you'd be used-car salesman. rubio is a kid. a great speaker but a kid. anything the four of them have done. i will take even a dog park. trump, we have a change. we need to change. same old same old is over with. we are fed up with it. trump is the revolution. host: thanks for the call. guest: that is what mr. trump
would argue and he would argue he would bring negotiating skills you do not see from the rear government officials. -- from career government officials. he has been able to negotiate for himself. host: donald will be in madison, alabama live coverage getting underway at 5:00 eastern time on the c-span networks. tomorrow we keep track of the four leading republicans and two democrats in this race. you can watch across the c-span networks. super tuesday gets underway at 7:00 eastern time am a 4:00 for those of you on the west coast. milton is joining us on the line for democrats. what i want to say is that people like your guest do not get it. they are not getting it that donald trump is the bridge over troubled water. exactlying to deliver
everything he said he's going to give and that is what we are working for because we believe he can do some things positively that most politicians can't do. that's my comment. host: thank you. guest: nice to hear from him. as to hear what supporters are saying. i do think it gets to how he has been able to craft his business brand into the political spirit. one of the things i talk to him about, and some ways running for president has affected his business in a negative way. places like this gamble we are told his partners -- play select istanbul -- places alike istanbul. he also says he needs to say what he to say to run for president. in other places his brandish stronger. an interesting -- his brand is stronger. you look at places like china,
cadillac is trying to grow. it has been using its affiliation with the presidents of the past to sell its luxury prowess. in some ways running for president, being one of the front runners of the president of the united states, would project an element of power that is luxury in parts of the world. it will be interesting to see what happens with his brand going forward and how he is able to sell it. host: his name is not too far down the street on pennsylvania avenue. a few blocks from the white house. the old office -- the old building. -- the old post office building. what is his direct involvement in the project and how much money as he put up? guest: a project he has put his money into. one of the unique situations. he has put his money into golf courses in the u.k. a lot of deals we have been talking about have been franchised or licensing deals.
he does still have properties in the u.s.. . moved way into the franchising element in the last two years. host: are you able to estimate how much he is worth? guest: estimations have been done. having ad without clean line of sight into his business. i did not do that for this. it was more of an examination of exactly how his international operations run. what is the value of being a trump brand internationally? one of the things he says one of his -- he could help one of his partners do he talked about how he could go into a country and if the project was having problems getting approvals he would step in and use his name to help those talks and smooth things around. i think the quote he told me was about how they had best about
how the government loved him and he thinks the star wattage allows him to advocate his positions for developers. host: i want to go back to the numbers because you talk about the golf courses. trump international in ireland. he claims he earned about 20 point $3 million -- $30.3 million -- the numbers are not actually correct. he has lost money. guest: income statements filed in the u.k. as part of the regulation there which show losses. i asked him about that and he was defensive of those facilities because he says he is renovating them and improving them and of course they were losing money. but the question i really have is where you claiming income on the other hand and he says, this is forward-looking income. he believes he can unlock a lot of money out of those facilities with housing developments.
host: how much access did you have? where was the interview and how long did you spend with him? guest: i had time with him by telephone on a couple of occasions during his we can south carolina. host: jim is joining us from lafayette, indiana. tim higgins a bloomberg news. good morning. caller: my question is for trump and really all the candidates, what is the relevance of having returns?ide their tax i don't think it matters how much money a candidate makes whether they are republican or democrat. to me it almost looks with a and thosee media opposed to the candidate so they can demonize them based on how much money they make. i don't see a reason for any candidate to have to provide their tax returns to the american public if they are running for president. host: we will get a response.
guest: one of the crucial things we look at. we want to know not necessarily how much money they have where and how they made their money and what they do with the money. the tax rate they pay. you look at the issues they try to avoid or pay fully and it says something about their onetegy and how they view of the basic elements of being a citizen in the country, paying taxes. host: duncan is next. independent line, good morning. caller: thank you for taking my call. i have a comment here about mr. trump. howkind of surprised about senator rubio and there have that haves i guess .allen by the wayside
attempted to speak about mr. trump and how he is really truly not caring -- not carrying himself as a statesman. as someone who should be representing the greatest country, strongest military in the world. with who of character i think we as americans should be wanting to represent us. host: thanks for the call. guest: i think that's the debate. donald trump would say he is the brand -- his brand would be well represented the u.s. host: mary. youngstown, ohio. a democrats line. thank you for joining us. caller: i can't believe i got through the line.
