longweekend58
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Karnal wrote on Nov 1 st, 2016 at 4:30pm: Panther wrote on Nov 1 st, 2016 at 4:23pm: longweekend58 wrote on Nov 1 st, 2016 at 3:10pm: He has been bankrupt FOUR times. That's not a record to be proud of. These bankruptcies didn't in any way mean the companies went belly up, not at all.
On all occasions Trump availed himself of the well crafted Law, he was able to stave off creditors by reducing the payments he needed to make on an expanded payment schedule........basically less $$ per month, over a longer stretch of time (court renegotiated the loans), thus saving the businesses while protecting the jobs of those that worked in those companies, & also keep those creditors from attaching the assets of his other vibrantly successful companies, which were still able to make substantial untouchable incomes.
Anyone that is aware of the processes involved in those bankruptcy cases, of which you obviously aren't one, would know that tens of thousands of business owners all across America do exactly the same to protect their companies every year, preliminarily because of the reasons I mentioned earlier. Trump should be commended, as well as any of the other business owners, should also be commended, for taking advantage of the American Bankruptcy Laws that were written specifically for their benefit, & the overall benefit of their companies future financial health.
In America Bankruptcy isn't as catastrophic as it is here. Individual average Americans also claim personal bankruptcy according to generous American Bankruptcy Laws, not to avoid paying off debt, but to have the court force debt renegotiation upon lending institutions that might not be willing to do otherwise, giving the individual the ability to pay down their debts at a rate that will hopefully keep their heads above water, rather than having to take up residency on the Poor Farm at the hands of the banks. Panther, every time one's debt is wiped off, someone else loses money - in this case, the owners of junk bonds in Trump's casinos. And we're talking billions - most from small investors who were sold a lemon. The banks got some back. Mom and pop went belly up. Alan Bond and Christopher Skase did it in Australia, and Donald Trump did it in the good old US of A. The business of Amerika is business. Ever get the feeling you've been cheated? I am staggered that ANYONE supports trump. The election has been a very public exercise of how some people put politics about morality, religion and pretty much everything else. It has been both enlightening and deeply saddening.
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