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King of Debt...Donald Trump

Patrickt

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"Donald Trump, the presumptive Republican nominee for president and self-described “king of debt,” offered a glimpse into his deal-making playbook Wednesday morning as he defended himself from Hillary Clinton's attacks.

“I’m the king of debt. I’m great with debt. Nobody knows debt better than me,” Trump told Norah O’Donnell in an interview that aired on “CBS This Morning.” “I’ve made a fortune by using debt, and if things don’t work out I renegotiate the debt. I mean, that’s a smart thing, not a stupid thing.”
“How do you renegotiate the debt?” O’Donnell followed up.


“You go back and you say, hey guess what, the economy crashed,” Trump replied. “I’m going to give you back half.”
Trump: 'I'm the king of debt' - POLITICO

Isn't that wonderful. That's how a billionaire who is also an unabashed deadbeat operates. Donald owes a contractor $150,000 and he says, "I'll give you $75,000."

Now, who would accept that. Obviously, no one would if they had a choice.

"If you don't accept it will go to the court and you will definitely not get $150,000 because the project is grossly over-extended and you might get absolutely nothing." Now, faced with that choice, and realizing the project is, in fact, grossly over-extended, you cut your losses and take half.

Oh, over-extended means the project has run up debts through borrowing, selling junk bonds, hiring contractors, suppliers, and employees that cannot possibly be paid. There is simply no way possible the project can ever be expected to pay back what the King of Debt borrowed. And, keep in mind, the King of Debt describes himself as the smartest man in the room and someone who never apologizes.

That's why I call Donald Trump a deadbeat. He brags that he makes money by declaring bankruptcy and when asked about the people who lost over a billion dollars in his bankruptcies he said in the first Republican debate, "I made a lot of money in Atlantic City and I'm proud of that."

Donald Trump's caring for the working people, caring for Americans is exemplified by his willingness to take their money and then stiff them. Donald Trump is, in fact, a deadbeat.
 
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"Donald Trump, the presumptive Republican nominee for president and self-described “king of debt,” offered a glimpse into his deal-making playbook Wednesday morning as he defended himself from Hillary Clinton's attacks.

“I’m the king of debt. I’m great with debt. Nobody knows debt better than me,” Trump told Norah O’Donnell in an interview that aired on “CBS This Morning.” “I’ve made a fortune by using debt, and if things don’t work out I renegotiate the debt. I mean, that’s a smart thing, not a stupid thing.”
“How do you renegotiate the debt?” O’Donnell followed up.


“You go back and you say, hey guess what, the economy crashed,” Trump replied. “I’m going to give you back half.”
Trump: 'I'm the king of debt' - POLITICO

Isn't that wonderful. That's how a billionaire who is also an unabashed deadbeat operates. Donald owes a contractor $150,000 and he says, "I'll give you $75,000."

Now, who would accept that. Obviously, no one would if they had a choice.

"If you don't accept it will go to the court and you will definitely not get $150,000 because the project is grossly over-extended and you might get absolutely nothing." Now, faced with that choice, and realizing the project is, in fact, grossly over-extended, you cut your losses and take half.

Oh, over-extended means the project has run up debts through borrowing, selling junk bonds, hiring contractors, suppliers, and employees that cannot possibly be paid. There is simply no way possible the project can ever be expected to pay back what the King of Debt borrowed. And, keep in mind, the King of Debt describes himself as the smartest man in the room and someone who never apologizes.

That's why I call Donald Trump a deadbeat. He brags that he makes money by declaring bankruptcy and when asked about the people who lost over a billion dollars in his bankruptcies he said in the first Republican debate, "I made a lot of money in Atlantic City and I'm proud of that."

Donald Trump's caring for the working people, caring for Americans is exemplified by his willingness to take their money and then stiff them. Donald Trump is, in fact, a deadbeat.


