King of Debt...Donald Trump

[Patrickt]

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

Really? You've experienced a string of bankruptcies that showed a profit for you while stiffing your creditors?

 

[joG]

Really? You've experienced a string of bankruptcies that showed a profit for you while stiffing your creditors?

I have followed a number of bankruptcies and bankrupts, yes. And yes, I have seen many different outcomes, depending on the structure of the deals.

 

[blaxshep]

Obama is the true King of debt, he has added $10T to the national debt, more than all the presidents since 1776 combined. More debt than any man has ever added in the history of all human existence.

 

[mike2810]

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.

Are you against anyone claiming bankruptcy or renegotiating their debt?

 

[DamnYankee]

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."

True, they wouldn't. That's why the left relies on lies, deceit, and corruption. Their whole party is built on corruption Tammany Hall style. I have a personal rule. If a leftists tells you something, look into it. It will probably turn out false. And, everything they accuse you of, they are the ones who are guilty. Ever notice that? You have the leftist elites making all these false accusations, and when you give it time, you will find they are the ones who are guilty. It's unbelievable. And the rank and file follow along behind their elitists eating the crap up. LOL

 

[Patrickt]

I have followed a number of bankruptcies and bankrupts, yes. And yes, I have seen many different outcomes, depending on the structure of the deals.

Your answer was a non sequitur. Are you an intelligent businessman who has had a string, not just one or two or three, bankruptcies that made you a lot of money while stiffing your creditors? I doubt it. Not many have. Just Donald and a few others.

I know people who have had to declare bankruptcy. It was always for one of two reasons: borrowed more than they could pay back or had an emergency. A number I knew in the first category were frauds and should have gone to jail. Some bought gold coins or gems and hid them. One bought a sailboat and hid that. And the ones who were frauds were often looking forward eagerly to their next bankruptcy, like Donald. The ones who had emergencies, didn't commit fraud and I never knew anyone in that category who had a second or third or fourth bankruptcy.

Sorry, but Donald Trump is a liar, a huckster, a deadbeat, and a liberal.

 

[Patrickt]

Are you against anyone claiming bankruptcy or renegotiating their debt?

That depends. I've had friends who had terrible emergencies who had to declare bankruptcy. None did it two or three or four or more times. I do not think anyone should be allowed to profit from a bankruptcy while stiffing creditors. I knew people who did that, thought they should have gone to jail, had no respect for them, and wouldn't have voted for them to be dog catcher.

Do you think bankruptcy is a good business model to make a lot of money? If you do, it's easy. Max out your credit cards, buy gold and gems, bury them, claim they were stolen, declare bankruptcy, and you're rich and your creditors paid your way.

 

[joG]

Your answer was a non sequitur. Are you an intelligent businessman who has had a string, not just one or two or three, bankruptcies that made you a lot of money while stiffing your creditors? I doubt it. Not many have. Just Donald and a few others.

I know people who have had to declare bankruptcy. It was always for one of two reasons: borrowed more than they could pay back or had an emergency. A number I knew in the first category were frauds and should have gone to jail. Some bought gold coins or gems and hid them. One bought a sailboat and hid that. And the ones who were frauds were often looking forward eagerly to their next bankruptcy, like Donald. The ones who had emergencies, didn't commit fraud and I never knew anyone in that category who had a second or third or fourth bankruptcy.

Sorry, but Donald Trump is a liar, a huckster, a deadbeat, and a liberal.

Don't get me wrong. I don't think much of Trum for President. But I do think that it makes more sense to criticize his many real and provable faults than speculate on the ones less transparent.

 

[Patrickt]

Don't get me wrong. I don't think much of Trum for President. But I do think that it makes more sense to criticize his many real and provable faults than speculate on the ones less transparent.

Ah, but for the faithful any criticism brings a firestorm of response. Donald Trump is a liar, a huckster, a deadbeat, and a liberal. I don't think his claiming to be King of Debt and being proud of stiffing creditors and making money doing it opaque. Since he not only admits it but is proud of it then it's not a matter of it needing to be provable. He's proud of it.

Now if I were talking about him being as much of a narcissist as President Obama, that's not really provable although it might be obvious. If I were to claim his view of women and sex had never progressed from adolescence, that, too, might be obvious but debatable. It could simply be that he's an ass.

 

[mike2810]

That depends. I've had friends who had terrible emergencies who had to declare bankruptcy. None did it two or three or four or more times. I do not think anyone should be allowed to profit from a bankruptcy while stiffing creditors. I knew people who did that, thought they should have gone to jail, had no respect for them, and wouldn't have voted for them to be dog catcher.

Do you think bankruptcy is a good business model to make a lot of money? If you do, it's easy. Max out your credit cards, buy gold and gems, bury them, claim they were stolen, declare bankruptcy, and you're rich and your creditors paid your way.

I am not a big fan of bankruptcy where a company or a person walks away from a debt owed. That is not what seems to be the case for Trump.

"People might ask "How is Donald Trump able to file for bankruptcy so many times?" The answer is "He didn't." Trump himself has never filed for bankruptcy. His corporations have filed for Chapter 11 bankruptcy four times. By filing for Chapter 11 bankruptcy, the corporation is allowed to continue running while restructuring and reducing its debt. By allowing the business to continue, employees still have their jobs and the business is still making money. Corporate debts still need to be repaid but they may be reduced. The corporation must develop a repayment plan and corporate budget. Both must be approved by the creditors and by the bankruptcy court.

If what I provided is true. Then it is not as bad as some have stated.



How is Donald Trump Able to File for Bankruptcy So Many Times?

 

[clownboy]

I am not a big fan of bankruptcy where a company or a person walks away from a debt owed. That is not what seems to be the case for Trump.

"People might ask "How is Donald Trump able to file for bankruptcy so many times?" The answer is "He didn't." Trump himself has never filed for bankruptcy. His corporations have filed for Chapter 11 bankruptcy four times. By filing for Chapter 11 bankruptcy, the corporation is allowed to continue running while restructuring and reducing its debt. By allowing the business to continue, employees still have their jobs and the business is still making money. Corporate debts still need to be repaid but they may be reduced. The corporation must develop a repayment plan and corporate budget. Both must be approved by the creditors and by the bankruptcy court.

If what I provided is true. Then it is not as bad as some have stated.



How is Donald Trump Able to File for Bankruptcy So Many Times?

Precisely. This is not debt forgiveness, but restricting of the debt and a longer repayment plan. The debts do get paid and the company continues on employing people.