Trump says firms' bankruptcy record better qualifies him for handling debt problems

[TexasTowelie]

Donald Trump says his firms’ record of declaring bankruptcy shows he’s good at dealing with debt problems.

Four of Trump’s Atlantic City companies have filed for bankruptcy. Trump is defending that at the third Republican presidential debate. He says the problem is the economic collapse of Atlantic City.

Trump adds that he had the legal right to file bankruptcy.

Trump concludes by noting the nation’s financial woes and saying, “Boy, am I good at solving debt problems.”

More coverage of the GOP debate at http://www.dallasnews.com/news/politics/national-politics/20151028-gop-debate-trump-says-firms-bankruptcy-record-better-qualifies-him-for-handling-debt-problems.ece .

[Skittles]

1. what an asshole

[TreasonousBastard]

2. You have no idea how that pisses me off...

Trump Air, that forgettable football league, the Plaza Hotel...

The Plaza-- a New York landmark always listed in the top hotels of the world. Trump bought it in '88 for $405 million and sunk millions more worth of glitz in it. He worked on buying the rest of Central Park South, too, but it all went *poof* during his Ivana divorce and probable bankruptcy when he sold the Plaza for $350 million. I forget if that was actually a bankruptcy sale, but nobody who takes a loss on buying the Plaza has any right to brag about his business smarts or blame it on anyone but his own bullshitting self.

Trump's entire career has been one of failure-- he can't show you operating profits because on properties he actually owns he has none. It will be a major course in B-schools how he managed to come out of it primarily by borrowing so much that the banks and stockholders were afraid of the unthinkable amount of money they would have lost if they just shut him down. Make the Penn Central bankruptcy look like an overdue car payment.

[Octafish]

3. Herr Buttplug said he was proud to use bankruptcy laws.

Basically it put food on his family and his money in Switzerland.