How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions

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    Sep 15, 2016 9:21 PM GMT
    “People underestimated Donald Trump’s ability to pillage the company,” said Sebastian Pignatello, a private investor who at one time held stock in the Trump casinos worth more than $500,000. “He drove these companies into bankruptcy by his mismanagement, the debt and his pillaging.”

    Trumps casinos had 5 bankruptcies.

    http://www.nytimes.com/2016/06/12/nyregion/donald-trump-atlantic-city.html

    His business acumen is extremely over rated.
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    Sep 15, 2016 9:29 PM GMT
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    Sep 16, 2016 4:24 PM GMT
    Unfortunately we cannot really judge the other candidate's business expertise since she has never founded a company or had to meet a payroll. She has never risked her own capital and has built nothing.

    Her dabbling in the futures market years ago was rigged with the assistance of insiders.

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    Sep 16, 2016 5:00 PM GMT
    desertmuscl saidUnfortunately we cannot really judge the other candidate's business expertise since she has never founded a company or had to meet a payroll. She has never risked her own capital and has built nothing.

    Her dabbling in the futures market years ago was rigged with the assistance of insiders.


    "Business expertise"? Spare us the BS. Trump received a fortune from his father (not a bad start) and has a long history of dabbling with other people's money (including that of taxpayers).

    Donald Trump 'used other people's money to donate to charity'
    http://www.independent.co.uk/news/world/americas/donald-trump-charity-family-foundation-tax-veterans-fundraising-other-peoples-money-a7236686.html

    Donald Trump took a massive gamble in Atlantic City ... it didn't pay off
    When Trump first invested in Atlantic City he told regulators he would never rely on junk bonds as others had done. ”Well he did,” said Perskie. “He never invested 10 cents of his own money in any of this,” he recalls.

    http://www.thejournal.ie/trump-atlantic-city-2697241-Apr2016/

    Trump has thrived with government's generosity
    The presidential candidate and opponent of big government has relied on tax breaks and federal funding to build his real estate empire.

    http://articles.latimes.com/2011/may/11/nation/la-na-trump-20110511


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    Sep 16, 2016 5:21 PM GMT
    desertmuscl saidUnfortunately we cannot really judge the other candidate's business expertise since she has never founded a company or had to meet a payroll. She has never risked her own capital and has built nothing.

    Her dabbling in the futures market years ago was rigged with the assistance of insiders.


    Which must be why "Leo Melamed, a former chairman of the Merc who reviewed the records for the White House" said " I have no reason to change my original assessment. Mrs. Clinton violated no rules in the course of her transactions," and the story notes that "While Clinton's account was wildly successful to an outsider, it was small compared to what others were making in the cattle futures market in the 1978-79 period." *

    So she rode a wave up and got out in time? That's your charge of a crime? For lucking into that market timing most of you asshole Republicans would label yourselves a financial fucking genius. Meanwhile, others who didn't luck into timing it right lost a shitload more than she made: "Blair and others stayed in the market longer than Rodham and lost a good amount of what they had earlier made later that summer and fall, showing that the risk was real. Indeed, some reports had Blair losing $15 million and Bone was reported as bankrupt." **

    * http://www.washingtonpost.com/wp-srv/politics/special/whitewater/stories/wwtr940527.htm
    ** https://en.wikipedia.org/wiki/Hillary_Rodham_cattle_futures_controversy#Official_findings

    So on that, you've got nothing but cough bullshit cough.

    She doesn't have Donald's business record of bankruptcies nor the successes of his scams, though, to be fair, it should be noted that so much of her life has been in the public sector.

    Fortunately, however, we do have what little there is of Donald's experience with diplomacy; it's deplorable.

    And though he is hiding his tax records from the American electorate, we do know that his commitment to "meet a payroll" entails forcing free labor both by insisting upfront on gratis work (which I've know about for decades personally through a professional acquaintance) and by stiffing small business contractors who rightfully relied on his promise to pay which he reneges upon, profiting himself by leaving them shit out of luck. That's what you call meeting payroll? Are you out of your fucking mind? How about that he pays back his debts pennies on the dollar? That's meeting payroll? How would that play towards the US dollar as reserve: your con man would lose our currency its confidence.

    Now I know you're going to come back with how you think liberals don't understand business, that in between his successful scams some bankruptcies may have aided befallen his efforts towards accumulating the money of others, so if that is what you're about to charge, please remember your own complaint the next time you put yourself into the hands of a surgeon who has operated successfully 100s of times but has only 3 malpractice suits for wrongful death against him. Now try to relax and count backwards from 100 please.
  • tazzari

    Posts: 2937

    Sep 16, 2016 5:49 PM GMT
    Just think how this will play out when he has our taxes to play with!