Fred C. Trump, father of developer and presidential candidate Donald J. Trump, ran his business in a way very different from his son's,
the
Washington Post
reported.
Fred Trump, who died in 1999 at age 93, built housing for lower-middle class people in New York's outer boroughs, while Donald builds luxury towers for the elite. “While the son spares no expense, the father counted pennies,” the
Post
article said.
And although presidential candidate Donald Trump attacks government spending, “The elder Trump's fortunes came, in large part, by leveraging public programs to spur housing,” the
Post
report noted. Fred Trump built Federal Housing Administration-backed apartments and projects financed through public bonds issued by the state. (Source:
Washington Post
, Aug. 10, 2015.)
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