We keep hearing slams against Trump for stiffing his bankers. Here are the details.
Having worked in real estate before, during and after the crash, I have very little sympathy for the banks.
On several occasions, rather than act on the short sale of a property, they actively pushed the homeowner into bankruptcy.
In once instance, I had $150,000 in cash sitting at a title company to purchase the home but Chase & Wells Fargo decided to allow the home to go to auction instead because the price point of the home wasn't worth their time.
The house sold at auction for something like $80,000.
In another case, USAA would not work with the home owner to let him out of the mortgage and said they would simply add any deficiency from the mortgage to his credit cards.
At the time, USAA stood to lose a few thousand dollars at the most. Instead, the homeowner filed bankruptcy causing USAA to lose much more.
IMO, some of the banks should have been allowed to fail.
The question in my mind is how did Trump’s experience during that period of time and in that industry compare with others.
Pretty soon they'll be blaming him for the sinking of the Titanic.