The Atlantic

Nothing Trump Said Was True

Private companies such as the Trump Organization operate under very lax accounting rules.
Source: Joshua Roberts / Reuters

“We have compiled the accompanying statement of financial condition of Donald J. Trump,” reads part of a two-page disclaimer from the accounting firm Mazars USA. “We have not audited or reviewed the accompanying financial statement and, accordingly, do not express an opinion or provide any assurance about whether the financial statement is in accordance with accounting principles generally accepted in the United States of America.”

This notice, routinely attached to financial statements that Trump used to secure loans and insurance before he became president, amounted to a dry warning that

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