trump.y am against i'm 78 years old. had tosomebody like him launder a lot of money. that's why he got so much money today. i am 78 and i can't even pay a lawyer to go bankruptcy because i have a lot of medical bills and plus i do have a hospitalization. i think if he gets in their. if he gets kasich and their, we will be in bad shape because ohio here, people don't know but jeb bush said one thing about kasich. he did a lot of things that for us in ohio. the federal government -- he got out of the deficit the cause he took away from the poor and middle class people. i hope he does not get in there or we will be in bad shape. host: mary, thank you. argue mr. trump would those were not his personal
bankruptcies. it does illustrate how he goes about business and how he uses the loss at hand. he says he is best usual -- he uses the laws at hand. host: how is he able to use the law? bankruptcy has the connotation of being broke but in business that is not quite the case. guest: a lot of cases you take on a lot of debt. the panama deal for example. his company did not go bankrupt. the company that did to gone a lot of debt, was delayed in opening the facility, opened it eventually when the market was flooded with a lot of other units and the economy was in trouble and ran into a lot of trouble and had to reorganize debts. not totally unusual thing for a development of that scale, talking about the largest,
tallest building in central america. host: this is the headline from bloomberg news. a look inside donald trump's global deals exposes trouble in many spots. reporting of tim higgins and i want to share with you. .-span's newsmakers program the irs commissioner who is asked about donald trump's claim that the reason he is not releasing his tax returns is because of his repeated audits. [video clip] >> donald trump is saying he has been audited almost every year by the irs. i know you cannot talk about somebody's personal taxes, but would somebody be audited every year? he says it is going back almost every year of the obama administration. >> we cannot talk about individual cases but it would be rare for anybody to be audited every year. usually when there is an audit it is cleared up if there are no other issues, a number of years, two or three at least before you
hear from us again, something in her next return pops up. as a matter of formal auditing it would be rare. >> he also says he is not going to release his tax returns while he is being audited. is there something from the irs that forbids him from releasing his tax returns? >> with my caveat that i cannot talk about individual cases, the taxpayer controls his returns. there is nothing in audit process generally that would keep you from sharing that information anyway you want to. >> what do you make of his claim that he needs the audit to be cleared up? >> we stress that we are a tax administration so we have no stake in any of the primaries going on and whatever comments are being made or being made by candidates. from our standpoint, if you are being audited and you want to do something else, share that information with returns, you can do that.
>> he said he thinks he may be audited because he is a strong christian. is that a reason why the irs audits someone? that is something that would never cause you to be audited. are, who care who you you voted for, what party you belong to come up with you go to church or don't go to church. if you hear from us in response to an inquiry, it is about something in your tax return. if somebody else had that same issue in their return, they would hear from us as well with regard to limited resources of course. but it would never be a case that you would be audited because of any religious persuasion you might have. host: the irs commissioner. as you hear that next donation, your reaction? guest: i think the tax issue is another good example of how this campaign cycle is so much different than any other one.
2012, governor romney had this issue where there were complaints that he was not releasing his taxes in an early enough pace. here, mr. trump takes heat on it during the debate but is able to change the media narrative yet again with the announcement of his endorsement. just not as hot an issue as any of the other issues. this program is carried live on the bbc parliament channel so it is midafternoon. i can rejoining us -- thank you for joining us aaron. caller: thank you very much. host: you have a big boat coming up in june, whether or not to stay in the european union. caller: it is a pretty hefty debate at the moment. you have all sorts of splits going on within the conservative party. oninters currently going on the labor side of things as well.
it's going to turn out to be a very interesting debate. host: june 23? caller: it is. all sorts of talk about the timing of it. on,he same day it will be the second day of gloucester bury. about 155,000 people currently attend. stuff.ts of the referendum itself is in debate. a massive day when it comes up. host: what do you think is going to happen? it is quite funny because some of the poll say will come out. some say we will come in, stay in. you can't really tell a this point which makes it exciting to talk about. people are waiting the economic and political benefits.
