Posted on 02/12/2016 9:07:05 AM PST by AndyJackson
I own a small business. I know the game.
After the order comes down from the court granting chapter 11, the business no longer has control and the creditors hold the keys...basically.
Trump was personally responsible for the four bankruptcies since they were his deals. While he was responsible, he was not liable for all the losses.
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.
“Trump thought TARP was great. Not a conservative position if you ask me.”
That depends entirely on how close the country was to the falling off a cliff.
Details which have never been fully released.
More worrisome is that I don’t see evidence that structural changes were made also.
I tend to agree. How easy will it be for him to make poor investments when he is doing it with tax payer money.
Gambling is an addiction that many people struggle with. Making millions of dollars off of people this way raises ethical concerns for me.
Babe Ruth is an icon even though he had more Ks than HRs.
Give Donald his due. The new 5 Star hotel in DC being the latest example of his abilities.
So Bankruptcy is a sign of a business man with good business judgement?
wow the spin is getting better and better
...........................................................
Grow Up! Nothing in life is guaranteed, except DEATH and TAXES.
Experience is the best teacher!
GO TRUMP 2016
Yes, and experience tells me not to trust someone who has declared bankruptcy four times.
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.
You said it well, gambling.
Many business people can see market shifts and account for them in their plan.
Donald appears to gamble on the shifts and declares bankruptcy if the doesn’t win.
No he's not. MNJohnie has been a Trump supporter here.
He has an unusually large number of business failures.
You understand nothing about it, clearly. Filing for Chapter 11 in bankruptcy court is how you do all of this.
My apologies then to MNJohnnie. Things are getting so crazy around here it’s hard to keep things straight.
Re: “In other words, no one was stiffed out of money. Everyone was paid. Trump paid.”
Really?
Trump’s creditors were paid in full?
So, why did Trump and his creditors spend millions of dollars to go to court?
Why didn’t they all sit down in Trump’s office and settle the problem in a couple hours - and for free?
Because chapter 11 goes to court.
Chapter 11 is NOT chapter 7. Look it up.
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