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True (personal bankruptcy), although to the creditors that lost money, it probably did not make them feel better to know that Mr. Trump's personal assets were safe, while the companies he led went under.
Let us recall a man of character, Samuel Clemens, or "Mark Twain", whom I like to cite.
Mr. Clemens once got into dire financial difficulties. Many of his friends and advisors recommended that he declare bankruptcy. He did so. However, he also declared that none of his creditors would lose a dime. He divested himself of most of his personal assets, but retaining his copyrights (as per agreement with the creditors), and spent the next three years circling the globe to earn money to pay his creditors back (he was 66 when he started the tour, considered an old man in those days).
At the end of those three years, Mr. Twain had paid back every dime he owed. He knew that, as a writer and observer of the human condition, his stock in trade was his integrity, and he was determined to keep it.
To descend into a financial state where your corporation (a legal entity created to limit liability, after all) must resort to bankruptcy, can be seen as unfortunate, for the first filing.
If the same person files for a second bankruptcy, eyebrows must be raised. Third time? Fourth time? Fifth time? Sixth time?
After six times, it is no longer a series of unfortunate events. It starts to smell of a continuing criminal enterprise. Something smells rotten.
I don't think you are that smart being a lawyer and all. Really I don't. You don't even understand that those were not the same business ventures that BK was claimed on.
I mean, trump is clearly a loudmouthed, sleazy character. Who can have heard him speak and think different? Not reasonable people.
On top of that, he has a lifelong career as a well-known and admitted fraud, liar, cheat and scam artist.
What could go wrong electing someone like that to be leader of the nation?
Everything you just attributed to Trump is EXACTLY the Progressives of today. Dishonest snake oil salesmen that would sell their own mothers into prostitution if it meant getting what was desired in the end.
Everything you just attributed to Trump is EXACTLY the Progressives of today. Dishonest snake oil salesmen that would sell their own mothers into prostitution if it meant getting what was desired in the end.
Then why do people keep electing Democrats and Republicans? Either way, we are just perpetuating corruption and shooting ourselves in our own foot. They both behave this way all too often.
And yet you enjoy paying taxes to an entity that is swimming in debt, incompetent, and couldn't finish one of its over-priced projects on time if you gave them a deadline of eternity.
What are you talking about...I pay very little taxes at this later part of my life. Don't want to OWN much at all as it becomes to OWN you.
I don't think you are that smart being a lawyer and all. Really I don't. You don't even understand that those were not the same business ventures that BK was claimed on.
I did not claim that all six bankruptcies were for the same business. However, I will observe that all were within the same industry.
Let us quickly review them:
1. Trump Taj Mahah: 1991, casino.
2. Trump Castle: 1992, casino.
3. Trump Plaza and Casino: 1992.
4. Plaza Hotel: 1992.
5. Trump Hotels and Casinos Resorts: 2004. This was actually a second time around for several prior casinos that had regrouped under bankruptcy, including Trump Taj Mahal and Trump Plaza Casino, as well as some riverboat casino.
6. Trump Entertainment Resorts: 2009. Again, this was formerly the Trump Hotels and Casinos Resorts, with a new name after coming to an agreement with creditors to continue business.
Now, it is well known that Mr. Trump was jumping into a business he did not know how to run, and during tough economic times. However, this string of bankruptcies obviously hurt a lot of creditors along the way.
I will note that there were other casino owners that have weathered the economic downturns of the past, like Mr. Trump's friend, Sheldon Adelson.
He came close to bankruptcy on other occasions, such as Trump Airline, Trump Magazine, and the appalling Trump Mortgage. Indeed, if not for the settlement, Trump University may have filed for bankruptcy.
His wheelhouse is New York real estate. Otherwise........
He came close to bankruptcy on other occasions, such as Trump Airline, Trump Magazine, and the appalling Trump Mortgage. Indeed, if not for the settlement, Trump University may have filed for bankruptcy.
Trump walked away from Trump Airlines when the banks repo'd it for non payment of loans, and they later sold it at a loss. Just because Trump didn't go bankrupt doesn't mean that he doesn't leave debt and victims in his wake.
Trump walked away from Trump Airlines when the banks repo'd it for non payment of loans, and they later sold it at a loss. Just because Trump didn't go bankrupt doesn't mean that he doesn't leave debt and victims in his wake.
Lol... big bank lenders charging risk adjusted interest rates are not "victims".
who declared bankruptcy at least 6 times? Putin and the Russian Mafia that is who/whom.
Wake up all you who are asleep.
Exactly. He apparently turned to the Russians because American lenders understood what a bad bet Trump was. But the Russians were shrewd enough to understand it could pay off for them in other ways.
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