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Donald Trump Filed For Bankruptcy 5 TIMES – Spread The Word! UPDATED!

After just watching Donald Trump spewing his birther crap on The Daily Rundown, I noticed how defensive the twice bankrupt Donald Trump got when Chuck Todd asked him about his bankruptcies. He clearly doesn’t like people talking about them. Would you want a guy running the country who went bankrupt twice? I don’t think that is a good resume piece for someone who wants to balance our budgets. And really, anyone who is so fucking attention hungry that he will use a proven lie (birther) to get attention, really shouldn’t be taken seriously on anything. He’s a freakin circus side-show, and no offense to circuses either. So I personally want to bring attention to his two bankruptcies. Did I mention that Donald Trump went bankrupt twice. I think I did. From LegalZoom (of all places) answering the question “How does Trump repeatedly file for bankruptcy and still stay on top…

No Personal Involvement

First, Trump doesn’t get personally involved. He knows how to protect his personal finances. In both instances, Trump’s corporations have filed for bankruptcy; Trump personally has not. Hence, when his casino fell into about a billion dollars in debt, the corporation filed for Chapter 11. Trump only made the decision to do so once he had spoken to his banks and bondholders. But, by filing, he gave his business the opportunity to regroup and reduce his business debt. It didn’t hurt however that it would also reduce his personal debt, as Trump is likely the one every creditor would look to if the Taj Mahal couldn’t pay up. So, in fact, Trump avoided potential lawsuits from credits and he may have also avoided personal bankruptcy by keeping his own bank account insulated.

Trump, it appeared, had triumphed. His company had dire financial problems but seemed to rise just as quickly from those bankruptcy ashes. Just three years later, he combined the hotels into the publicly held Trump Hotels and Casino Resorts.

For several years, the new company enjoyed double digit stock prices. His personal fortune in turn also skyrocketed. And the man who came close to losing it all leapt onto Forbes’ most wealthy list.

Yet, Trump’s public company would eventually fall…again. Within a few years of soaring high prices, the company stock had fallen into single digits. The one-time powerhouse company remained profitless and struggled just to pay the interest on the $2 billion debt. Trump claimed that the properties were unable to make the improvements necessary for keeping up with its flashier competitors. These financial troubles led to Trump’s second trip into bankruptcy.

Donald Trump’s two bankruptcies are his “birther” story, spread the word.

UPDATED: Corrected Title to 5 Times

BUMPED UP FROM THE COMMENTS (by Grant in Texas)

Donald Trump has filed for bankruptcy FIVE times, and although not getting as far as costing us taxpayers directly, he did fleece millions from banks and bond holders (who in essence then paid less income taxes due to write-offs for their losses, so we taxpayers essentially/eventually got screwed, too).

http://www.mademan.com/mm/how-many-times-has-donald-trump-filed-bankruptcy.html

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March 31, 2011 - Posted by | Politics, Republican Party | ,

12 Comments »

  1. The only party that is desperate are the Republicans, but its to “kill the middle class”, they will lose!

    Let me just say that Trump may just be “rattling the Birthers cages”, he can run or he may have grown accustomed to media attention this non-issue would create.

    The current Republicans only know how to a) Start Wars not Win them (talk about no exit strategy), b) Fire more middle class worker, c) Deny middle class worker healthcare, d) Break unions. e) Take chice away from women, f) Act like they are not responsible for the financial collapse and the deficit, yup thats about it.

    Our current President travelled under a USA passport long before he was elected President, but I guess the quacky BIRTHERS, must believe that the USCIS – United States Passport was in on the lie, please, grow up, you are wrong!

    The Birthers just HATE and can’t debate!
    Have any of the quacky BIRTHERS presented any credible proof that will standup in court? Answer: No
    Have any of the quacky BIRTHERS won any Court Cases? Answer: No
    They are just mainly backward, uneducated, white people who HATE our half black President.

    The majority of the voting public ask “where the proof”, show some proof BIRTHERS or the voting majority will continue to see you as dumb, stupid or racist, maybe all three. Can you blame them?

    Still, I really hope one of these retreads and blowhards runs for president, not because they have a chance of winning but because I like to see the train wreck that they will cause.

