**************
You need to inform Ted of that but in the meantime Ted did file with Canada
and renounce his Canadain citizenship. This is a copy of what he received on
5-14-2014 from the Canadain Gov't accepting his renoucement.
Posted on 02/19/2016 9:18:46 PM PST by TBP
Donald Trump is a habitual liar, and the thing about habitual liars is that they lie habitually.
In a testy exchange with former Florida governor Jeb Bush, Trump insisted that he’d never gone bankrupt, and that claims to the contrary are a lie. That’s the Trump magic right there: Lying about your business history is one thing, lying that your critics are lying about it is another.
Trump has a peculiar way of speaking about bankruptcy: He has a deep aversion to the word itself. He speaks of “putting a company into a chapter†without ever answering the implicit question: “Chapter of what? Moby-Dick?†The answer, of course, is the U.S. Bankruptcy Code, to which Trump has taken recourse at least four times over the course of his business career. The chapter in question is the famous Chapter 11, which applies to business bankruptcies. Trump proudly insists that he never has had recourse to Chapter 13, the personal bankruptcy code. This is his apparent justification for saying that he’s never been bankrupt. But of course one of the purposes of Chapter 11 bankruptcy is to keep men such as Donald Trump out of Chapter 13 bankruptcy.
Trump’s first bankruptcy was in 1991 after he borrowed a stupidly irresponsible amount of money to finance that monument to excruciatingly bad taste known as the Trump Taj Mahal in Atlantic City. Trump is such a good manager that the casino’s slot machines began failing during its first week of business. Never one to let reality stand in the way of his confidence, Trump had financed the $1 billion project largely with junk bonds, which meant very high interest payments. Trump did not make enough money to meet his interest payment and so was forced into bankruptcy. His ownership of the casino was diluted, and he ended up having to give back 500 slot machines to the company that had provided them.
Trump himself was on the hook for nearly $1 billion in the deal, according to the New York Times, a sum that exceeded his net worth. He was forced to sell a fair amount of his personal property, including a yacht, as well as the failing air-shuttle service he’d been attempting to launch for some time. As Boston bankruptcy attorney Ted Connolly put it, Trump used the bankruptcy proceedings to negotiate away his personal liabilities while leaving the business saddled with debt. Unsurprisingly, the casino endured further financial problems, including bankruptcy. Trump’s ownership stake was diluted steadily, and he eventually was removed from the board. By the time of the casino’s most recent bankruptcy — which is to say, the bankruptcy it currently operates in — Trump could plausibly say that it wasn’t really his business any more, in spite of the fact that his name and face are all over it.
Trump’s second bankruptcy came with his acquisition of New York City’s Plaza Hotel. The great dealmaker did essentially the same thing with the Plaza that he had done with the Taj Mahal: He borrowed too much money, at rates he could not afford. And in much the same way that he has contemplated putting his abortion-loving sister on the Supreme Court, he made his then-wife, Ivana, president of the Plaza. Once again, Trump was unable to make his debt-service payments. Once again, he lost much of his ownership stake — 49 percent went to Citibank — and, once again, he found himself having to run for the doors as parties with deeper pockets and more managerial acumen took over to clean up his mess. In the case of the Plaza, that was CDL Hotels International, of Singapore, and Prince Walid bin Talal, of Saudi Arabia. The Saudi prince laments that he was twice forced to “bail out†Donald Trump, whom he describes as a “disgrace to the United States.â€
The Saudi prince laments that he was twice forced to ‘bail out’ Donald Trump, whom he describes as a ‘disgrace to the United States.’
In 2004, Trump Hotels and Casino Resorts, a holding company for various Trump properties including the Taj Mahal and a riverboat-gambling company in Gary, Ind., went into bankruptcy, having acquired $1.8 billion in debt while raising only $130 million through an initial public stock offering. Same story: Trump had borrowed too much money, at a rate he could not afford (15 percent, in fact, which lets you know how credit-worthy the market deems Trump to be), and once again he was obliged to give up most of his ownership stake.
