The billionaire financier Tom Barrack was caught in a bind.
.. Mr. Trump’s outspoken hostility to Muslims — epitomized by his call for a ban on Muslim immigrants — was offending the Persian Gulf princes Mr. Barrack had depended on for decades as investors and buyers.
.. Mr. Barrack, a longtime friend who had done business with the ambassador, assured him that Mr. Trump understood the Persian Gulf perspective. “He also has joint ventures in the U.A.E.!” Mr. Barrack wrote in an email on April 26.
.. During the Trump campaign, Mr. Barrack was a top fund-raiser and trusted gatekeeper who opened communications with the Emiratis and Saudis, recommended that the candidate bring on Paul Manafort as campaign manager — and then tried to arrange a secret meeting between Mr. Manafort and the crown prince of Saudi Arabia.
.. Investigators interviewed him in December but asked questions almost exclusively about Mr. Manafort and his associate Rick Gates
.. he has said he rebuffed offers to become treasury secretary or ambassador to Mexico.
.. He sought a role as a special envoy for Middle East economic development
.. Mr. Barrack’s company, known as Colony NorthStar since a merger last year, has raised more than $7 billion in investments since Mr. Trump won the nomination, and 24 percent of that money has come from the Persian Gulf — all from either the U.A.E. or Saudi Arabia
.. Mr. Barrack played as a matchmaker between Mr. Trump and the Persian Gulf princes.
.. “He is the only person I know who the president speaks to as a peer,” said Roger Stone, a veteran Republican operative who has known both men for decades. “Barrack is to Trump as Bebe Rebozo was to Nixon, which is the best friend,”
.. By 2010, he had acquired $70 million of the debt owed by Mr. Trump’s son-in-law, Jared Kushner, on his troubled $1.8 billion purchase of a skyscraper at 666 Fifth Avenue in New York. After a call from Mr. Trump, Mr. Barrack was among a group of lenders who agreed to reduce Mr. Kushner’s obligations to keep him out of bankruptcy.
.. Thomas J. Barrack Jr. and Donald J. Trump first met in the 1980s, and Mr. Barrack got the better of the encounters. He negotiated Mr. Trump into overpaying for two famous assets: a one-fifth stake in the New York department store chain Alexander’s in 1985, and the entire Plaza Hotel in 1988. Mr. Trump paid about $410 million for the Plaza and later lost both properties to creditors.
.. But Mr. Barrack nonetheless parlayed the deals into a lasting friendship, in part by flattering Mr. Trump about his skill as a negotiator.
“He played me like a Steinway piano,” Mr. Barrack recounted in a speech at the Republican convention.
.. people who know him well say he still tells new acquaintances that he is truly honored to meet them, cheerfully doling out superlatives like “first-class,” “amazing” and “brilliant.” He invariably tells the story of his own success as a parable about luck and perseverance, never about talent.
.. He grew up speaking Arabic as the son of Lebanese immigrants to Los Angeles
.. Mr. Barrack wrote back that Mr. Trump was “the king of hyperbole.”
.. “We can turn him to prudence,” Mr. Barrack wrote in an email. “He needs a few really smart Arab minds to whom he can confer — u r at the top of that list!”
.. Mr. Barrack had befriended Mr. Manafort in the 1970s, when they were both living in Beirut and working for Saudi interests.
.. Early in 2016, when Mr. Trump faced the prospect of a contested nomination fight at the Republican convention, Mr. Barrack had recommended Mr. Manafort for the job of campaign manager. “The most experienced and lethal of managers” and “a killer,” Mr. Barrack called him in a letter to Mr. Trump.
.. The Saudi prince had tried to reach the Trump campaign through “a midlevel person” at the rival private equity giant Blackstone
.. Mr. Barrack forwarded to the ambassador a message from Mr. Manafort with a “clarification” that modulated Mr. Trump’s call for a Muslim ban.
.. Mr. Barrack informed Ambassador Otaiba that the Trump team had also removed a proposed Republican platform provision inserted to “embarrass” Saudi Arabia. The provision had called for the release of redacted pages about the kingdom in a report on the terrorist attacks of Sept. 11, 2001.
.. When those two states imposed an embargo on their neighbor Qatar — home to a major United States air base — Mr. Trump broke with his own administration to throw his weight squarely behind the Saudis and Emiratis.
.. Until recently, Mr. Barrack’s most prominent Gulf customers were neither the Emiratis nor the Saudis — but their bitter rivals the Qataris
.. None of the Gulf investments that Mr. Barrack’s company has brought in since Mr. Trump’s nomination have come from Qatar.
another take is that it’s the Plaza Redux, meaning the 1988 real estate debacle in which Trump hastily purchased New York’s Plaza Hotel because it looked like an irresistible trophy, only to be forced to sell it at a loss a few years later as part of a brutal debt restructuring.
