We here a lot about Trump "stiffing" his bankers. Here is the story. The bankrupties were Chapter 11 - protection from creditors while reorganizing not Chapter 7 liquidation.

We don't know the details of the terms except that generally Trump lost a significant part of his personal stake in each.

To me the more interesting question is Trump’s decision to be in the casino business in the first place. The “gaming industry” is legalized grifting, not known for attracting towering men of integrity. Owning casinos actually says something about a person’s character imo.

Re: “We hear a lot about Trump “stiffing” his bankers...We don’t know the details of the terms except that generally Trump lost a significant part of his personal stake in each.”

Are you claiming that the bankers and other creditors were paid in full after Trump surrendered some, or all, of his equity in these four companies?

I hope not!

If the creditors were paid in full, they would not have gone to court and wasted millions of dollars in legal fees trying to collect.

Since Trump is now worth $4 billion, and since he is now running president, why has Trump failed to do the right thing?

(1) He should publicly disclose the terms of his four bankruptcies.

(2) And Trump should promise to repay every creditor exactly what he still owes them.

In my opinion, unless Trump does those two things, he is morally unfit to be president.

I remember him going bankrupt when he was divorcing his first wife. I've always wondered about the timing!

By the way, that 2008 recession hit all casinos hard not just Trump.

The Venetian had to get a cash infusion from Adelson and Randy Black in Mesquite, NV lost 95% of his stake in Mesquite operations.

It was so bad that Wynn Resorts sent us an offer to all Amex Platinum cardholder to stay for free with FREE FOOD
in the spring of 2009. We did it.

What was Obama doing at the time? Criticising Las Vegas. Obama sure knows how to throw gasoline on a fire.

Those casino workers got crushed.

http://hotair.com/archives/2010/02/03/las-vegas-mayor-obama-is-a-real-slow-learner/

Anyone in business for any length of time soon learns..

"you win some.. you lose some.. and some get rained out"

Fourth Time's A Charm: How Donald Trump Made Bankruptcy Work For Him

The Chapter 11 form of bankruptcy allows the company to keep operating, protecting the jobs of the little people -- the waiters, cleaners, dealers, chefs, cooks, valets, managers, etc. The loss is in projected revenues, and is shared by all the investors.

Best short summary by lawyers on this.

DONALD TRUMP HAS NEVER FILED PERSONAL BANKRUPTCY. NONE of the hundreds of companies he acquired ever filed liquidation bankruptcy. FOUR of them filed for REORGANIZATION where the creditors AGREE to a repayment plan.
Let an expert explain it to you.

Law Dictionary: How is Donald Trump Able to File for Bankruptcy So Many Times?
http://thelawdictionary.org/article/how-is-donald-trump-able-to-file-for-bankruptcy-so-many-times/

Written by James Hirby Fact checked by The Law Dictionary staff

People might ask “How is Donald Trump able to file for bankruptcy so many times?” The answer is “He didn’t.” Trump himself has never filed for bankruptcy. His corporations have filed for Chapter 11 bankruptcy four times. By filing for Chapter 11 bankruptcy, the corporation is allowed to continue running while restructuring and reducing its debt. By allowing the business to continue, employees still have their jobs and the business is still making money. Corporate debts still need to be repaid but they may be reduced. The corporation must develop a repayment plan and corporate budget. Both must be approved by the creditors and by the bankruptcy court.

And now he is working toward a position where he can add the United States of America to the list.

PolitiFact Is Guilty of Fact Abuse

You’ve got to give the leftist reporters in our mainstream media credit. They never tire of trying to reassure the public that their biased stories are without bias. The latest, and arguably most effective, innovation lets the MSM set the terms of acceptable debate by defining what is true and what is false in political discussions.

This is accomplished through the use of “fact checkers” that are marketed to the public as totally unbiased, scientific data crunchers that are only interested in truth, justice, and The American Way. The reality is these “fact checkers” have their thumb on the scale of truth and actively tilt the discussion toward the left by disparaging conservative issues and elected officials.