Trump Hotels and Casino Resorts was reorganized as Trump Entertainment Resorts . . . which promptly went bankrupt, filing for Chapter 11 protection in 2009. (That’s right: Trump, who wants to be president of these United States, was in bankruptcy that recently.) Too much debt at an interest rate that he couldn’t afford to pay? Check. Loss of ownership? Check. Trump and his daughter, Ivanka, both resigned from the board just before the bankruptcy filing, inviting unkind rodential-nautical metaphors.
It is no wonder that he’s had his greatest success renting his name to Macy’s and pretending to run a business on television rather than actually running a business.
So, those are the bankruptcies about which Donald Trump is lying. Trump also is lying about self-funding his campaign: Like any other politician, most of his money comes from donors. That famous fund-raising for veterans? The money is going into Trump’s personal foundation.
Trump has repeatedly failed his business partners and lied about it. He has lied about self-funding his campaign. He has lied to his wives and his family. Given that he received a low-risk draft status because of a health condition that he does not have, he almost certainly lied to the military he seeks to command.
The thing about habitual liars is, they lie habitually.
If you’re voting for Trump because you think he’s a straight shooter, you’re a bigger sucker than those chumps losing money on both sides of the table in Atlantic City.
I'm a Cruzer but Donald Trump has never been bankrupt. He has taken 4 of his corporations into Chapter 11 but Trump himself has never declared bankruptcy.
If you don't know the difference, and you are a Trump hater, you won't care about the difference.
If I could select a President, it would be Ted Cruz, but since I can't, I'm OK with either Cruz or Trump.
The FRenzied Cruzers/Trumpsters that hate the other guy, baffle me.
Unlike klintooooon, I believe that both Cruz and Trump love America and will try to do what they believe to be the right thing to make America better.
They have different approaches, one is a lawyer the other a business man, so you would expect their approach to solve problems would be different.
I just can't understand the very visible hate.
I’ll believe all of this if you’ll believe all of what a site totally devoted to Trump, says.....
http://dan.hersam.com/tools/smart-quotes.html
The above will clean up the ‘ and “ problems and make the post more readable.
***********
Four chapter 11 bankruptcies not chapter 7 bankrupties. Difference in that the chapter 11 is a
reorganiztion and the business continues to operate. Whereas chapter 7 provides for selling the
assests and paying the creditors with the proceeds.
**************
You need to inform Ted of that but in the meantime Ted did file with Canada
and renounce his Canadain citizenship. This is a copy of what he received on
5-14-2014 from the Canadain Gov't accepting his renoucement.
Never been a Canadian citizen? Hmmm, then why did he file papers to give up his Canadian citizenship a few months ago?
That's certainly true. In a personal bankruptcy you stiff the creditors, and give up all your personal net worth. In a business bankruptcy, you stiff the creditors, and keep all your personal net worth.
“Trump has never filed personal bankruptcy. There is a difference between personal bankruptcy and corporate bankruptcy. But I guess you don’t care”
“Trump has a peculiar way of speaking about bankruptcy: He has a deep aversion to the word itself. He speaks of “putting a company into a chapter†without ever answering the implicit question: “Chapter of what? Moby-Dick?†The answer, of course, is the U.S. Bankruptcy Code, to which Trump has taken recourse at least four times over the course of his business career. The chapter in question is the famous Chapter 11, which applies to business bankruptcies. Trump proudly insists that he never has had recourse to Chapter 13, the personal bankruptcy code. This is his apparent justification for saying that he’s never been bankrupt. But of course one of the purposes of Chapter 11 bankruptcy is to keep men such as Donald Trump out of Chapter 13 bankruptcy.”
Trump lies.
Asking Cruz supporters not to be smarmy is asking the impossible. The guy they support defines smarmy.
And while I’m at it the label “conservative” is starting to bother me because it’s something that was worn as a badge of honor to get elected and then betrayed when the office holders got to DC. Anyone can run around saying “I’m CONSERVATIVE”. But if you’re conservative do you vote for TPP, the Corker bill that turned the constitution upside down (how can Levin support Cruz?) and increasing immigration to take jobs in our country with 90 some million unemployed? Is that what Cruz and his supporters call conservative? It takes more than waving the Bible around and emoting about the “Body of Christ”.
