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http://www.myajc.com/news/news/national-govt-politics/trumps-bad-bet-how-too-much-debt-drove-his-biggest/np7tT/
...With the Taj, along with two casinos he already owned in the city, Trump could dominate gambling on the East Coast. But first he needed to convince state gambling regulators that he was financially stable...

...Trump said he could pull it off for one main reason: He was Donald Trump....

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...Determined to move forward, he turned to the very junk bonds he had derided in the hearing....

...Six months later, the Taj defaulted on interest payments to bondholders as his finances went into a tailspin. In July 1991, Trump’s Taj Mahal filed for bankruptcy...

...During recent GOP debates, opponents and journalists have repeatedly asked why he should be trusted to manage the country after losing lenders hundreds of millions of dollars. Trump responded that he was shrewd for using “the laws of the country to my benefit” and has distanced himself from the Taj’s troubles, saying he never personally declared bankruptcy...



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