Business Bankruptcy Law | Small Business Bankruptcy Laws

Let’s look at his record of leadership and business acumen.

Trump inherited his father’s business and millions

In 1991 Trump’s Taj Mahal Casino fell into bankruptcy… Trump bankrupted… a Casino! It takes a special kind of business acumen to bankrupt a Casino. It happened because of questionable business practices that Trump used to prop the Casino up, including junk bonds.

It was revealed around this time that Trump had 900 million dollars of personal debt. 900 million dollars of personal debt. His businesses had 3.5 billion dollars of debt. This is the man that you want elected to be president in a time when Republicans are calling for a balanced budget. Sure, he’s one of the few human beings who has ever accumulated anything close to our nations debt, but unlike Trump, the US can’t just declare bankruptcy and move on.

In 1992 Trump’s Plaza Hotel filed for Bankruptcy.

By 1998 Trump’s business was having difficulty keeping up with even the interest on his 3 billion dollars in debt, even with some elaborate restructuring.

During these years Trump’s influence in his companies were continually dropped lower and lower as shareholders lost faith in Trump’s ability to even get dressed in the morning. Trump’s ownership of his companies dropped from 56 percent to 27 percent in 2004.

Trump Hotel’s and Casino Resorts filed for Chapter 11 Bankruptcy again in 2004. As a result Trump was forced to relinquish his role as CEO.

In 2009 Trump Entertainment Resorts again filed Chapter 11 Bankruptcy (this is getting redundant, isn’t it?).

For those keeping score, Trump:

TWICE bankrupted his Casinos.

THREE TIMES filed for Chapter 11.

If you’re looking for someone who can drive the U.S. economy into the ground, then I think you’ve found your man. After all, if the man can’t make a profit on a Casino, what kind of magic is he going to pull when the U.S. is facing record debts and the possibility of a double dip recession?

Oh, and in case you think that he’s some conservative hero, don’t forget that when he tried to run in 2000 he came out in favor of Universal Health Care.

Recently, the biggest financial company Lehman Brothers filed chapter 11 bankruptcy protection on September 15, 2008. A Chapter 11 of the US Bankruptcy Code protects a bankrupt company from its creditors while it reorganizes its businesses with a view to becoming profitable again. The bankruptcy of Lehman Brothers is the largest bankruptcy filing in U.S. history with Lehman holding over 0 billion in assets. According to Bloomberg, Lehman Brothers filed the reports with the U.S. Bankruptcy Court; Southern District of New York (Manhattan) on September 16th indicated that J.P. Morgan provided Lehman Brothers with a total of 8 billion dollars in "Federal Reserve-backed advances." The cash-advances by JPMorgan Chase were repaid by the Federal Reserve Bank of New York for billion on September 15th and billion on September 16th. The impact of Lehman Brothers bankruptcy filing was huge in the stock market. The Dow Jones closed just over 500 points on September 15, 2008, at the time the largest drop by points in a single day since the 9/11 attack.

Concerning this "bailout" and people who so *Badly* want this to happen….

are these NOT the *Exact* same people who did *Not* want the people of America to file "Bankruptcy" so changed the law in 2005 so that *Now* us "regular" folks have to pay the bankruptcy back?
https://www.totalbankruptcy.com/bankruptcy_law_updates_year_later.htm

***Now*** they want to "Bailout" (or should I say grant a bankruptcy to) these people…

They too, should be required to take "special classes on *How* to conduct business in a proper mannerr.

They too, should be required to "Pay Back" their protion of this 700 BILLION Dollar Bankruptcy…. (clearing throat…) I mean "BailOut"

That they want us "regular" folks to pay for in OUR taxes and our Children’s taxes and our Children’s Children’s taxes and so on and so on. (When will this 700 Billion Dollars be cleared up?!?! LOL!!!

Do You Agree?