.. “Like Reagan, he seems to sense that the nuclear technicalities matter less than the political relationship.”
.. First, Trump isn’t Reagan.
- Reagan generally acted in concert with allies. Trump brazenly acts against them.
- Reagan’s negotiation method: “Trust but verify.” Trump’s self-declared method: “My touch, my feel.”
- Reagan refused to give in to Soviet demands that he abandon the Strategic Defense Initiative. Trump surrendered immediately to Pyongyang’s long-held insistence that the U.S. suspend military exercises with South Korea while getting nothing in return.
- Reagan’s aim was to topple Communist Party rule in Moscow. Trump’s is to preserve it in Pyongyang.
Second, Kim isn’t Gorbachev.
- Gorbachev was born into a family that suffered acutely the horrors of Stalinism. Kim was born into a family that starved its own people.
- Gorbachev rose through the ranks as a technocrat with no background in the regime’s security apparatus. Kim consolidated his rule by murdering his uncle, half brother and various ministers, among other unfortunates.
- Gorbachev came to office intent on easing political repression at home and defusing tensions with the West. Kim spent his first six years doing precisely the opposite.
As Trump himself might say, there’s something going on.
The less honest you are with yourself, the less likely you are to laugh.
.. “There’s a huge correlation showing that people who score high in self-deception laugh less,” Lynch told me. Furthermore, he said, “there’s a pretty robust correlation between self-deception and an inflated ego, or unwarranted high self-esteem. Some of the self-deception is telling yourself that you’re greater, more powerful, smarter than you are.”.. It’s a lot harder to laugh when you don’t recognize absurdity. Think of how much Trump must have had to lie to himself, perhaps even unconsciously, in order to convince millions that Obama was born in Kenya.. (By the way, the liars-laugh-less formulation doesn’t work in reverse: People who don’t laugh aren’t necessarily self-deceptive or narcissistic at all... some people don’t laugh out of low self-esteem. “Self-deception,” Lynch estimates, “explains about 20 percent of why people don’t laugh.” Besides, if we didn’t tell ourselves little white lies, he adds, “we wouldn’t get out of the bed in the morning.”).. “Superficially, the problem that torments Trump is trade. But his language—they ‘beat’ us and ‘laugh’ at us—provokes the emotional power of shame,”.. “all about shame—avoiding it himself, and inflicting it on others.”.. As his biographer, I see it in his struggle to satisfy a strict and demanding father and his banishment, at age 13, to a military academy in Upstate New York where, Trump has said, he was subject to violence at the hands of Army veterans who staffed the school... Trump was major-shamed again, D’Antonio writes, “when he lost his Trump Airline and the Plaza Hotel and became a symbol of failure in the late 1980s and early 1990s. Out of this defeat he fashioned a comeback that saw him become richer and more famous than ever.”.. At the 2011 White House Correspondents Dinner, for example, President Obama coolly humiliated the birther-in-chief, getting the crowd and soon the whole world to laugh at him, while Trump sat there stone-faced. In all likelihood, that experience motivated him to finally make a real run for the presidency... As best we can tell, Trump’s whole psychological dynamic might be explained as a serial encounter with public shame over his fear of inadequacy... Like Dostoevsky’s The Gambler, Trump likes the thrill of getting so close to being exposed and still winning—until, of course, he finally loses, which may be what he really wants.. “laughter relieves shame.” Laughing, especially at oneself, “is one of the main ways in which shame can be dissipated or released.”
.. took control of Michael Jackson’s Neverland ranch in 2008.
.. Mr. Barrack helped out Annie Leibovitz, a photographer famous for her work with musicians and movie stars, a few years ago by buying out her millions of dollars of debt. He then helped her raise the money back by promoting exhibits of her work and sales of limited-edition prints.
.. The Weinstein Co. deal appears to be a variant of the Barrack playbook of providing much-needed capital to companies or people in exchange for greater control over their holdings.
.. Financier Steven Mnuchin, now the Treasury secretary, was a Hollywood player who co-financed movies through his RatPac-Dune Entertainment LLC venture.
.. Mr. Mnuchin’s executive-producer credit has appeared on recent movies like “The Accountant” and “Wonder Woman.”
.. President Donald Trump... Mr. Barrack was a major fundraiser for Mr. Trump and served as chairman of the president’s inauguration committee... Mr. Barrack founded Colony Capital in 1991 to buy defaulted real-estate loans during the savings-and-loan crisis. He built his fortune over the years by acquiring property in the U.S., Europe and the Middle East.