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Trump's bankruptcies whittle away at his reputation as a great businessman

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no_hypocrisy Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-24-11 07:54 AM
Original message
Trump's bankruptcies whittle away at his reputation as a great businessman
TV star and developer Donald Trump tells his Tea Party followers the nation needs a President who is a "winner, not a loser" - and he's just the guy for the job.

What he doesn't talk about is a recurring pattern of Trump companies filing for bankruptcy to dodge creditors and distance him from business failure.

-snip-

In the last 20 years, Trump's companies have sought protection from creditors to avoid financial collapse at least three times.

-more-



http://www.nydailynews.com/news/politics/2011/04/24/201...
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sendero Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-24-11 08:00 AM
Response to Original message
1. I wondered..
.. when someone was going to bring this up. I've heard some try to excuse it as some sort of strategic move, but the fact is when you declare bankruptcy someone eats your debts.

Doesn't sound like a winner's strategy.
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WhiteTara Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-24-11 08:07 AM
Response to Reply #1
4. if your winning strategy is win/lose
not win/win it is. He didn't eat the debts and he got to keep the comb over. A liar in the most basic sense...can't admit he is bald.
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backscatter712 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-24-11 08:03 AM
Response to Original message
2. As Lewis Black put it, he BANKRUPTED A CASINO!!! WHERE THE HOUSE ALWAYS WINS!!!
Unless it's Trump's house.

Seems to me that you'd have to have complete and utter brain damage to mismanage a casino into bankruptcy. You've got customers literally giving you free money, pouring into the slots - how can you not make a shitload of money? Donald Trump found a way.
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Historic NY Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-24-11 08:12 AM
Response to Reply #2
6. +100,000,000
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Countdown_3_2_1 Donating Member (778 posts) Send PM | Profile | Ignore Sun Apr-24-11 08:05 AM
Response to Original message
3. Walt Disney went bankrupt five times
before he hit it big.

I've filed for bk more than 10 years ago. Am I somehow unqualified from office?

I can think of a 100 better reasons not to vote for an elitist like Trump...For one, does anyone want to hand the rich even more power? Can a rich guy really tax the rich?

Trump has far greater problems under the surface...he could not survive the scrutiny of a real campaign.
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pintobean Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-24-11 09:01 AM
Response to Reply #3
7. His next bankruptcy could be the USA
Nah, he's too sleazy to get elected.
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CBHagman Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-24-11 08:10 AM
Response to Original message
5. Ah, the era of reality TV...
Edited on Sun Apr-24-11 08:11 AM by CBHagman
...where the celebrity culture is taken to extremes, and attention (to say nothing of cash) is lavished on people who, to borrow a phrase and a sentiment from Mr. Bennet in Jane Austen's Pride and Prejudice, cannot prove they have spent 10 minutes of every day in a rational manner.

And who made Mr. Dead Animal on the Head an arbiter of who's a loser and who's a winner? I've stood in puddles that weren't as shallow as this vulgarian.

On edit: DUers, speaking of reality TV culture, be sure to check out the latest Utne Reader and its cover stories on narcissism.

http://www.utne.com/daily.aspx
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Yo_Mama Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-24-11 09:05 AM
Response to Original message
8. I was not aware Trump had a reputation as a great businessman
His reputation is rather that of a great dealmaker who is adept at keeping the profits and diverting the losses elsewhere.

On the other hand, people are so sick of the pandering to the big banks that if Trump ran with a motto of "Vote for me, I'll screw the banks!" he might get a lot of votes.
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laconicsax Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-24-11 09:22 AM
Response to Reply #8
9. He went bankrupt running a casino.
I think that kinda rules out the possibility that he's "adept at keeping the profits and diverting the losses elsewhere."
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