Making a bank eat your loan is called deadbeat.
Making a bank eat your loan is called deadbeat.
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WOW! Such conservative principles! What did you say when George W. Bush and Barack Obama made the GM Bond Holders eat their preferred debt? Should there be bankruptcy laws at all?
No banks ate any loan
They either restructured the debt - which Trump then repaid at lower interest over longer terms - - or they got control of the business to,operate as they saw fit
Remember that the banks were partners with trump,and shared the risk that the business would fail - as trump said these were big boys not small debt holders
The fact that this business bankruptcy was triggered only 4 times in a $ 10 billon dollar 40 year business career is pretty remarkable success record
In fact his biggest creditor in one of the bankruptcies was Carl Icahn who is a friend and associate to this day