If all of this garbage is true, if he cheats people regularly as the left would have us believe, please tell me why anyone would do business with him? The answer is, "They wouldn't."
 

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"Donald Trump, the presumptive Republican nominee for president and self-described “king of debt,” offered a glimpse into his deal-making playbook Wednesday morning as he defended himself from Hillary Clinton's attacks.

“I’m the king of debt. I’m great with debt. Nobody knows debt better than me,” Trump told Norah O’Donnell in an interview that aired on “CBS This Morning.” “I’ve made a fortune by using debt, and if things don’t work out I renegotiate the debt. I mean, that’s a smart thing, not a stupid thing.”
“How do you renegotiate the debt?” O’Donnell followed up.


“You go back and you say, hey guess what, the economy crashed,” Trump replied. “I’m going to give you back half.”
Trump: 'I'm the king of debt' - POLITICO

Isn't that wonderful. That's how a billionaire who is also an unabashed deadbeat operates. Donald owes a contractor $150,000 and he says, "I'll give you $75,000."

Now, who would accept that. Obviously, no one would if they had a choice.

"If you don't accept it will go to the court and you will definitely not get $150,000 because the project is grossly over-extended and you might get absolutely nothing." Now, faced with that choice, and realizing the project is, in fact, grossly over-extended, you cut your losses and take half.

Oh, over-extended means the project has run up debts through borrowing, selling junk bonds, hiring contractors, suppliers, and employees that cannot possibly be paid. There is simply no way possible the project can ever be expected to pay back what the King of Debt borrowed. And, keep in mind, the King of Debt describes himself as the smartest man in the room and someone who never apologizes.

That's why I call Donald Trump a deadbeat. He brags that he makes money by declaring bankruptcy and when asked about the people who lost over a billion dollars in his bankruptcies he said in the first Republican debate, "I made a lot of money in Atlantic City and I'm proud of that."

Donald Trump's caring for the working people, caring for Americans is exemplified by his willingness to take their money and then stiff them. Donald Trump is, in fact, a deadbeat.


Could you say, what is unethical with renegotiating in a situation of a general crash, when the sales price will no longer pay the costs? It becomes a zero sum game and unpleasant. Always.
 

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They still let you vote in US elections, Patrick?
 

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They still let you vote in US elections, Patrick?

Another one who hasn't read the Constitution. Of course. I'm a U.S. citizen, I did my time in the military, I pay my income tax every year, and I keep up with the news on the internet.
 

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Could you say, what is unethical with renegotiating in a situation of a general crash, when the sales price will no longer pay the costs? It becomes a zero sum game and unpleasant. Always.

Wow, four bankruptcies over a fifteen year period all due to a "general crash". And this is for an amazing businessman who doesn't make mistakes and is always the smartest man in the room. And, amazingly, three of the bankruptcies made him money and cost his creditors over a billion dollars.

But, I digress. You asked, what is unethical about a man worth billions stiffing his employees, contractors, suckers who bought junk bonds, and people who loaned him money when he clearly has the means to pay them? Well, if you really have to ask what's unethical about that then I suppose there is absolutely nothing I can say.

Please note, I didn't say what he'd done was illegal. It might be illegal is anyone looked at his pattern of bankruptcies and established an intent to defraud rather than a general incompetence.
 

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Another one who hasn't read the Constitution. Of course. I'm a U.S. citizen, I did my time in the military, I pay my income tax every year, and I keep up with the news on the internet.

Some people give up their citizenship when they move to another country. Do you pay taxes to Mexico?
 

ttwtt78640

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That situation, owing more than the assets securing a loan are worth, causes many secured loan defaults or renegotiations via bankruptcy. If you "bought" (took a mortgage against) a house (or business) for $400K that becomes worth $250K (or less) then bankruptcy is not a bad option.
 

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If all of this garbage is true, if he cheats people regularly as the left would have us believe, please tell me why anyone would do business with him? The answer is, "They wouldn't."

