The Mad World of Donald Trump

antrobus

kinger101 wrote: »

...As for the four chapter 11 bankrupcy filings, perhaps Trump should stand for office in Greece.
....

On that topic. Abraham Lincoln would be one famous example of a US president who went bankrupt.

P.S. Greece seems to be quite capable of going bankrupt without any outside assistance.

vivatifosi

Well I watched it, thanks for the link cepheus. It raised a lot of interesting questions and the man is clearly repugnant. However I feel it would have been a much better programme if the presenter - Matt Frei - came across as less invested in making a programme about Trump the villain than asking what made Trump tick and finding out that he's a villain.

kinger101

antrobus wrote: »

On that topic. Abraham Lincoln would be one famous example of a US president who went bankrupt.

P.S. Greece seems to be quite capable of going bankrupt without any outside assistance.

He went bankrupt as his business partner died. He didn't crash 4 businesses. And I believe was required to repay his creditors. The are slight differences as Lincoln was personally bankrupted, whereas Trump pretty much had to hand over his failing businesses to the bank, while his private assets were protected.

I know Greece is capable of bankrupting itself, but I think Trump would be a low tax, high spend type of guy, so little different to Southern Europe (or Reagan). I'm pretty sure the Mexicans won't pay for that wall.

antrobus

kinger101 wrote: »

He went bankrupt as his business partner died. He didn't crash 4 businesses. And I believe was required to repay his creditors. The are slight differences as Lincoln was personally bankrupted, whereas Trump pretty much had to hand over his failing businesses to the bank, while his private assets were protected.....

I think there was a bigger difference in terms of insolvency law. I don't think Chapter 11 was available in the 1830s, in fact I'm pretty sure it dates back to the 1930s, and was part of the so-called New Deal.

kinger101 wrote: »

...I know Greece is capable of bankrupting itself, but I think Trump would be a low tax, high spend type of guy, so little different to Southern Europe (or Reagan). I'm pretty sure the Mexicans won't pay for that wall.

There you go then.:)

cepheus

It all begs the question, if his companies keep going bankrupt how is he still so rich? In a sentence, financial jiggery-pokery followed by a lack of personal responsibility for the damage he caused to his creditors. The moral is, don't lend to anyone who doesn't have a personal stake.

"The first business bankruptcy, he had a lot of personal liabilities, guarantees on the business debt, which would have wiped him out," Connolly said. "What he did was leverage the amount of business debt to negotiate away his personal liability. And from that, he learned not to put his personal wealth at risk anymore. And so in the next three, he didn't have any personal guarantees."

http://www.thestreet.com/story/13286068/1/the-backstory-on-donald-trump-s-four-bankruptcies.html

If he treats companies and creditors that way, how will he go on when he has his hands on the US budget? No personal liability there.

Generali

cepheus wrote: »

It all begs the question, if his companies keep going bankrupt how is he still so rich? In a sentence, financial jiggery-pokery followed by a lack of personal responsibility for the damage he caused to his creditors. The moral is, don't lend to anyone who doesn't have a personal stake.


http://www.thestreet.com/story/13286068/1/the-backstory-on-donald-trump-s-four-bankruptcies.html

If he treats companies and creditors that way, how will he go on when he has his hands on the US budget? No personal liability there.

Limited liability.

I'm no apologist for Mr Trump but he is allowed to follow the same business rules as everyone else.

antrobus

Generali wrote: »

Limited liability.

I'm no apologist for Mr Trump but he is allowed to follow the same business rules as everyone else.

And more specifically the provisions of Chapter 11 of the US code of bankruptcy, which "violate every "common sense" notion of the free market and contract law".:)

http://www.larouchepub.com/other/2002/2903_chapter_11.html

Personally, I'm not that bothered about how many times Trump has invoked the protection of Chapter 11 for one of his business ventures. I'd be more concerned about the fact that he is a racist bigot.

Generali

antrobus wrote: »

And more specifically the provisions of Chapter 11 of the US code of bankruptcy, which "violate every "common sense" notion of the free market and contract law".:)

http://www.larouchepub.com/other/2002/2903_chapter_11.html

Personally, I'm not that bothered about how many times Trump has invoked the protection of Chapter 11 for one of his business ventures. I'd be more concerned about the fact that he is a racist bigot.

That he is a pr!!! doesn't mean he should be personally bankrupted where others wouldn't have been.

I'm not even convinced that he believes what he says.

Take a look at what the writer of Dilbert says about Mr Trump and then have a bet.

antrobus

Generali wrote: »

...Take a look at what the writer of Dilbert says about Mr Trump and then have a bet.

Dilbert? I like Dilbert. Let me have a look.

I see what you mean.
http://blog.dilbert.com/post/126589300371/clown-genius

Odds look about 3.1. Seems to be a better price than Clinton who is more or less evens.:)

antrobus

Wake_up_call wrote: »

Corbyn failed a degree course in Trade Union studies. He never graduated.

I'm not sure that he 'failed' as such. He certainly dropped out fairly quickly. One account states that it was because he had a row with his tutors, but there was no indication of what the row was about. Consistently getting an 'F' on your essays might well cause a row with your tutors.:) I don't really know. But it was very likely something course-related; you don't have a 'row with your tutors' over who is going to win the FA cup.