PolitiFact is owned by the Tampa Bay Times and modestly describes its mission as “fact-checking U.S. politics” and boasts that it was awarded the Pulitzer Prize — a giant pat-on-the-back the MSM gives itself.

Bryan White, who operates the blog PolitiFactBias, did an analysis and according to Human Events found “PolitiFact is not that honest fact-checker. Once widely regarded as a unique, rigorous, and reasonably independent investigator of political claims, PolitiFact now declares conservatives wrong three times more often than liberals. More pointedly, the journalism organization concludes that conservatives have flat-out lied nine times more often than liberals.

In the three years since the end of the partnership with CQ, PolitiFact has found a total of 323 conservative claims to be untrue, with 119 of those getting Pants on Fire.

In the same time, it’s found 105 liberal claims to be untrue, with just 13 deemed Pants on Fire, according to White’s tally.”

PolitiFact tips the scales leftward in two important ways: first by what the fact twisters choose to study and two, by how it interprets what the individual said, up to and including putting words in their mouths.

Special:

Nothing escapes the gimlet eye of these fact twisters, including humor.

Breitbart News provides the latest example of fact abuse: Sen. Ted Cruz, R-Texas, recently told a joke that went “Here, we have Thanksgiving, we have Christmas, we have the 4th of July. Every year in Iran, they celebrate death to America day, which is the anniversary of Iran in the 1970s taking Americans hostage.”

If not exactly humor this Cruz statement certainly qualifies as hyperbole in the service of making a larger point. But PolitiFact ignored the larger point, i.e., it’s foolish to trust an enemy in negotiations, and instead concentrated on the holiday festivities.

According to Breitbart, “In order to come to the conclusion that Cruz’s morally clarifying piece of humor was a lie, PolitiFact scoured news archives and hassled no less than five “academic authorities” to see if there is an official “Death to America” holiday in Iran.” And in fact a search discovered, “that not a single use of humor by any Democrat has ever been fact-checked by PolitiFact, much less rated as “mostly false.”

So what PolitiFact chose to analyze and how they analyzed it shows obvious bias. The lesson from this for conservatives is during the 2016 presidential campaign it pays not to trust the MSM or the MSM’s pet fact checkers.

Breaking News at Newsmax.com http://www.newsmax.com/Reagan/PolitiFact-Fact-Checkers-Bias/2015/03/20/id/631565/#ixzz406RppkWB

Politi Fact gets all their facts from Left Wing Establishment Media who hate Trump.

They think the Establishment Media is not bias.

So what does that tell you about your “facts”.

We must not let this be about Cruz or Trump. We don’t have that luxury anymore. I say this as a Cruz supporter. We must focus, unite as a movement (conservatism) to STOP the SC nomination of Obama. It does’t matter who he nominates, whomever it is, we know already it will be someone unacceptable. No vetting required.

We must stop the infighting; we must focus now on calling our Senators, tearing up the phone lines and filling up inboxes. I realize they are on recess, but it must be done. They are only on recess for a week (next week). We must focus on the Senate, harassing them with as much fervor as we can muster, as much tenacity as we have expressed towards our “enemy” candidate (whomever that might be, be it Cruz or Trump). We must focus that energy on stopping Obama.

The death of Scalia is indeed a game changer. It’s time to unite now, even though the primaries aren’t over. It’s time to stop focusing on “our” candidate, and start focusing on stopping Obama’s wretched plan. We thought we could ignore him now, but Scalia’s death changes this. He still can do tremendous damage. He must be stopped. We can’t do it if we are too busy fighting for “our” candidate.

Obama is most likely going to nominate someone on Tuesday. We must be prepared to fight this on a united front. He will claim that he’s making a “recess appointment” so no Senate confirmation will be required. He will then try to bully the Senate into accepting this. We must not let this happen. We must focus on fighting HIM now, not each other.

The Left has shown they can unite when needed; it’s time we do the same!