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This is a HUGE distinction that gets glossed over because it's hard to see the implication from a headline. A lot of his critics pointing to his "bankruptcies"
by jkoudys 6y ago
This is a HUGE distinction that gets glossed over because it's hard to see the implication from a headline. A lot of his critics pointing to his "bankruptcies" had focused on businesses going bust. So, fair enough, his casinos sucked, but knowing when to declare a business insolvent is a legitimate skill and not necessarily a sign of someone who is overall bad with money.
Taking on $300M against your own name is madness. What scares me the most is we needed personal returns just to figure that out. There's no way you can go into that much debt without significant foreign or less-legitimate lenders in the mix. The man's also in his mid-70s, so everyone must expect that if he dies next week, there's something they'll be able to collect from the estate. Combine that with how closely he's kept all his kids involved in his businesses and you have a man with everything to lose.
- votepaunchy 6y ago> There's no way you can go into that much debt without significant foreign or less-legitimate lenders in the mix. We’ve known about Deutsche Bank for quite a while now. https://www.nytimes.com/2019/03/18/business/trump-deutsche-bank.html https://www.nytimes.com/2019/03/18/business/trump-deutsche-b...