News · Press Release

Central Valley Republicans Must Defend Trump’s Recession Profiteering

New evidence has surfaced that GOP Presidential nominee Donald Trump not only rooted for a housing market collapse for his own corporate benefit, but actually may have contributed to the 2008 financial crisis. In response last night, Trump not only acknowledged this behavior, he doubled down and said, “Frankly, this is the kind of thinking our country needs – understanding how to get a good result out of a very bad and sad situation.”

The housing market crash and 2008 economic crisis had a particularly devastating impact in California’s Central Valley and vulnerable Republicans Jeff Denham and David Valadao, who have vowed to support Trump must defend the fact that their party’s standard-bearer both helped cause the crisis that hurt so many Valley families and cheered it on so he could profit.

“Donald Trump is the worst kind of corporate vulture who cheered on, and potentially engaged in, the housing market collapse that hurt countless families in the Central Valley,” said Barb Solish of the DCCC. “Denham and Valadao are running on the Trump Ticket, and must now defend their party’s standard-bearer’s greed and recklessness at the expense of hardworking Central Valley families.”

According to NBC: “Donald Trump counseled Trump University students to take advantage of the housing bubble as an investment opportunity and said, just a year before it burst, that he was ‘excited’ for it to end because of the money he’d make.” CNN also reported, “Two years before the housing market collapsed in 2008 and millions of Americans lost their homes, Donald Trump said he was hoping for a crash. ‘I sort of hope that happens because then people like me would go in and buy,’ Trump said in a 2006 audiobook from Trump University.”

What’s worse, Trump not only cheered on the crash, he helped cause it. According to the Washington Post, “Trump Mortgage approved subprime mortgages to unqualified borrowers. The mortgages were one of the key financial instruments linked to the crash.”





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