    Faux News Candidates:
    former Alaska Gov. Sarah Palin ”The I graduated Early”,
    former House Speaker Newt Gingrich, R-Ga. “The I Love The Interns”,
    former Arkansas Gov. Mike Huckabee “The Huckster Reverend”,
    former Sen. Rick Santorum, R-Pa. “The I Love the Gays”,
    former UN Ambassador John Bolton “The I Love The War ”

    I Finance Myself:
    real estate celebrity developer, Donald Trump, “I took my Casino into Bankruptcy, just imagine where I can Take the US”
    former Massachusetts Gov. Mitt Romney “The Flip-Flopping Fudger”,
    former Florida Gov. Jeb Bush “The I Am Not My “Dumb Ass” Brother”,

    Employed Long Shots:
    Rep. Michele Bachmann, R-Minn. “The History, I Don’t Need No Stink’n History”,
    Mississippi Gov./ former tobacco lobbyist, Haley Barbour “The last White Hope”

    Comment by Montana | March 31, 2011 | Reply

  2. You did forget to add another chapter in Trump’s business successes. His bankrupt Baja project that left a lot of people with deposits on condo’s holding worthless paper.
    They shouldn’t matter because they are rich and can afford the loss but, it is another one of Trump’s non-successes.

    Comment by atlanta ralph | April 1, 2011 | Reply

  3. Anyone who votes for Trump, are probably the same ignorant people that voted for “The Boy King”, George W. Bush, TWICE!

    Comment by Terry Smith | April 7, 2011 | Reply

  4. 70% of americans would also like to see Obamas birth cert, why did Obama spend 2 mil. to keep it locked up, Trump went bankrupt twice and both times they were chapter 11 Reorganizing, the taxpayers didnt get stuck for single penny, unike Obamas bankruptcy of america where we all will end up paying. another famous person went bankrupt twice Abraham lincoln, SPREAD THE WORD

    Comment by pblinds@yahoo.com | April 8, 2011 | Reply

    • Can our TROLL pblinds here present ANY CREDIBLE DOCUMENT that Obama spent ANY money to have his original birth certificate “locked up”. The former REPUBLICAN Governor Lingle of Hawaii has testified she has seen the original! I challenge TROLL pblinds to DOCUMENT this statement other than articles from REICH-wing Orly Taitz or WorldNutDaily where I have already visited. “Tell a LIE often enough…..!” to paraphrase the Nazi propagandists.

      Found at the website of the original “birther”, WINGNUT Orly Taitz: “Original, vault copy birth certificate: Not released (attorney’s fees are estimated to be up to about $2 MILLION now, instead of HI birth certificate fee of under $20 bucks)”

      From WINGNUT Alan Keyes (Obama beat the non-citizen of Illinois in the run for the U.S. Senate): “[Obama] is spending hundreds of thousands, if not millions, of dollars to keep this information from getting out,” said Keyes through his lawyer Gary Kreep, when they were involved in the lawsuit against Obama in California to prevent the state from certifying its election results. [Note how hundreds of thousands morphs into millions in one statement?]

      Keyes called the citizenship issue “the greatest crisis this nation has ever seen” and warned of “chaos, confusion and civil war.” (note how Trump has now paraphrased this statement?)

      The “birther” arguments aren’t based on logic, not even on flawed logic. They are conspiracists who believe a LIE because they want to believe. They are made up largely of stupid, unstable, angry racist wingnuts and not-quite-as-stupid-or-unstable ringleaders (like Trump) with a vested interest in riling up the stupid angry wingnuts, because they are unable to get what they want through LEGAL, socially or morally acceptable means.

      Comment by Grant in Texas | April 9, 2011 | Reply

  5. Donald Trump has filed for bankruptcy FIVE times, and although not getting as far as costing us taxpayers directly, he did fleece millions from banks and bond holders (who in essence then paid less income taxes due to write-offs for their losses, so we taxpayers essentially/eventually got screwed, too).

    http://www.mademan.com/mm/how-many-times-has-donald-trump-filed-bankruptcy.html

    So our TROLL pblinds here says that 70% of Americans want to see Obama’s original birth certificate? Where did our TROLL hear this…at Faux News or some wingnut site? In Googling, the only source I have found even coming close to the 70% number is the REICH-wingnut Life and Liberty PAC. They said it now the knuckle-draggers all over are PARROTING the LIE. Anyway, polls are a dime a dozen, some reputable, many are not.

    Most Americans have never seen their ORIGINAL birth certificate and most don’t care since copies suffice, so 70% I find to be greatly exaggerated. I went to the courthouse in the county where I was born years ago and got a whole stack of “Certificates of Live Birth” as after an original fee, could get as many copies as I wanted for like $1 more each. Glad I did as I moved to Texas and needed one for my new Texas Driver’s License, another one for Texas A&M graduate school, then I’ve have needed more for the 3 passports I’ve held since. I still have a couple of certified copies in my file cabinet. The lady at the County Recorder’s office went into a vault-like room, and I could see her through the door pulling out a big ledger. She then filled out my certificates, signed them, and pressed a county seal onto the paper. However, I have NEVER seen the original but my mother does remember seeing my newborn feet inked and pressed onto a document. My “copies” don’t have my baby footprints, of course.

