What about those 15 years of experience in the financial industry? According to documents obtained by Money from the New York State Banking Department, Ridings’ first job in the financial services industry was his brief time as a broker at Morgan Stanley in late 1998. The documents also say he was a day trader for two years, and worked at subprime lending firm Equity Funding for one year before joining GuardHill.
Piss poor performance can get you noticed.
And Trump Mortgage has fallen short of Ridings’ earlier forecasts. At the time of the company’s launch, Ridings predicted the company would complete $3 billion in loans in 2006, much of it in residential lending. Now Ridings says, “Trump Mortgage anticipated doing close to $1 billion in residential mortgages, but that figure may not be reached by the end of this year.”
Taking bets on how long he lasts not that he’s been sussed.