Extreme Liberal's Blog

Where Liberalism Is Alive and Well!

The New Balloon Boy, Donald Trump, And His Many Bankruptcies!

That Donny Trump has a pretty high opinion of himself these days and isn’t really shy in saying so. But he gets awfully defensive about his many bankruptcies and seems to think because it was the different corporations that went bankrupt, it really wasn’t him. He shielded himself pretty good, which is smart I guess. But just because you are shielded doesn’t mean it isn’t your company that went bankrupt. International Business Times has a story about it, check it out…

In an interview with Kelly Evans of the Wall Street Journal, Trump was asked if someone (like him) who has filed multiple corporate bankruptcies should be running the finances of the US, especially at a time when the national debt is so high.

Trump responded that he simply used the law of the country – namely Chapter 11 – to negotiate corporate debt deals. He also said great businessmen like Carl Icahn and Henry Kravis both have filed for corporate bankruptcies.

[...]

Previously, Trump filed for corporate bankruptcy in 1991, 1992, 2004, and 2009.

As Trump stated in the interview, these Chapter 11 corporate bankruptcies were used to negotiate debt deals. After the deals were done, all of his companies went on to survive (and in some cases thrive).

The Balloon Boy reference is from a previous post, just click here.
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April 11, 2011 - Posted by | Politics | ,

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