Posted on 02/16/2016 11:04:05 AM PST by reaganaut1
The POINT is not to demean him. The POINT IS HE IS DENYING IT.. as in Lieing?? When you call someone a Liar in every other breath, and you can’t face truth yourself... THAT is the problem as I see it.
Misleading--the average reader understands the term "bankruptcy" to be the kind of asset liquidation and debt retirement contemplated by a Chapter 13 proceeding. Trump has never done that.
The purpose of Chapter 11 is to keep people like Trump out of Chapter 13? Wrong again.
When a business enterprise has continuing enterprise value which permits it to pay all its bills on a current operating basis, the general credit problem is cost of capital. Eleven is a device to provide for restructuring of the capital structure of the entity to permit it to continue operations, preserving jobs and productivity.
An eleven is part of the legal system in place when the enterprise borrowed the money; the lender knows if there is a payment problem, eleven exists as part of the solution.
And this fiction generally about "excessive debt" and the fact that the individual owner of a business borrower is at fault for having too much of it is also incorrect in the modern world.
The lending institution has a decision to make about loaning money to an entity--the fault for excessive debt is usually the greed of the lender who takes the risk of a reorganization proceeding when the enterprise is not as successful as the lender wished for.
In most cases, absent a Chapter 11 solution, the lender gets the business back and lacking the management capability to continue to operate, liquidates the assets and closes the doors.
There may be lots of reasons not to like Trump or not to vote for him but this is just not one of them.
Wow. This may even rise to the level of slander.
They address that the “chapter” was Chapter 11, even saying that “[b]ut of course one of the purposes of Chapter 11 bankruptcy is to keep men such as Donald Trump out of Chapter 13 bankruptcy.”
Then they talk about “Trump’s first bankruptcy” etc.
Hello, National Review, you GOPe pimps, the bankruptcy of a BUSINESS is NOT the same as the bankruptcy of the business OWNER(S).
Any first year law student knows this.
Don’t think so...
The country is almost bankrupt, Trump obviously has bankruptcy experience, so he’ll fit into Washington, DC, with his friends Pelosi, Schumer and Reid very well.
Yah, I know, “He’ll build a wall!”
Man isn’t that the truth! Post of the year!
If the personal debt was incurred in furtherance of this business, rolling it into a Chapter 11 re-org is perfectly legitimate.
If the personal debt wasn’t, I doubt that the creditors WHO HAD TO AGREE WITH THE REORG PLAN and the Bankruptcy Judge would have allowed it.
And if they did, that’s again because THEY AGREED TO THE PLAN.
So your comment is just blather.
4 Million GOP voters stayed at Home National Review
I tweeted out an idea for an anti-Trump ad to some of the Republican SuperPACs...title: “Gambling on Trump.” Show a casino dealer dealing cards and as they hit the table, play a clip of Trump on the face of each card showing Trump’s flip-flops. Cruz’s PAC already favorited my Tweet. :D
If this takes off it could be the Kerry windsurfing ad of this campaign. ;) Gambling on Trump...where the odds are never in your favor.
Same place Trump admitted to donating to to curry favor with the liberals to advance his personal empire.
Independent thought - try it some time.
He isn’t denying it.
In fact, he has talked about ‘doing a number’ on the banks in one of the bankruptcies.
as a favor to a friend, he had tried to work it out with them, they refused, so Trump bought the company from his friend, tried once more to get the banks on board. They again refused, so he filed for bankruptcy for the company.
What’s really happening here is that the writer is trying to confuse the readers, and, naturally, lie to the readers.
(1) You're citing National Review!
(2) So what, he's leading in the polls.
(3) He's a freaking Billionaire who used the available laws to his advantage as any of us would have if we were in his shoes (or could afford to rent his shoes for a day).
He hasn’t needed to because he has rolled personal debt into the corporate bankruptcies.
+++++++++
that’s a new angle.
Got anything to support that assertion?
This whole wrestling match over which Chapter of bankruptcy is the worst is beside the point. The point is that four times now, Trump has lawn darted a business concern of his, giving his investors and creditors haircuts. At least two of the BRs were for the same type of over leveraged financing misadventures that scream volumes about his poor mathematical acumen if nothing else.
The article did notsay Trump filed for personal bankruptcy. It said Trump decided to file bankruptcy for four of his businesses. Trump’s decision to place those businesses into bankruptcy was because of his stupid business decisions in creating them and running them into the ground.
I’ve been a FReeper for 16 years and for the last 8 years it has come up that we’ve got to start playing by the left’s - effective - tactics.
Over and over again.
The ‘high road’ doesn’t get us crap.
It hasn’t gotten us anything. Even when we win, we lose. The people who we elect just ‘reach across the aisle’ and screw us - the American people - over and over again.
For eight years, we’ve talked about fighting smarter and now we’ve got a guy who’s doing it and it’s a bad thing?
No. It’s not.
Now: In an interview with Bloomberg Politics in January, Trump said, "I'm pro-life and I have been pro-life." He said he believed there should be exceptions in cases of rape, incest or the life of the mother.
Now: At the 2015 NRA-ILA Leadership Forum, Trump said if he became president, "the 2nd Amendment will be totally protected." He told the Web site Ammoland he does "not support expanding background checks" and said current background checks "don't work."
Now:Â On NBC on Wednesday, he called Clinton "the worst secretary of state in the history of our nation" and said she would be "a terrible president."
Now:Â Has been a registered Republican since 2009.
There are also some flips which haven't necessarily been from left to right.
Now:Â On Fox News's "On The Record" this week, he called Bush "pathetic" for his support of Common Core, said his immigration views were "baby stuff."
And their is certainly no denying he lied to his family and his wives. Trump has bragged about hissexual conquests outside his marriage, even with wives of other men. Yeah, that’s real honesty and character.
Trump is certainly one of those exceptions. Morality and innocence should never be mentioned in the same sentence as Trump.
For anyone who has never done commercial real estate this may be a surprise.
Trump comes in with a thin sliver of equity, or maybe none. He forms a company to build a huge building.
The banks lend almost 100% of the capital to the Trump company on a Non-Recourse basis to build the building. Non-recourse means Trump does not have to use his personal wealth to repay the loan. Meaning that if the project collapses, and there are no tenants nor customers, the loan defaults and the banks get the building back. All the parties know what they are doing. They did it many times and 4 times they wound up with the keys to a building. The successful times Trump made a lot of money, almost an infinite return because he put almost nothing down.
The banks even wanted to use his name after bankruptcy, because it brought in business.
People ought to relax. The banks were the fools here, on multiple times. They made money with Trump and lost it.
Life goes on. Real estate is a risky business, if you do not have long term leases with strong credits the cash flow can collapse and the loan defaults. A casino, by definition has no long term contracts, therefore it is a high risk business. The Trump name will attract gamblers, and that is how the banks looked at it.
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