Good article, thanks.
Why people keep posting dumb shit: finally, a scientific explanation
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Good article, thanks.
Born with millions, shit loads of millions...
No self made, no old school.
Actually a business failure after failure.
Six bankruptcies? LOL
In my native language, one bankruptcy is enough to earn you the title "failed" (fallito). People refer to you as "the failed one".
In my book, if a person has 6 bankruptcies and he's still rich, he's crooked.
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How is it that he still has the trump tower if he went bankrupt, shouldn't the trump tower cover the bankruptcy ?
ChatGPT said:
Great question! The key reason Donald Trump still has Trump Tower despite multiple business bankruptcies is that the bankruptcies he faced were related to specific business ventures, not his personal finances or all of his assets. Here's how it works:
1. Chapter 11 Bankruptcy is Business-Specific
Trump's companies that filed for bankruptcy did so under Chapter 11, which allows a business to restructure its debts and continue operating rather than liquidating. The idea is to keep the business alive while reorganizing its finances, rather than selling off all assets.
2. Trump's Personal Assets Were Separate
Trump's personal assets, like Trump Tower, were not directly tied to the companies that filed for bankruptcy. The bankruptcies were related to specific properties, such as his casinos in Atlantic City, and didn't include other ventures like his real estate holdings, such as Trump Tower. Essentially, Trump Tower was held by different corporate entities that weren’t affected by those bankruptcy filings.
3. Business Strategy of Limited Liability
Trump, like many businessmen, used separate corporate entities for each project or property. This limits the risk of one failed venture affecting his entire portfolio. For example, if one of his casinos went bankrupt, only that specific company and its assets would be involved in the bankruptcy proceedings. The creditors couldn’t go after unrelated properties like Trump Tower.
4. Negotiating with Creditors
In many of these bankruptcy cases, Trump negotiated with his creditors to restructure debts, often retaining partial ownership of properties while reducing his liability. Creditors sometimes prefer restructuring to liquidation, since it gives them a better chance of getting repaid over time.
So, while his casinos and other businesses may have gone bankrupt, Trump's personal assets, such as Trump Tower, were protected because they were legally and financially separate from the bankrupt businesses.
He might not be dumb, or dumber than Cheney, but as a businessman he's more prone to sell the country for his own benefit. Trump isn't running because he so much loves this country. He's in it for his own glory and power.
More prone than who ? Those who came before him ? They all sold themselves out for peanuts, lowballing money Trump would be offended by.
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That's true for a lot of crooked politicians. But I think Cheney is different. He stood by his principle no matter how unpopular it was or even what others thought or felt about him or his views, eg. Iraq war. So, yeah, Trump is a self-serving POS compared to Cheney.
BTW I'm a registered Democrat.
This makes it worse lol
Screw the creditors, small or large.
Save your personal asset.
Terrible at business ventures.
It doesn't sound like a self made anything.
Interfering the Middle East never made sense to me so I got Cheney right around the bottom of the list of politicians as a neocon warmonger -spread democracy everywhere- sell out. You have to be on a puppet strings to allow that to happen really.
Sound what ?