The Manhattan district attorney’s office has informed Donald J. Trump’s lawyers that it is considering criminal charges against his family business, the Trump Organization, in connection with fringe benefits the company awarded a top executive, as well as the Co manipulating financial data in loan applications and property tax filings. https://www.nytimes.com/2021/06/25/nyregion/trump-organization-criminal-charges.html once the Trump co is indicted, its creditors, mostprobably, will demand payment on their loans. to the extent that Trump co is heavily leveraged, its only recourse is to declare bankruptcy. This would be the7th bankruptcy for the Trump organization here is the chronology of Trump's previous bankruptcies" In the 1980s, Trump bet big on the rise of Atlantic City after New Jersey legalized gambling there. He acquired three casinos that by 1991 couldn’t pay their debts. The Taj Mahal declared bankruptcy in 1991, the Trump Plaza and the Trump Castle in 1992. Lenders restructured the debt rather than liquidate and Trump put his casino holdings into a new company that went bankrupt in 2004. The company that emerged from that restructuring declared bankruptcy in 2009. Trump’s 6th bankruptcy was the Plaza Hotel, which he bought in 1988. It went bankrupt by 1992.
Criminal charges expected Tomorrow, 1 Jul 2021, against Trump's company and its CFO once the Trump co is indicted, its creditors will demand payment on their loans. to the extent that Trump co is heavily leveraged, its only recourse is to declare bankruptcy.
Trump was the perfect failure of a man and president for the ass-injected Kim K generation of empty, brainless, and soulless ego reality tv generation. puke
Trump is great because he pisses off the right people. That is why people like him. No one cares about his businesses. Especially when Chi-Coms post about it.
Imagine being a mega supporter of a political leader because he is horrible enough at pretty much everything in life to the point that pisses people off that he has power to make the country and the lives of many of its people worse. Your post here is really telling about you personally. How sad is your daily life that you only get excitement from other people's disappointment & pain. The man led the charge to separate children from their parents. His actions led to 140 police offers being hospitalized when he tried to overthrow a democratic election. He led the charge during a pandemic to undermine the pandemic response which led to the lives of all Americans being put in disarray by that pandemic instead of having a normal response that most countries around the world were able to have. People are right here that this is not consequential to Americans lives. But this one issue for him is not really the point. The point is the guy is a con artist and a grifter. Not an American leader, and the real problem in America is people like yourself who like him not because of his policies, but because you hate the majority of Americans this much that you would enlist said con artist to abuse the country.... not for personal gain through policy, but purely out of spite. Pretty sad stuff dude. Your post sort of says it all.
Trump loves bankruptcy. He gets out of debt with pennies on the dollar!!! The Manhattan DA just did Trump a huge favor.
Yep. It's not about whether he's making things better, principles, or even ideology. It's about that he pisses off the "right people". It's all about owning the Libs and not whether he is good or capable.
You might be more right here than you think. Obviously Trump is going to be pissed because it ruins the mantra (if there is still anyone who believes it anymore) that he has this GREAT business empire, but the fact is being the worst president in history was terrible for his business. It was failing regardless. So bankruptcy was evident. At least for Trump this route will give him a political spin he can try to capitalize on with political relevancy he can grift off of with political donations from suckers.
private companies and oversight, a primer: https://theconversation.com/trump-o...unlike-companies-traded-on-wall-street-163698
Before the trial has even started, the Trump org statement this morning not only didn’t deny the charges but implied they knew they were doing it and pivot to they shouldn’t be charged. This is an attempt to normalize illegal behaviors for political reasons (also tapping into the victimhood rage). It’s probably not that necessary as illegal behaviors by certain individuals and groups have already been normalized or at least excused. ‘No One Care’ as we have already seen is probably half true and if that grows, we will become a nation that is less accountable and less lawful for some. I think we should care about that. Maybe instead of No One Care and dismiss so easily, wait for charge to be public and the trial to conclude.
What makes all of this sadder is that it's Trump supporters who hurt the most by his and his family's various schemes. This type of behavior is exactly the type of thing that Trump supporters claim they hate. Financial elites skirting the rules the benefit themselves.
fwiw, even public cos, despite subject immense public disclosure requirements, figure out a way to cheat for a longer period of time; when there is a will, there is a way egs include, but not limited to, Penn Central Railroad, Purdue Pharma, Enron, ZBest, VW, etc.