I don’t care what label anyone uses ...I want the borders closed or we won’t have a country anymore. I want the goverment to use it’s power to make us to be safe from invaders in our country. I want the government to quit allowing policies that destroy American jobs for Americans.
I want the taxpayers money spent carefully and not thrown all over the world to anyone who isn’t an American.
For me it takes more than labeling yourself.
Nope. I am being realistic. You wait for it. You think Trump is gonna have an easy ride? With a media that is totally devoted to Hillary no matter what?
They are going to work to trump Trump.
They are biding their time and then they will unleash their assault so hard and fast that they will make Hillary look like a choir girl by comparison.
If Trump is the chosen candidate, they will have from June to November to destroy him.
And it will not be pretty.
Since The Rump has said, “She would make a terrific Supreme Court Justice,” yes, indeed it does matter.
And if you thought, with that quip, he was saying he would put her up for nomination if he is elected President, you must’ve confused lead paint chips for potato chips.
Well, let us disabuse you.
Cruz has always been a conservative.
Trump has never been one. He is not even one now.
To support the claim that Trump has had a "conversion" they've told all manner of lies.
First, claiming he has not actually said the things that he's said. Yes he has.
Second, by claiming that his contributions to Democrats is simply part of the "cost of doing businesses" and means nothing. No, it isn't. There are dozens of Republican businessmen with billions or hundreds of millions of dollars who have never done any such thing. They've still been successful in business. [And, BTW, most of them have not bankrupted the companies they've run.]
Third, by telling lies about other Republicans or historical figures, so his own politically bad choices seem less serious. These smears of other Republicans are more unforgivable than his lies about his own history. Bush did not lie about WMD's in Iraq. And despite what the Trumpbots have said, Ronald Reagan was NEVER a "very liberal Democrat."
Reagan was the go-to source of information for actors, directors, and writers when the Hollywood Ten and other communist infiltrators and fellow travelers were desperately trying to take over the writers' guilds and actors' unions. Reagan was mocked mercilessly by the Dalton Trumbos and Humphrey Bogarts of Hollywood, and paid a career and personal price for doing that; yet now we have to hear from these revisionists that Reagan was just like Trump.
No. He wasn't. Reagan stood by Barry Goldwater 17 years before he made his own Presidential run. Reagan describes his own "conversion" thus: "I didn't leave the Democrat Party, the Democrat Party left me."
Does that sound like the "conversion" of a "very liberal" Democrat? Now go back and look at what Trump believed as recently as a few yeas ago. The objection to Trump isn't personal. It's political. He's a liar, an opportunist, and a fraud and if he's elected President of the United States he will no more "build a wall" than he will build a successful casino business in Atlantic City.
Even if he opts not to put his liberal, pro-abort sister on the Supreme Court, that he thinks she’d be a great justice indicates that he would look for someone like her — and that’s exactly what we don’t need. We need a justice as much like Scalia as possible.
Ted Cruz is committed to putting originalists on the Court. I don’t know that Trump would.
The bankrupticies were all business related. Nothing about politics here.
And if you think that a man who describes a far left 100% NARAL compliant judge as someone who'd "make a terrific Supreme Court Justice," you've confused a liar, a fraud, and an opportunist with a conservative.
No conservative would characterize Trump's sister as anything other than what she is: a disaster who would be a terrible SCOTUS Justice, who should never have been appointed to the Federal bench in the first place.
The typical Trump response: "My Messiah has never said the things he's said. Or if he said them, he didn't really mean them."
Is there literally nothing you won't excuse from this disgusting liar?
It’s not all that different. He is his businesses, after all. It’s not as if they’re owned by a big corporation in which you and I could buy stock.
In any event, FOUR bankruptcies, whether personal or business, indicates he’s a bad handler of money and has erratic judgment. That concerns me in a potential president.
And I’m from New York and I always liked Trump. But there are a lot of people I like whom I wouldn’t want to be president. Frankly, we have better choices available.
The fact that they weren't personal bankruptcies is completely irrelevant.
I am NOT "presuming" nor assuming anything; but rather, going by what I see constantly posted by other posters. Would you care to explain that?
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.