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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: Lane3 who wrote (4885)	1/5/2017 4:05:10 PM
From: i-node	Respond to of 356038

Remember, though. They're stories, and they always have two sides. Or more. I know you will. I can say this much that we do know for sure. In that Atlantic City fiasco, where these complaints have generally been spouted from, no one took the kind of haircut Donald Trump did. Unsecured creditors who had provided services to those businesses generally got 85% of what was owed them. I'm sure there are exceptions, but back when I was reading up on those bankruptcies that is what was reported. It is true that many only got 50% at the time, and another 35% later. NO ONE CAN FILE FOR BANKRUPTCY without pissing some people off. That is the entire point of it -- to do the best you can. Your post makes it sound as Trump merely absconded with the money. He lost A BILLION DOLLARS in that deal and gave up practically everything he owned when it happened. It was around this time that Ivanka was shown on HBO relating the story of walking into one of his buildings with him. He stopped out front where a bum was sleeping, and said to her: "You see that guy over there? He's a billion dollars richer than I am." If you have watched as people -- particularly owners of close corporations -- go through Chapter 11 proceedings -- they are not "glad they got away with it." They are recognizing their own failures as well, and almost always want to recover. I'm sorry. But when you're in business, one of the risks you face is the bankruptcy of a debtor. I've written off plenty from people who could never pay what they owed. It is a cost of doing business and it is seldom personal.