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(Politico)   Want to get a rise out of Donald Trump? Just ask him on Twitter why he declared bankruptcy   (politico.com) divider line 18
    More: Amusing, Donald Trump, Twitter, business magnate, bankruptcy  
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5882 clicks; posted to Entertainment » on 13 Sep 2013 at 12:56 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



Voting Results (Smartest)
View Voting Results: Smartest and Funniest

2013-09-13 02:02:49 AM  
4 votes:
Remember: when the rich file bankruptcy, it's a strategic financial tool. When middle-class people do it, they're gaming the system and a drain on the economy.
2013-09-13 05:28:12 AM  
3 votes:
Real tired of hearing about the Paris Hilton of capitalism.
2013-09-13 05:25:33 AM  
3 votes:

mediablitz: Donald is technically right. HE never filed for bankruptcy. His COMPANIES filed bankruptcy, over and over and over...


He came very close to personal bankruptcy in the late 1980s, when the real estate market collapsed and he had to sell off personal assets (the yacht, etc) and put other assets into hock (the Trump Tower apartments, the Palm Beach estate which he tried to sell, etc) to make his creditors happy.  He was lucky that the recession was short-lived and that his administrators managed to structure everything so that he didn't lose his shirt and that he came out of it quickly.

If I had the chance what I'd ask him is how you bankrupt casinos THREE TIMES! The last time around the settlement was so sever that he's not physically allowed in any of the properties in Atlantic City.
2013-09-13 05:56:15 AM  
2 votes:

Dwight_Yeast: If I had the chance what I'd ask him is how you bankrupt casinos THREE TIMES!


Indians who weren't born millionaires are better managers than Trump.
2013-09-13 04:39:22 AM  
2 votes:
Ahh, the rich old white guy calling the black guy a racist.  Always entertaining.

Sure, the black guy has written a lot about what it means to be black today, but I don't detect any actual anti-white sentiment coming from the ex-Rolling Stone writer and current suit-on-a-news-channel.
2013-09-13 03:05:11 AM  
2 votes:
Donald Trump fails time after time, yet gets money thrown at him constantly.  Meanwhile, there are some incredible innovators who cant even make the needle rise on Kickstarter or Indiegogo.  We live in a backwards, messed-up world.
2013-09-13 01:29:34 AM  
2 votes:
Trump is hysterical in the way he often characterizes people's intellectual level or worth, by their TV ratings. I guess Honey Boo-Boo is wiser than Marilyn Vos-Savant or whatever. Meanwhile, Trumps ratings re so low his show's gone into a coma-retreat.
2013-09-13 01:10:38 AM  
2 votes:
I'm just glad Trump is back in the Entertainment tab where he belongs.
2013-09-13 10:53:17 AM  
1 votes:

Mugato: Dwight_Yeast: If I had the chance what I'd ask him is how you bankrupt casinos THREE TIMES!

Indians who weren't born millionaires are better managers than Trump.


Don't forget the mob ran Vegas casinos for forty years.
So uneducated sociopaths can run them and do it so well that the corporations buy them out. Yet this guy selling his own MBA program can't cut it?
2013-09-13 10:41:26 AM  
1 votes:

Dwight_Yeast: mediablitz: Donald is technically right. HE never filed for bankruptcy. His COMPANIES filed bankruptcy, over and over and over...

He came very close to personal bankruptcy in the late 1980s, when the real estate market collapsed and he had to sell off personal assets (the yacht, etc) and put other assets into hock (the Trump Tower apartments, the Palm Beach estate which he tried to sell, etc) to make his creditors happy.  He was lucky that the recession was short-lived and that his administrators managed to structure everything so that he didn't lose his shirt and that he came out of it quickly.

If I had the chance what I'd ask him is how you bankrupt casinos THREE TIMES! The last time around the settlement was so sever that he's not physically allowed in any of the properties in Atlantic City.


You must understand, he was going through a divorce.  He had to be broke, or his wife and kids might have gotten a small portion of his fortune.  As soon as it was settled, he could go back to being filthy rich again.
2013-09-13 09:50:30 AM  
1 votes:
Personally, I'm astonished at how much time Trump spends online insulting his critics. It's almost as if he has nothing better to do...
2013-09-13 09:09:56 AM  
1 votes:

I sound fat: Did he really call her a dumb racist moron?

/  I want to Donald Trump to call me a dumb racist moron.

//  he really hasnt delcared bankruptcy?


Mock him on Twitter. The guy's incredibly petty, eventually he'll respond, if you're mean enough.
2013-09-13 08:01:14 AM  
1 votes:

cepson: But in a privately held corporation, the stockholders can reap salaries, consulting fees, and dividends far in excess of the value of their stock until the company gets bled dry, then put the company into bankruptcy, wiping the debts clean. Obviously, this has to be done in a very clever way, because otherwise it's just considered fraud and if done sloppily, the stockholders can actually be liable for the corporation's debts.


So, Mitt Romney?
2013-09-13 04:21:11 AM  
1 votes:

ecmoRandomNumbers: Remember: when the rich file bankruptcy, it's a strategic financial tool. When middle-class people do it, they're gaming the system and a drain on the economy.


Precisely what pisses me off about Trump and assholes like him.
2013-09-13 02:42:34 AM  
1 votes:

Representative of the unwashed masses: mediablitz: Donald is technically right. HE never filed for bankruptcy. His COMPANIES filed bankruptcy, over and over and over...

So, smart businessman who didn't expose himself to too much liability is a bad thing?


I don't know. Is it, in this case?

Is this a loophole he's using that allows him to privatize gains and socialize losses? Do these losses get dumped on people who have no means of defending themselves and weren't responsible for the failures? Did bankruptcy prevent these artificial entities from becoming homeless on the street and giving hand-jobs for crack?

Or, is it something more innocuous that honestly shouldn't offend the average person of minimal means and options?

Again, I don't know. But, if the former explanation is more relevant, then yes, that would be a bad thing.
2013-09-13 01:28:56 AM  
1 votes:

Representative of the unwashed masses: mediablitz: Donald is technically right. HE never filed for bankruptcy. His COMPANIES filed bankruptcy, over and over and over...

So, smart businessman who didn't expose himself to too much liability is a bad thing?


Bankruptcy is a way for debtors to obtain relief from creditors. What that typically means is that the debtor avoids having to pay back all its debts, at the expense of the creditor. In a publicly traded company, the stockholders usually lose money when a corporation declares bankruptcy, because stockholders are the last in line to be paid, and there's usually no money left over or the reorganization plan renders their stock virtually worthless. But in a privately held corporation, the stockholders can reap salaries, consulting fees, and dividends far in excess of the value of their stock until the company gets bled dry, then put the company into bankruptcy, wiping the debts clean. Obviously, this has to be done in a very clever way, because otherwise it's just considered fraud and if done sloppily, the stockholders can actually be liable for the corporation's debts. But a corporation that hires good lawyers can make it look like they just made some bad business decisions.
2013-09-13 01:11:20 AM  
1 votes:

mediablitz: Donald is technically right. HE never filed for bankruptcy. His COMPANIES filed bankruptcy, over and over and over...


Well, technically correct *is* the best kind of correct.
2013-09-13 12:19:13 AM  
1 votes:
Hey, look! They both got what they wanted!

Outstanding job, Politico. Just well done.
 
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