J. Christian Adams has documented, Atlantic City isn’t Trump’s only failed enterprise, nor is it the only example of how Donald Trump has made money by duping Donald Trumpand bullying the little guys he now claims to speak for. Posted on 02/18/2016 9:21:21 AM PST by Stepan12
A lot has been written about how Donald Trump’s asset churning and bombastic attacks on partners and takeover targets in Atlantic City may have profited him personally, but ultimately led to the demise of his Atlantic City casino empire, costing small investors, contractors and suppliers millions of dollars and throwing thousands of employees out of work.
But as our friend, and former Justice Department lawyer J. Christian Adams has documented, Atlantic City isn’t Trump’s only failed enterprise, nor is it the only example of how Donald Trump has made money by duping Donald Trumpand bullying the little guys he now claims to speak for.
As Adams documented in the must-read article for PJ Media “Donald Trump's Record of Business Failures and Bluster,†Trump’s “legacy of business failures goes beyond the four bankruptcies of his Atlantic City casinos. It includes outsourcing jobs to China, ripping off students seeking an education, and leaving a path of devastated Americans in his wake.â€
Far from being an adept job creator, Trump's business history reveals someone skilled at making money at the expense of other Americans while his businesses fail – and a man who will say almost anything about these failures.
As evidence Adams first cites the example of Louis Piatt and Trump University.
Trump University was an unaccredited program that was supposed to teach ordinary Americans how to hit the big time in real estate. Mr. Piatt put his faith in Donald Trump before he concluded as Christian Adams put it, “Trump University was a worthless scam.â€
Professor Donald supposedly would offer personal lessons on how to make money. And says Adams, in a perverse way, Trump did.
Trump University made money by fleecing regular Americans who saved and paid tens of thousands of dollars in tuition before it vanished. Trump University taught a harsh lesson in grifting concluded Adams.
Trump University isn’t ancient history. The scam collapsed in a blizzard of lawsuits in 2010, and in 2013 (about the same time the Trump’s Atlantic City Taj Mahal was opening its strip club with lap dancing) the New York attorney general sued Trump University for $40 million for allegedly defrauding students.
Christian Adams goes on to cite a legacy of failures in Trump Vodka, Trump Airlines, and memorably Trump Steaks about which one reviewer might have been channeling a warning to voters in 2016 when he said:
"These burgers were tasteless loaded with fat and very messy to clean up after. Trump stated on the air that they were low in fat and would be helpful to anyone who is trying to watch their weight. This just is not the case they are so full of fat that the color of these burgers are white with a little pink. I am no stranger to Angus beef and high quality lean cuts of meat -- having a butcher in the family. I believe his burgers are not what they say they are."
But the scams didn’t end with Trump University – they are still being perpetrated through Trump’s vulgar (and unconstitutional) bluster about forcing CEOs who manufacture their goods in China to bring those jobs home.
You see, while Trump would like to bamboozle you into believing he’s strictly a “made in the USA†kind of guy, Adams points out Donald Trump’s eponymous neckties are not made in the USA – you guessed it – they’re made in China.
Trump built the scam by profanely threatening that if he is elected he would not only stop outsourcing jobs to China, but he would tell those CEOs who do so that they can go “f--- themselves.†Trump’s vulgar threat probably wasn’t self-directed, but, as Adams observed, it is part of his “say anything†approach to the presidential race.
Likewise, Trump’s bluster and threats of lawsuits are part of his tough guy image. But the reality is that when matched against the big boys in a court of law where facts and reality matter Donald Trump hasn’t been a winner, but a major league loser.
And in one of his most notable losses the leagues were the United States Football League and the National Football League.
You may recall that the USFL played in the spring and did well in the first few seasons because it did not have to compete with the NFL.
Enter Donald Trump to foul it up.
As Christian Adams documented in his report for PJ Media, in the league’s second year Trump bought the New Jersey Generals. Trump browbeat the other owners into moving the USFL schedule from the spring to the fall, thereby taking on the National Football League.
That started the fast decline of the USFL, and to make matters worse, Trump threatened a lawsuit against the NFL, eventually instigating an antitrust suit against big league football.
The outcome of the lawsuit was a joke, laughed at in law school classrooms to this day: Trump’s USFL lawsuit resulted in a mere $1 in damages (increased to $3 under federal antitrust law). Think about that next time you hear Trump threaten to sue someone, or talk about his record in the courtroom.
Adams points out that Trump uses the same bluster on the campaign trail, threatening to sue Ted Cruz or others who exercise their first amendment right to speak ill of him, but Cruz has now called his bluff.
We are looking forward to finding out if Trump will actually face off against Cruz in a forum where bluster and threats are meaningless.
Throughout all of Trump’s bankruptcies, business scams, and failed gambles, says J. Christian Adams, there has only been one constant -- Donald Trump’s ability to come out on top.
When he outsources jobs to China or rips off those who attended Trump University, it is the little guys, American workers who put their faith in Donald Trump, who bear the cost of his dealings, not Donald Trump.
Rotflmaopimp
These are like Mad Magazine Headlines
He is apparently sleazy and seems to use insider information or slams things already selling that company's stock short.
I believe his manipulation of currency was so flagrant that the USA and other countries now have recent laws requiring the income made on trading currency to be directly taxed as income over $2000 a year or so.
IMO he would probably folks Donald as the President after.Not sure what this means.
And we are in agreement with all you stated here!!
Take care
My mistake is not wearing readers with contacts in.
I am also using a droid tablet and it tends to like phones auto-correct what I am typing and if I don't watch out the results are nothing like what I was typing.
I guess I find it too easy to sit on a couch and finger out a post rather than sit at the table on my computer and type it out at 100 words a minute.
My bad!
Great example where technology isn't quite there yet.
If all of you trumpen conservatives want to give the finger to the Republican establishment, then go to Reince Preibus and flip him the bird. It is not illegal and will do less damage to our former republic than your support of the blowhard Trump. I want results and restoring the Republic not incoherent emotional satisfaction that would still bring horrid results!
Thanks for that!!!
Do not like using cellphone, pads or tabs to type on. I am bad enough with a keypad, but when ‘THEY’ start correcting typed words into something else..........grrrrrrrrr!!! (cfe)
Happens to me with almost every post. I have to be very aware.
Nice note. Sounds like you got your stuff together. Not slamming Trump as the worst in the VC world. Believe me, some are more dirty and ruthless. It’s just that i understand enough about the business world that when people brag that they are always big winners in negotiations, that more often than not that there is a “big” loser. too. Not flinging the moral and ethical card here, but just sayin’
That was your question, in response to Trump being a Flim Flam man...with a hugh payroll....
SOROS is my answer........, what do you mean WHERE? duh.
From the standpoint of things out of his control like zoning, permits, local politics, unions and the mob, he had to lose some.
But he shows he knows when he has the hand to play
Remember, he took his ability, his education and a one million dollar loan from dad and turned into a bunch of billions of which ten or so he got to keep AFTER taxes.
Think of how many billions in salaries and benefits he’s paid in his lifetime?
I only wish he also had Cruz’s understanding of the Constitution as well, but he wasn’t trained to be Cruz.
With all candidates you win some and lose some.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.