How Donald Trump Cut Deals to Avoid Bankruptcy in 1990s
HTML-код
- Опубликовано: 17 окт 2024
- One way to consider the type of president billionaire Donald Trump is to examine his business career and how he steered his properties out of severe crises. WSJ's Peter Grant joins Lunch Break with Tanya Rivero to discuss. Photo: AP
Subscribe to the WSJ channel here:
bit.ly/14Q81Xy
More from the Wall Street Journal:
Visit WSJ.com: www.wsj.com
Follow WSJ on Facebook: / wsjvideo
Follow WSJ on Google+: plus.google.co...
Follow WSJ on Twitter: / wsjvideo
Follow WSJ on Instagram: / wsj
Follow WSJ on Pinterest: / wsj
Don’t miss a WSJ video, subscribe here: bit.ly/14Q81Xy
More from the Wall Street Journal:
Visit WSJ.com: www.wsj.com
Visit the WSJ Video Center: wsj.com/video
On Facebook: / videos
On Twitter: / wsj
On Snapchat: on.wsj.com/2ra...
Certainly interesting to watch this video 6years later.
How many honest hard working people lost their businesses in this con?
Should have let him go bankrupt;just think of all those heartache we could have avoided
Here we go, the little man's trademark, borrow and DO NOT PAY BACK, that is the con artist's way.
STSADaniel he did pay up
Im not sure how you can borrow from a bank and not pay back. Banks do not care who you are, they want their money and you will pay jail time for them to get it if necessary. So that was very stupid of you to say.
@@throdenday8653 He didn't pay all the money back. The banks took a haircut on the billions they loaned him, so they wouldn't lose a lot more money. They knew if they forced him
into personal bankruptcy they would kill his brand and hurt the resale of his properties. We don't have debtors prisons anymore. You only go to prison if you committed financial fraud
to obtain those loans.
Now I know why U.S. banks refuse to do business with him. He's a con man that doesn't pay his debts.
💯😉💯
Dameon Christopher Johnson
exacty.
DCJ that's for sure.
The Taj became the Hard Rock and still employs thousands of people. Same is true of Trump Castle which became Golden Nugget. Honestly, he might not have financially stayed in Atlantic City but the city still benefits from having his former properties which are the Golden Nugget now and the Hard Rock. The Plaza had too much structural decline to restore it to be profitable so it wasn't sold.
Ya know...I keep wondering why nobody reports on the past back to The Protestant Reformation Era that led us into The 30 Years' War and The European Persecutions that those on The Mayflower were escaping from. Of course, there are those that say that there Pilgrims were against Baptists when, in fact, Baptists were known as Puritans like English Minister John Smyth mentioned in The Tudor Society in regards to The Mayflower, Speedwell, and The Fortune. Of course, The Encyclopedia Britannica only seems to mention Martin Luther (Lutheranism) when talking about The Protestant Reformation when there were others like John Calvin (Calvinism), William Tyndale (encyclopedia - The first to translate The New Testament into English, Anne Boleyn (King Henry The VIII's 2nd wife who became a Protestant but was executed by King James after giving birth to a still born), John Rogers (encyclopedia / The First Martyr), Reverend Edward Wightman (The Last Martyr of The Protestant Reformation whose great grandson, Rev. Valentine Wightman married Susannah Holmes, the great grand daughter of Roger Williams. Rev. Edward Wightman was burned at the stake over his radical beliefs in 1612 after he was imprisoned for heresy. There was also Obediah Holmes that President Abe Lincoln and Susannah Holmes fell under. Susannah's 1st cousin, Sarah Bowne, was Abe Lincoln's 6th generational grandmother. I fall under Rev. Valentine Wightman's brother, Reverend John Wightman who married Jane Bentley and their daughter Mary (Wightman) Boone that married Capt. Samuel Boone Jr. whose sister, Martha, married Capt. Samuel Rhodes. Both were elected as Captains through The North Kingstown Company out of Rhode Island....Oh...I'm also definitely a U.S. Citizen. Sen. Diane Feinstein threatened social media websites like Facebook to crack down on people sharing "Potent Facts' by those she called 'Russian,' and a week later....over 800 Alternative News Media Outlets were censored as well. I never did mention who my ancestors were before that point in time until she tried making me out as a Russian. Oh....and English Minister John Smyth is mentioned in The Tudor Society in regards to The Mayflower.
