02-28-2016, 12:51 AM
(02-28-2016, 12:40 AM)Nately120 Wrote: How many times has Trump declared bankruptcy? Trump is the face of the "too big to fail" privatization of profit and socialization of loss that put this country in the hole it is now. If Trump or his supporters knew anything about business or the economy they wouldn't have to spend so much time blaming entire races of people for this 'n' that. Donald Trump has failed. Multiple times. Just call it like it is.
To my knowledge, Trump has never filed personal bankruptcy. Companies go bankrupt and re-org all the time. Each new development he sets-up as a separate corporation, and this shields him personally as well as his overall company from failed projects. That's just how business is done in real estate, and the banks know this and adjust their loan terms accordingly.
I think his business has been in trouble once or twice when the economy or real estate market tanked and he was fairly levered, but you're buying into the bankruptcy meme because you don't understand it.
