It shows that he has no concern for the banks’ depositors or shareholders, and it makes you wonder how seriously he takes commitments he makes. As per his style, his book trashed any bankers who actually tried to hold him to his word.
like the bible says, the one who presents his case seems right until another one challenges him.
trump has troubles and rough edges. however this is a minor situation of one of his few ventures that suffered — over 90% did just fine. he got a restructure, meaning the depositors and shareholders did far better than if they had taken a bath. a lot of lenders could fervently wish that a borrower failure like this was the worst one they had ever had to weather.
Again in the crisis of the early nineties plenty of big banks got ‘friendly help’ from the feds in order to stave off their demise as the crisis caused many to all but die off and let's not forget about the bailouts in 2008 when we gave them TRILLIONS of dollars.
Screw the big banks. Most should be broken up as they are too big to fail causing too much incentive to act recklessly knowing the government could never afford to let them die.