Wow, this is impressive. He's obviously a fantastic negotiator and businessman.
trump didn't negotiate a damn thing his creditors told him what to do. .thump was put on an allowance
+GeomanK
You allude to Trump's corporate bankruptcies as nothing to be concerned about, since many other well known companies or individuals have also been bankrupt. What a stupid way to think regarding Trump's suitability to be President of the USA.
You might be right to a certain degree about bankruptcies being acceptable in the world of business, but this is an indication of his inability to run a country. Running a business (either successfully or poorly) is not the same as running a country. Trust me, I've owned a successful company with 60 employees for almost 25 years, but I would be incapable of being mayor of even a small city. Yes, some common traits would be required for both (perseverance, leadership, flexibility, intellectual curiosity, general intelligence etc), but they are still entirely separate things.
And BTW, even some of your assertions in your posts are wrong. Yes, people fail all the time, as they should, since it means they're trying new things, or pushing themselves or their companies to accomplish great or new goals. That, however, doesn't mean they would bankrupt a company. Not to mention the fact some of the guys you mentioned never entered bankruptcy, nor did the companies that they ran. Henry Ford and Disney did, but not the others. Your grasp of the facts are about as valid as Trump's.
thief
The_Angry_Raccoon Does your definition of a 'great businessman' include con artists? Because his method of operating a business is nothing short of an African phone scam-esque tactic.
@@hofifut
Look like you were wrong
*In bankruptcy he had $450K a month, and the poorest republicans wan't him lol, but you can't deny you've got to be smart to wiggle out of $3.8 billion in debt*
or you're too big to fail.
Nathan Jones no he's a Con
If he was so smart, Trump wouldn't have gotten into bankruptcy. And not just once, but repeatedly. Either too stupid or too immoral to do things the right way.
@@George-pf8zb or both. He couldn’t get loans in the US so he had to go abroad. We will probably find out after he leaves his presidency and we get his taxes if he didn’t wasn’t underwritten by Putin’s Oligarchs with that loan at Deutsch Bank.
The people who he owes money to when he filed bankruptcy got pennies on the dollar they were scammed by him he’s not smart he’s just a liar and a thief
No mention of money laundering. How kind!
These folks worshipping him would feel differently if it was THEM he stiffed.
Abby Road ~ They will be feeling it, Abby. They wanted Trump so bad. Well, now they've got him and he's going to take all he can.
Who did he stiff? He was in a billion dollars of debt. Obviously not everyone will get everything all the time. Trump could have lived a quiet peaceful life but chose to run for president. Getting attacked every day
Todd Taliaferro he has been great
Abby Road he went bankrupt moron
He also stiffed contractors, normal hard working business people.ruclips.net/video/TGGOwcknoCY/видео.html
Bring back that old word 'swindler'
So he didn't get a government bail out! Awesome!
Sure he did ,bankrupt
The #1 Rule in business is that the business has to survive. Everyone in business understands this especially the contractors. Good video. Trump 2016!
if you were one of those contractors that got screwed out of money you would not be saying that
Yes I would. That kind of thing happens to contractors all the time and they have insurance for it. They got what was coming to them, one way or another. If they did not have insurance that is a common risk that they took. I used to be a building contractor throughout the nation. More people need to take responsibility for their actions and quit blaming others.
Great business model. File for bankruptcy 6 times while paying off adult movie actresses to keep them quiet as you cheated on three wives. I wonder if they teach that at Trump's Wharton School of the University of Pennsylvania.
Yes
@@hilmonstigler.isaacjr9588 That's what I thought.
Why would we think that he will not use his power as a president to supply his own business
One word: BRIBE.
Chalk it up to a learning experience for Trump. Made him wiser and smarter and more knowledgeable. He's a guy that makes winning deals. He doesn't intend to lose. And that's what will count in how he leads on behalf of the country in the face of the rest of the world.
that's right fools keep making excuses for trump...hes a con man .
+39thala There was NO learning experience because his casino/resort was a wonderful place for ENTERTAINMENT. Unfortunatley however DEmocrats who ran Atlantic City allowed it to becoem a slum. There was nothing Trump could have done , other than spend a fortune creating his own police force to clean up the entire boardwalk.
JohnnyBoyCali There's always a learning experience. Even if he wasn't at fault and he was able to "clean up". Just being present and watching and witnessing anything, is a learning experience. You take things away from an experience. The man is wiser than most of those politicians on the ways of the world and the things that can happen. He's seen and witnessed and been involved in a lot. That was my real point.
