Donald Trump bails Ed McMahon out of foreclosure mess
Donald Trump, the Clown Prince of Capitalism and Chairman of Trump Entertainment Resorts (NASDAQ: TRMP), is back in the news. The Associated Press reports that he'll be bailing out Ed McMahon, the former Johnny Carson sidekick who defaulted on $4.8 million in loans on his Beverly Hills home.
Trump told The Los Angeles Times that he didn't know McMahon personally and is motivated by "compassion. . . When I was at the Wharton School of Business I'd watch him every night. How could this happen?"
Holy cow! When I read this story, I thought "Finally! I'll have a chance to do a nice piece on Donald Trump." Wrong. I am actually going to make history here and bash someone for helping an old man keep his house. First, why Ed McMahon? There are hundreds of thousands of people facing problems with their homes and, rather than quietly helping average Joe's with mortgage payments, Trump goes and spends millions of dollars to help one old rich guy keep his palace -- and then calls The Los Angeles Times to brag about it. Oh, and he had to remind everyone that he went to Wharton.
This act of charity, like everything Donald does, seems to be motivated by narcissism, grandiosity, and a thirst for publicity.
I'm caving into his desire to have his name all over the place, but I'm also calling BS on this billionaire bailout.
Trump told The Los Angeles Times that he didn't know McMahon personally and is motivated by "compassion. . . When I was at the Wharton School of Business I'd watch him every night. How could this happen?"
Holy cow! When I read this story, I thought "Finally! I'll have a chance to do a nice piece on Donald Trump." Wrong. I am actually going to make history here and bash someone for helping an old man keep his house. First, why Ed McMahon? There are hundreds of thousands of people facing problems with their homes and, rather than quietly helping average Joe's with mortgage payments, Trump goes and spends millions of dollars to help one old rich guy keep his palace -- and then calls The Los Angeles Times to brag about it. Oh, and he had to remind everyone that he went to Wharton.
This act of charity, like everything Donald does, seems to be motivated by narcissism, grandiosity, and a thirst for publicity.
I'm caving into his desire to have his name all over the place, but I'm also calling BS on this billionaire bailout.











Reader Comments (Page 1 of 1)
8-15-2008 @ 1:12PM
matt said...
I wish Ed would do some more Mannington floor commercials. I asked my local florist if he carried that brand of flooring. He said 'sorry I don't, I only sell flowers.'
8-15-2008 @ 8:20PM
anniemott said...
Ed McMahon has always been a Johnny Carson wannabe loser who flattered his ugly sellf that those woman loved him and not his celebrity connections.
8-15-2008 @ 2:14PM
L Arango said...
There is always somebody that criticizes a good deed. D. Trump can do with his money whatever he pleases, he can bail out Ed MacMahon, or burn $100 bills, if those are his wishes. He doesn't have to bail out some average Joe, who probably bought a house above his means and now can't pay it.
8-15-2008 @ 2:31PM
Vince said...
Donald is helping Ed ..And you have a problem with that? Zac, you are the one keep bashing Trump and his family for your own publicity!
8-15-2008 @ 2:42PM
Vince said...
Donald is helping Ed ..And you have a problem with that? Zac, you are
the one keep bashing Trump and his family for your own publicity!
8-15-2008 @ 3:09PM
Vince said...
Donald is helping Ed ..And you have a problem with that? Zac, you are
the one keep bashing Trump and his family for your own publicity!
8-15-2008 @ 5:36PM
Kathy said...
Donald..........if you read this, Thank you! What a nice thing to do, let the old fart live out his time in his house. Yes, you'll make money in the end, but its nice to help someone out, no matter what the circumstances are.
I hope you read this.... If you do I have some questions about your show. Don't worry I'm too old to be on it.
8-15-2008 @ 6:20PM
Alex said...
Donald Trump, you are The Man!
You did the right thing.
It's not about money, right or wrong, it's about rescuing an American Icon.
You make every American proud.
Thanks
8-16-2008 @ 5:19PM
Payam said...
Well I agree that Donald just wants everyone to know what he did, but that wasn't his sole motivation. He really did care about McMahon because he was a face to him. The thousands of others in foreclosure are a story without a face; how can you feel compassion for that? Plus, if my thinking of how Donald thinks is correct, to him McMahon is an old man that doesn't deserve this toward the end of his life.
Also, Donald isn't really losing money on this, he's only tying up a few million dollars on a home that he will be able to resell for more than what he bought it once McMahon dies.
8-16-2008 @ 5:25PM
Payam said...
Also, as someone mentioned earlier, he really is an American Icon that all of America knew and liked. To let a symbol like him fall is like killing the country we love.
8-19-2008 @ 8:16PM
Judith Malone said...
My husband and I have been married 40 years and have been pastoring a small church in Maine. My husband has worked 2-3 jobs while we were married and I have when able but I am now disabled. My husband had surgery in December and almost died so is now finding it harder to work as a pastor as well as his other job in the local Medical Center. We did own a house but lost it. So much for all of that. I am just wondering if Mr. Trump bails other people out like Ed McMahon. It sure would help us in the far north. (I am originally from N.J.)
8-31-2008 @ 4:58PM
linda said...
Why Ed McMahon and not some schlub? I think he explained that he enjoyed watching Ed every night (and he threw in that it was at Wharton, which he hopes will impress the 5 people who don't already know he studied there).
If he were to go around giving money to strangers, he'd probably find himself in the position of that church that gave a house to a family who'd lost everything in Katrina (I think) only to have them sell it.
Also, the fact is he HAS paid off the mortgage of regular Joes. I don't remember the exact situation, maybe his limo broke down and somebody came to his rescue, but after some couple helped him in some way, he paid off their mortgage.
Far be it from me to be to be Donald Trump's apologist, but if you're going to tear him down for doing a good deed, at least get the facts straight.
9-14-2008 @ 9:11AM
Kathy said...
i think it is all good and well that he helped that old man out ... however .. i am sure .. that ed .. like other millionaires has more then one mansion to live in .. compassion is a good thing .. but why not help someone who really needs it ..i am sure .. ed is still getting royalties for comercials that are still airing with him in it .. but why bother with the commen man ..
9-14-2008 @ 9:28AM
r said...
Please, Donald Trump, create a list on your website where we can nominate people we know to be on your show.
I know 2 that would be great for their interpersonal skills and huge ego.
9-21-2008 @ 5:05PM
Hally said...
I think Trump should have bailed out Freddie Mac and Fannie Mae--so the CEO's get up each morning and
Say..heeeers'.....Trump or at the least, SEC should have gotten a stipulation from them!
Ps. Ed Mcmahon sold Morris Metric Slicer on the Atlantinc City Board walk... it cuts so thin you could read a paper thru it...I think Trump has softcorner for Mcmahon, because of that connection.