    Comment by Grant in Texas | April 9, 2011 | Reply

  6. What a silly bunch of posts.

    “The Birthers just HATE and can’t debate!”
    Let’s debate then. With facts and not emotional responses and lame slogans.

    “Have any of the quacky BIRTHERS presented any credible proof that will standup in court? Answer: No”
    The only person that can submit any evidence in this case is Obama, which he has refused to do. In fact he’s spent million to avoid doing so. All he would have to do is show someone his birth certificate, not certificate of live birth, which is not the same, yet he refuses to do so.

    “They are just mainly backward, uneducated, white people who HATE our half black President.”
    No one cares if he’s half black. The only people making that an issue is the left who want to use it as a straw man so they can knock down every time they have no facts to support their arguments. As for your name calling; I thought the left was supposed to be the all accepting party of love and happiness. Sure a lot of hate coming out of your own mouth.

    As for the candidates you have listed. The right doesn’t want any of them. If they did, they would have turned out in big numbers last election to vote for them.

    Now, do you have any real issues you want to complain about, or is it only about Trump and Obama’s citizenship? How about the massive overspending? Democrats controlled the budget and spending for the past 6 years. In fact Pelosi said ‘No new deficit spending’ then went on to spend an additional $5.2 trillion. You want to talk about that? What about the war you want ended? Did they manage to stop funding it and bring the troops home like they said? No. How about Obama; Did he keep the unemployment below 8% like he said he would? No. How about that $2,500 health care premium reduction? Did he do that one yet? No. In fact premiums have only gone up even after the government health care takeover. How about bringing the troops home, has he done that one yet? Nope.

    All we have is a President that is either inept or doing this on purpose. He’s failed miserably to lower unemployment. Failed miserably to do anything that would help recover the economy. Failed miserably to stop the overspending and do something about the deficit, which democrats complained non-stop over for 8 years of Bush, but now do absolutely nothing. Has done nothing regarding energy independence and the skyrocketing gas prices that are killing the middle class. In fact, he’s done the opposite making the situation worse than if he would have done nothing. He has done nothing to create any resemblance of stability so that the country can recover economically. Businesses don’t know whether to hire, or make capital investments in the company’s because they don’t have a clue how much more it’s going to cost to pay for this health care mandate, or if their taxes are going to go up or not.

    See. These are real issues that affect the country. Not that he won’t release his birth certificate, not Trump, and not all the name calling you do in your post.

    You want a debate? You couldn’t handle a debate.

    Comment by OC | April 18, 2011 | Reply

    • You cannot debate somebody who has their head up their ass, as it muffles their responses. But our TROLL OC can “cut and paste” from his most mendacious REICH-wing sources. Except Sarah Palin says that Obama has spent TWO million to hide his birth certificate, all of course without any PROOF! I have been issued driver’s licenses in several states now, had three U.S. Passports, been admitted to a couple of colleges, all using ONLY my certificate of live birth. I have NEVER seen my original!

      Comment by Grant in Texas | April 18, 2011 | Reply

  7. No surprise that an Orange County, CA Republican sent out this racist email, with a caption: “Now you know why — No birth certificate!” so Trump is feeding into the REICH nutjobs. The Party of Lincoln is no more, long ago hijacked by racists.

    http://static01.mediaite.com/med/wp-content/uploads/2011/04/featured-hate-e-mail.jpg

    Comment by Grant in Texas | April 18, 2011 | Reply

  8. “Donald Trump Filed For Bankruptcy 5 TIMES –
    Spread The Word! UPDATED! Extreme Liberal’s Blog” in fact got me personally simply hooked with ur webpage! I personallywill probably be back considerably more frequently. Thanks -Jamie

    Comment by http://tinyurl.com/hevihugh44640 | February 5, 2013 | Reply

  9. Does anyone know how much money in grants that Donald Trump has received over the years? If you compare what many wealthy people pay in taxes, you will see after the write offs they pay very little compared to a working man. The rich do not create jobs, consumers do! There is nothing wrong with being rich if you did it the honest way. The millions in grants and other perks that many rich have received in tax money, should that have to be paid back now that they are doing so well?

    Comment by harold galusha | February 16, 2014 | Reply

    • Donald was one of those “self-made” men whose father, Fred Trump, left an estate of $400 MILLION to his five kids including Donald. How many of could become “self-made” gazillionaires if we had been born into such wealth?

      Comment by grantinhouston | February 22, 2014 | Reply


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