Trump is the only author I know who’s book begins with Chapter 11…
… thank-you I’ll be here all week.
But seriously, have you seen Trump twist himself into pretzels talking about bankruptcy and answering charges, reacting to questions about the fact that many, many of projects with his name on it have gone belly up? He never uses the word “bankrupt”…
Check it out: KEVIN D. WILLIAMSON has a great article on “Trump, Lies, and Bankruptcy” at National Review:
In a testy exchange with former Florida governor Jeb Bush, Trump insisted that he’d never gone bankrupt, and that claims to the contrary are a lie. That’s the Trump magic right there: Lying about your business history is one thing, lying that your critics are lying about it is another.
Trump has a peculiar way of speaking about bankruptcy: He has a deep aversion to the word itself. He speaks of “putting a company into a chapter” without ever answering the implicit question: “Chapter of what? Moby-Dick?”
The truth is Trump HAS taken this type of action four times in his career. The purpose, Donald, as you know is to go into Chapter 11 bankruptcy is to keep people like Trump out of Chapter 13.
And the sheer number of failures in his name are a long, long, rap sheet: Here’s more.
Trump’s first bankruptcy was in 1991 after he borrowed a stupidly irresponsible amount of money to finance that monument to excruciatingly bad taste known as the Trump Taj Mahal in Atlantic City. Trump is such a good manager that the casino’s slot machines began failing during its first week of business.
Never one to let reality stand in the way of his confidence, Trump had financed the $1 billion project largely with junk bonds, which meant very high interest payments. Trump did not make enough money to meet his interest payment and so was forced into bankruptcy. His ownership of the casino was diluted, and he ended up having to give back 500 slot machines to the company that had provided them.
Donald Trump. FAIL.
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