Posted on 01/22/2016 5:14:15 AM PST by justlittleoleme
The Washington Post has a very in-depth report tonight about his role in the bankruptcy of his Taj Mahal Atlantic City casino back in 1991. They concluded that Trump has repeatedly “play[ed] down his personal role” in its downfall.
And Trump responded by warning the paper he might sue them.
The Post––which chronicles Trump’s history in the casino business––obtained documents showing plenty of the people he interacted with at the time were very bitter because of unfulfilled promises.
At one point, the report features Trump’s testimony before the Casino Control Commission years before, in which he argued to get a casino license. He said at one point, “It’s easier to finance if Donald Trump owns it. With me, they know there’s a certainty they would get their interest.”
And when asked if anything could go wrong, Trump mused, “We can have a depression. The world could collapse. We could have World War III. I mean, a lot of things can go wrong. I don’t think they will.”
The Taj opened in 1990, but in July 1991 the casino filed for Chapter 11 bankruptcy. And Trump had reportedly described himself as the “sole shareholder.”
Trump defended himself in a recent interview with WaPo, saying that his casinos were not the only ones that suffered at that time, and things got, well, very Trump-ian at one point:
He said the bankruptcy was the result of external forces beyond his control, specifically an extremely bad economy in 1990. He said he had “the prerogative” to change his mind about using junk bonds in the financing.
“I didn’t want to have any personal liability, so I used junk bonds. I accept the blame for that, but I would do it again,” he said. But Trump vehemently denied that the deal represented a personal failing or affected his personal wealth.
“This was not personal. This was a corporate deal,” he said. “If you write this one, I’m suing you.”
You can read the full WaPo report here.
Thus destroying several false cult memes, including, “everyone who works with him has a good experience, “ and, “he’s a business genius,” and “he got out of Atlantic City before it was no longer a good place for business” (there are still profitable casino operators in Atlantic City, but trump is not one.)
That’s what he always does. hahahaha!
I’m not hitting Cruz on his birth. He’s not eligible but that’s already been mitigated by Omuslim so I think Cruz should be allowed to run.
Hope and change. But in which direction? Sure, he’ll fight. But he won’t just fight “the bad guys.” He’s a bull in a china shop. And I don’t think we want *everything* broken. That would lead to anarchy, and then a king.
+1
In 2014, Raphael Cruz joined the NRSC at the behest of Mitch McConnell.
During the flat out fraud and betrayal by the NRSC to save their GOP-E Senator vs Chris McDaniels in Mississippi, Raphael Cruz remained silent.
IMO, that demonstrates Raphael’s true GOP-Establishment heart and may have been the final straw that caused Sarah Palin to endorse Trump.
Not surprising, Raphael Cruz continues to align himself with Glenn Beck, the amnesty lovin’ kook and shamster.
As an aside, Willie Robertson endorsed Trump yesterday in Las Vegas at the gun show.
...”he won’t just fight “the bad guys.†He’s a bull in a china shop. And I don’t think we want *everything* broken. That would lead to anarchy, and then a king.”......
I think that’s his intention.
Now some folks here are siding with the msm as if they are truthful when it comes to a hit piece on Trump. You belive the WaPo?
But, I said Trump is. He is using the same protections for those attacks the Washington Post is using for theirs on him.
His lawsuit threat to them in the midst of pounding Cruz on a personal issue (birth time conference of a dual citizenship is not a policy stance) is disengiuous at best.
Trump's business dealings are his track record. They are just as legitimate a target for scrutiny as Cruz's Senate record. That is where the battle should be.
If Trump has legal grounds to sue that is his right.
They have a LOT more on The Don they’re holding back. The media hammered Romney night and day for being a “one percenter” an TRUMP has 10 times his wealth. The MSM hasn’t even started reporting what they have on him. Not to mention the lies they’ll slander him with, like when dingy Harry said Romney hadn’t paid his taxes for10 years and they repeated that lie for months.
Precedent is against him in the courts. But you are OK with wanting to use the government via legal intimidation to suppress dissent?
Obama used that tactic on the campaign trail with the record sealing. Several tea party aligned 501(c) organizations contend he continues to use it against his detractors, at lest thru the 2012 elections.
We collectively railed against that. Are you OK with the method now?
Trump plays to win. Sometimes that involves using attorneys. Good.
The Cruzbots have totally lost their minds. If Cruz does not win Iowa they are going to be jumping out of their basement windows. LOL!
If you are thinking that the GOPe or the Dems are holding back any damaging info on Trump you’re dreaming. If they had it they would have played it.
I’m not a lawyer and obviously neither are you. If Trump decides he has legal redress in court for libel he has every right to pursue it.
This is actually getting scary.
He does not appear to be a man who can handle any criticism without firing all his guns.
Is this the temperament we want in a Commander in Chief?
Just asking.
Trump has been divorced twice and has gone bankrupt four times. I question the sanity of anyone that says this man has the good judgement required to be President.
I knew Trump’s New Jersey casinos were going to go belly-up when I learned that they had gone completely smoke-free, before the tobacco-banning madness gripped everyone else.
Trump hates tobacco, and decided to make his casinos reflect that hatred. Casinos are where people used to go to indulge in many vices that they couldn’t otherwise, like drinking, smoking, and gambling. If you start taking vices away from casinos, you start to see an exodus of customers.
Trump had a right to do so, of course, just like his casinos could close down. Free markets, provide the customer with what he/she wants, you know?
Where Trump made his big mistake in that regard was forcing other NJ casinos to go smoke-free via crony capitalism, causing their failures as well.
Using government to force your competitors to follow your rules is not true capitalist, it’s more along the lines of what Cleon Skousen wrote about in “The Naked Capitalist”.
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