You tell me. His one talent is conning suckers. As a Trumpkin, tell me, how does he do it?
 

WCH

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Wow, four bankruptcies over a fifteen year period all due to a "general crash". And this is for an amazing businessman who doesn't make mistakes and is always the smartest man in the room. And, amazingly, three of the bankruptcies made him money and cost his creditors over a billion dollars.

But, I digress. You asked, what is unethical about a man worth billions stiffing his employees, contractors, suckers who bought junk bonds, and people who loaned him money when he clearly has the means to pay them? Well, if you really have to ask what's unethical about that then I suppose there is absolutely nothing I can say.

Please note, I didn't say what he'd done was illegal. It might be illegal is anyone looked at his pattern of bankruptcies and established an intent to defraud rather than a general incompetence.

Everyone uses the bankruptcy laws allowed in this country. Trump is no different.

I've had customers going bankrupt and not pay me thousands of dollars owed. It's part of business life.
 

Patrickt

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Some people give up their citizenship when they move to another country. Do you pay taxes to Mexico?

You didn't ask if I had given up my citizenship. You didn't ask if I'd taken out Mexican citizenship. Of course, since I live in Mexico I pay taxes in Mexico. I pay taxes in the U.S. because I earn money in the U.S. I care about America because it's where I was born and raised and where my children live.

I do care about America and it hurts me to see the two major parties running candidates who me well destroy America.
 

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Ah, a member of the pro-Hillary contingent.

Ah, a member of the Trumpkins. Nothing will ever get me to vote for another liberal. That means, I won't be voting for either Sen. Clinton or Mr. Trump.

You, clearly intend to vote for the lifelong liberal Democrat huckster, who supports gun control, taxpayers subsidies to Planned Parenthood, raising taxes, raising the federal minimum wage, nationalized healthcare, oh, and, like Barack Obama, plans on uniting the country.
 

WCH

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You didn't ask if I had given up my citizenship. You didn't ask if I'd taken out Mexican citizenship. Of course, since I live in Mexico I pay taxes in Mexico. I pay taxes in the U.S. because I earn money in the U.S. I care about America because it's where I was born and raised and where my children live.

I do care about America and it hurts me to see the two major parties running candidates who me well destroy America.

Apparently, as a US citizen, all your worldwide earnings are subject to US taxes. I didn't know that.

You anti-Trump people don't seem to realize that your rhetoric is only helping elect Hillary.
 

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Wow, four bankruptcies over a fifteen year period all due to a "general crash". And this is for an amazing businessman who doesn't make mistakes and is always the smartest man in the room. And, amazingly, three of the bankruptcies made him money and cost his creditors over a billion dollars.

But, I digress. You asked, what is unethical about a man worth billions stiffing his employees, contractors, suckers who bought junk bonds, and people who loaned him money when he clearly has the means to pay them? Well, if you really have to ask what's unethical about that then I suppose there is absolutely nothing I can say.

Please note, I didn't say what he'd done was illegal. It might be illegal is anyone looked at his pattern of bankruptcies and established an intent to defraud rather than a general incompetence.

The man stays wealthy because the corporation takes the loan not the man. My landlady incorporates her rental properties to prevent a lawsuit involving a rental unit from possibly affecting her own home, farm or other assets.
 

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Everyone uses the bankruptcy laws allowed in this country. Trump is no different.

I've had customers going bankrupt and not pay me thousands of dollars owed. It's part of business life.

Everyone? Have you? I haven't. My father never did. My uncles never did. And, how many people do it over and over and over again. I know organized crime does. Running bankruptcy scams is a big business with the Mob and it's closely connected with casinos. Amazing coincidence.

So, tell me, how many individuals that you do business with have stiffed you three times?
 

WCH

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Ah, a member of the Trumpkins. Nothing will ever get me to vote for another liberal. That means, I won't be voting for either Sen. Clinton or Mr. Trump.

