Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search
 

brush

(61,033 posts)
6. He lost plenty, most of it the banks money, which is why he had to turn to the Russians.
Sun May 12, 2019, 01:18 AM
May 2019

Last edited Sun May 12, 2019, 10:08 AM - Edit history (1)

The banks wouldn't loan him anymore after not getting their investments back. It cost big money to build casinos, buy an airline and all the other failed business he left in his loser tracks.

Hell, in Atlantic City he was so stupid he had multiple casinos competing against each other. He/the banks lost money on all of them.

No doubt money was laundered through them but he always over spent on his deals. He bought the Plaza Hotel, a crown jewel in NYC, but he paid way too much for it. It was reported that if the hotel had been booked full every night of the month at prime rates it still wasn't enough to pay the mortgage.

Oh yeah. He lost plenty of other peoples money because he was a piss pour businessman who didn't know what the fuck he was doing. He was all image, no substance.

Recommendations

0 members have recommended this reply (displayed in chronological order):

I have no doubt that he was up to his shriveled orange gonads The Velveteen Ocelot May 2019 #1
Your premise is inaccurate. Liberty Belle May 2019 #2
Trump's casinos were in major cities and were heavily marketed. The Velveteen Ocelot May 2019 #4
Stupidity in reading the market and mismanagement. That's how Trump lost... Xolodno May 2019 #11
Trump International Hotel Las Vegas has never had a casino dumbcat May 2019 #14
Learned something new. Xolodno May 2019 #15
I'm not really up on the Las Vegas hotel market... jmowreader May 2019 #20
Me either, but I don't think Trump is all that concerned dumbcat May 2019 #23
We did groupon for the Mob Museum. While there I thought of Trump because the mobsters called dem4decades May 2019 #26
But TheFarseer May 2019 #18
He was borrowing at very high interest rates and had borrowed a LOT Roland99 May 2019 #19
"and had an embezzlement issue" Recursion May 2019 #3
The money lost was net operating loss wellst0nev0ter May 2019 #5
He lost plenty, most of it the banks money, which is why he had to turn to the Russians. brush May 2019 #6
Well put! Rollo May 2019 #7
You can definitely lose with a casino if you borrowed too much money to run the business. nt Lucky Luciano May 2019 #8
If anyone could go broke running a casino, it's Trump jmowreader May 2019 #9
Casinos going bankrupt isn't really that uncommon, especially hughee99 May 2019 #16
The real story StickWithLove May 2019 #10
Not to forget that Trump was competing against himself in AC. Not a monopoly. no_hypocrisy May 2019 #12
That too! StickWithLove May 2019 #13
Welcome to Democratic Underground, SWL. Efilroft Sul May 2019 #17
Thank you StickWithLove May 2019 #22
Interesting post. Thank you. PatrickforO May 2019 #24
Ceasars Group was in debt for over twenty billion miyazaki May 2019 #21
Excellent avenue for investigation in Congress. Kid Berwyn May 2019 #25
I hope it's fines and jail for Mnuchin. Nt spooky3 May 2019 #28
Back in 2016 happybird May 2019 #27
Revealing taxes will reveal his laundering scam lindysalsagal May 2019 #29
Real estate depreciation customerserviceguy May 2019 #30
Maybe this is why he's so afraid of getting caught? Initech May 2019 #31
Latest Discussions»General Discussion»Trump didn't "lose" a bil...»Reply #6