Posted on 02/12/2016 9:07:05 AM PST by AndyJackson
We don't know the details of the terms except that generally Trump lost a significant part of his personal stake in each.
We keep hearing slams against Trump for stiffing his bankers. Here are the details.
No risk, no reward. The guy has hit a lot more home runs than strike outs.
The habitual liars at Polticfax are now “credible” because they say something “conservative” campaign bots what to hear?
It is simply "facts." If the facts as related are incorrect, then please cite a source and correct them.
campaign bots what to hear?
What they hope to hear:
prez hil edmund clinton/snarky(me)
Trump's four bankruptcies were Chapter 11 reorganizations (named for its location in federal bankruptcy code), which are designed to restructure businesses without shutting them down completely. The purpose is to "save" the business, as opposed to other forms of bankruptcy which would liquidate the company, said Michael Venditto, a partner at the ReedSmith law firm who has extensive experience with Chapter 11.
In other words, no one was stiffed out of money. Everyone was paid. Trump paid. Despite these business losses, the built an empire worth billions.
Reorganization Chapter 11 is NOT 'Walk Away from Problems Chapter 7'.
Having worked in real estate before, during and after the crash, I have very little sympathy for the banks.
On several occasions, rather than act on the short sale of a property, they actively pushed the homeowner into bankruptcy.
In once instance, I had $150,000 in cash sitting at a title company to purchase the home but Chase & Wells Fargo decided to allow the home to go to auction instead because the price point of the home wasn't worth their time.
The house sold at auction for something like $80,000.
In another case, USAA would not work with the home owner to let him out of the mortgage and said they would simply add any deficiency from the mortgage to his credit cards.
At the time, USAA stood to lose a few thousand dollars at the most. Instead, the homeowner filed bankruptcy causing USAA to lose much more.
IMO, some of the banks should have been allowed to fail.
He had his own money on the line, and lost money, and other assets in these bankruptcies. Presumably the banks got their money at the end of the day.
I don’t see it as a negative that Trump has experience with Chapter 11 reorganization. This whole country is headed into Chapter 11, so the more experience the better. LOL
By your sources you are know. You want to get in bed with habitual liars, don’t be surprised your reputation picks up fleas.
The question in my mind is how did Trump’s experience during that period of time and in that industry compare with others.
I am going for Cruz but Trump is right on this one.
He didn’t go to uncle sugar for bailouts like obozo’s crony capitalists like government motors and AIG did, either.
any media person who criticizes a legitimate business owner who puts their money on the line and makes like they could do better should quit their job and prove it.
Politicians who obtain and spend other peoples money would not last 2 minutes if they had to prove they make sound decisions, and never exceed budgets, and always deliver stellar returns on money received.
sound bite’s wont work with The Donald as he will Bite Back...
So Bankruptcy is a sign of a business man with good business judgement?
wow the spin is getting better and better
I’m a Cruz supporter and Trump’s bankruptcies have never bothered me one little bit. Capitalism requires a risk of failure along with a chance of success.
Name me a poker player that has never lost a hand. Sometimes you make bad decisions in business, and sometimes you just can’t win a hand you are dealt.
No big deal.
Precisely the point. While we don't have the final details on all of the restructuring, generally Trump would have gotten longer to pay off the loan and lower interest rates (which the bank would have been happy to have given the lousy business environment they faced).
They can write off a bankruptcy.
I like Cruz, but Carly should go write another love letter and speech to muslims, and give it a few weeks after the next big attack like she did after 9/11.
while i was giving blood and firemen friends were dying.
it’s true. Look it up. She’s filth.
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