the migration crisis is turning a few heads about whether to be in or out. -- i wouldf those think it would be bigger than scotland referendum. host: i know you wanted to call in about donald trump. an interesting election and we are following that here. go ahead with your question or comment. nower: donald trump right -- sorry, tim, how are you doing this afternoon? guest: how are you. caller: donald trump seems to be campaigning like google does not exist. through all the stuff i've been looking at, i know he is campaigning on the national viewpoint of winning republicans . if he gets the nomination, and let's say he does become president of the united states, some of the stuff he said in regards to mexicans, muslims,
all sorts of people, even disabled people. as someone with asp burgers syndrome, i take offense -- i take offense to. -- a negotiation before we even get to that point. some of the stuff he says, i highly doubt he will be able to walk some of that back once all the dust is cleared. and when he gets the nomination and if he gets to be president of the united states. host: thank you for adding your voice on the vote taking place in june. we appreciate you joining us this morning. guest: i think you are seeing signs of the rhetoric. a former president taking issue
with the wall donald trump wants to build between the two countries. you think of another campaign with a former president of a country would be engaging with a presidential candidate, it is hard to imagine such a situation. mr. trump used it as almost a bullet point in a debate thing he would hold a wall 10 feet higher now. host: from another viewer saying donald trump is admired in the business world the same way ted cruz is admired in the senate. trip is joining us, wayland, massachusetts. good morning. caller: good morning. the people do both for trump -- do vote for trump, what the rnc decides not to vote for trump and what kind of chaos with that bring if they do not honor with the people want? guest: i think you are talking about a brokered convention. that would be quite the story.
i think mr. trump was tweeting earlier about the commitment he had made to be loyal to the party. there has always been this underlying narrative if he felt like he was not being treated well he would go as an independent. he took the pledge to be a loyal republican but i think that threat has been out there. host: alicia is joining us from des moines, iowa. caller: good morning. i am listening to all of these people who say they are voting for trump because he's going to make america great again. i'm not really sure where that comes from. for anyone who really thinks trump has plans to make america great again, take a look at the documentary "you have been trumped." what trump did been that documentary was, he took people possibly and.
think about -- took people cost land. he tried to take property in you talk about it, i think it was poland where he built that golf course. 86-year-old woman, her family had lived on that farm for four generations. her mother was born on that farm. donald trump did not like the if peoplerm looked from his golf course looked up their windows he thought that is such a trashy place. he offered the woman money come up more money than what he thought the property was worth but to her, her family's history -- and sherm in was not selling it. the: also the issue with casino in atlantic city. guest: eminent domain is one of those issues, it is surprising
how deep the memory is in some places in the rural u.s. were some people can remove or where the family farm was cut up. how it disrupted their livelihood. one of those issues that plays very strongly in certain parts of the country. trump did have support in iowa. host: tim higgins a bloomberg news and his work available online. a look at trump's global deals. >> these bins "washington journal," live every day with news and policy issues that affect you. aming up tomorrow morning, washington post reporter joins us talk about supreme court nominees and how the process could play out. also a senior pentagon correspondent will be on to discuss the cost of the u.s. nuclear arsenal, and when the
price could reach $700 million. be sure to watch c-span's "washington journal" live at seven luck am eastern tomorrow morning. join the discussion. >> our road to the white house coverage continues tomorrow with senator marco rubio speaking to supporters in atlanta, live at 12:30 p.m. eastern on c-span two. ted cruz holdsy, a rally in san antonio with greg abbott and former governor rick perry. that is live at 3:00 eastern on c-span3. donald trump campaigns in georgia tomorrow, making a stop . the event gets underway at six clark p.m. eastern. -- at 6:00 p.m. eastern.
>> president obama recently toward a manufacturing plant in jacksonville, florida, which benefited from the stimulus package he signed into law in 2009. the president spoke to workers about the economy and future investments in energy. this is half an hour. pres. obama: hello, everybody! [applause] pres. obama: please, everybody please have a seat. it is great to be back in jacksonville. [applause] pres. obama: as president, i've been to all 50 states. i have seen some pretty incredible things, but i've also got a bucket list of things i still need to get done.