Is Hillary Getting Desperate?

[*Nately120*]

(02-28-2016, 02:56 AM)JustWinBaby Wrote: No, not really.  3 of the 4 bankruptcies were in the Casino industry, and you might want to read up a little on that - giants were in trouble after the financial crisis so it happens in that industry.  And all 3 may have been in Atlantic City, which has been dying for years.

There's plenty to criticize Trump for, but the bankruptcy thing is a non-starter.  It's just a personal attack meant to inflame people who don't understand how it really works.  I just found it comical that you criticized his followers for not understanding business when you yourself actually don't seem to understand it all.

Trump as the embodiement of "too big to fail" and "socialization of loss" just wreaks of someone who doesn't know what they are talking about.  He was never "bailed out" nor were his losses somehow socialized.

So Trump's chapter 11 filings didn't cost taxpayers? I get it, he loses money, his creditors lose money, he should (in theory) lose standing in the business world but when Trump tells Atlantic City to just deal with an empty casino no one bats an eye? Call me skeptical, but if someone like Trump isn't using his wealth to every advantage he can, I'd be amazed.

Welp, maybe I just want to hate the guy. Wait, in 1990 he signed a bailout pact with "Banks that lent Trump $1.9 billion are poised to forgive hundreds of millions of dollars Trump owes them in exchange for prime New York real estate and other holdings, according to information gleaned from two dozen interviews over the last 12 days."

So the bank bought his debt and then he paid it back? You got me, I'm confused.

"Trump eventually found himself in serious financial trouble. In 1990, due to excessive leveraging, The Trump Organization revealed that it was $5 billion in debt ($8.8 billion by some estimates), with $1 billion personally guaranteed by Trump himself. The survival of the company was made possible only by a bailout pact agreed upon in August of that same year by some 70 banks, allowing Trump to defer on nearly $1 billion in debt, as well as to take out second and third mortgages on almost all of his properties."

Again, so this was a private bailout of the nature of the banks buying his debt? And if he asked "for the banks to forgive debts of hundreds of millions of dollars owed by Trump and to release the last $20 million from the $65 million credit line created under the bailout deal" does that mean he passed the buck along to anyone but his creditors?

You're right...I don't have an easy answer for this. I will say it looks like Trump is a beneficiary of some favorable treatment not everyone in this country can get, however.