You, clearly intend to vote for the lifelong liberal Democrat huckster, who supports gun control, taxpayers subsidies to Planned Parenthood, raising taxes, raising the federal minimum wage, nationalized healthcare, oh, and, like Barack Obama, plans on uniting the country.

Spare me the meme. I've heard it repeated all too many times.

Stop helping Hillary by keeping it to yourself.
 

WCH

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Everyone? Have you? I haven't. My father never did. My uncles never did. And, how many people do it over and over and over again. I know organized crime does. Running bankruptcy scams is a big business with the Mob and it's closely connected with casinos. Amazing coincidence.

So, tell me, how many individuals that you do business with have stiffed you three times?

It's US law. Don't like it, change it.
 

Patrickt

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It's US law. Don't like it, change it.

Ah, you've confused me with President Obama and Donald Trump. I don't think I can change laws. If you don't like my posts, though, you might consider not reading them.

And you didn't answer the question. How many people do you do business with who have declared Chapter 11 bankruptcy four times?
 

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Spare me the meme. I've heard it repeated all too many times.

Stop helping Hillary by keeping it to yourself.

Stop embarrassing yourself. I realize liberals don't want elections or a Constitution and hate free speech but for now you're stuck with them.
 

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The man stays wealthy because the corporation takes the loan not the man. My landlady incorporates her rental properties to prevent a lawsuit involving a rental unit from possibly affecting her own home, farm or other assets.

Close. He doesn't stay wealthy. He over-extends and makes money by declaring Chapter 11 bankruptcies. He's the King of Debt. He makes money on bankruptcies. Some people do it with personal bankruptcies. They borrow money or buy on credit, conceal the assets, and declare bankruptcy. It's nothing new and Mr. Trump is King.

And, his victims? The Trumpkins don't care.
 

WCH

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Ah, you've confused me with President Obama and Donald Trump. I don't think I can change laws. If you don't like my posts, though, you might consider not reading them.

And you didn't answer the question. How many people do you do business with who have declared Chapter 11 bankruptcy four times?

3 out of the 4 involved the struggling gaming industry. Nuff said.

Ask anyone in business whether it's better to declare bankruptcy or simply go out of business.

It was an intelligent business move on his part.

The US is nearly twenty trillion dollars in debt. We need to make some intelligent business decisions.
 

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Wow, four bankruptcies over a fifteen year period all due to a "general crash". And this is for an amazing businessman who doesn't make mistakes and is always the smartest man in the room. And, amazingly, three of the bankruptcies made him money and cost his creditors over a billion dollars.

But, I digress. You asked, what is unethical about a man worth billions stiffing his employees, contractors, suckers who bought junk bonds, and people who loaned him money when he clearly has the means to pay them? Well, if you really have to ask what's unethical about that then I suppose there is absolutely nothing I can say.

Please note, I didn't say what he'd done was illegal. It might be illegal is anyone looked at his pattern of bankruptcies and established an intent to defraud rather than a general incompetence.

I suspect from experience that to make that accusation, you would need more knowledge of the details.
 

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3 out of the 4 involved the struggling gaming industry. Nuff said.

Ask anyone in business whether it's better to declare bankruptcy or simply go out of business.

It was an intelligent business move on his part.

The US is nearly twenty trillion dollars in debt. We need to make some intelligent business decisions.

And a man who had declared bankruptcy four times is your choice for intelligent business decisions? And a man who is responsible for numerous failed businesses is your choice for intelligent business decisions? A man responsiible for Trump University is your choice for intelligent business decisions? Have you considered that Bernie Madoff might be out on parole soon? He might be an alternative for you.

I don't question Donald Trump's skill as a liar and a huckster. He's done well for someone who started out a millionaire and had to struggle his way up. And, WCH, for only $35,000 you, too, can learn to be an intelligent businessman with Trump University is you have absolutely no ethics, no sense of responsibility, no honor, and no shame.
 
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