***** TRUMP 2016 & 2020!!!!!!!
***** YEAH, WAKE UP MURICA!!
Was it necessary to use such unflattering pictures during this interview? I'm still trying to find an unbiased view of his earlier business dealings, not follow the narrative someone else wants to produce.
If you find one please let me know. Hard to find objective reporting
Its not the press' fault that Trump is obese.
Brian Sager yea, because curating unflattering photos has everything to do with obesity... /s
He’s a moron who was born into a rich family that made a fortune on sleazy transactions and tax evasion. He bankrupted all his businesses but his name is associated with luxury in the mind of the common idiot so the banks kept him for his name. There’s your objective view.
Can I be paid Big Bucks while dodging bankruptcy?
Trump 2016!
Nice honest reporting ! Trump is brilliant !
it only shows Trump's capacity to get out of major crysis. America need this kinda stuff.
Or...it shows his ability to steer his business into crisis. Self inflicted wounds. Terrible judgement.
His ability to create and then weasel out of crisis
Had Trump just put his $400 million inheritance into an S&P index fund in the 1980's he would be worth $15 billion today, instead of the $3.4 billion he is supposedly worth. So the great businessman massively underperformed the S&P over that time period. Trump has cratered every business he ever operated. Only those living under the MAGA cloud of delusion believe that their extremely stable genius has a head for business.
People still voted for him . Now USA !
thank you. T 16
Senate prosecutor Ferdinand Pecora called it a "shocking disclosure of low standards in high places.
Awesome video. Good thing this video was posted. It clearly indicated the mentality we needed to run our country. Go Trump 2016
Him with his supporters are like a cult no matter what he does, even if it’s bad they just keep gobbling up his lies to cover him
3:00 workers didn’t get paid
Lol..
They mad he got away with it😂haters
He just makes blood sacrifices to his dark Lord.
Is that good or bad
Can't believe that guys saying all that with a straight face !!!!!!!!!
It's not the crisis that defines a person, but how one BOUNCES BACK from it! Trump a real dude. I support him
the usa should do that.... the country is bancrupt now... you need excactly that... trump2016
need trump to do what exactly? ? ??
He is smart.....that's why these politicians hate him.he manourvered his way to white house out of no where.against the odds .One bullet one kill.
Better coverage of him than with this than now
Is Donald Trump a smart businessman that knows how to use that laws to his advantage or is he reckless and can't manage companies? I uploaded a video to give you all the details to make an educated decision and I'd love to hear your thoughts.
Plus to that he is genius but dirty kind of genius
Stable Genius to be exact!
Re negotiate the debt, in layman terms ,you are not getting what I oh you. Trump put a lot of Americans out of work and out of business.
I believe trump didnt go to personal bankruptcies. He definitely did go through very tough times though. The reason I can verify this is from the documentary "Born Rich" where ivanka trump discusses it.
The rothschilds family bailed him out! And now trump is their puppet
A great day for Atlanta City. Trump has been demolished.
I’d call that “style” lack of integrity and a con.
The Soviets.
Wouldn't be surprised if he isn't straight out helping himself to cash from the US Treasury.
bakruptcy is a badge of honor when you are in business. We need a guy like Trump to get rid of the 18 TRILLION dollar debt that the carreer politicians have created. Using the laws to beat the banks is commendable. He should get an award for that. Its not a shame at all. Donald Trump for CEO of the UNITED STATES OF AMERICA!!!!
+Bob Eagle I agree, absolutely! No other candidate would know what the hell to do in a crisis situation.
+Bob Eagle I agree, absolutely! No other candidate would know what the hell to do in a crisis situation.
He is a good business man, I know he would be good with the debt of the US but president, I am not sure, I am thinking more Bernie Sanders who has been a politician and has helped people all of his life.
a badge off honor my ass..trump screwed a lot of people out of money..how the hell is that conducting business? ??
He is good at making money, I never said that he wasn't an ass hole, which for the most part he is, his whole campaign is talking down to everyone and putting himself up and making points with little evidence, he is just a business man, that is what he should remain, a selfish business man.
snake
Most recent downturn? Is he talking about 2009 or what?
Trump 👍 2016
Don't trust the media
Cw don't trust yrump
Everyone with half a brain already knows
Speaks to a Poor buisness man
TRUMP IS THE BEST CHOICE ! NOT THE SAME OLD B.S.
hate to tell you all this love him or hate him get used to seeing him in the white house...
Lets be very clear about this, the Taj Majal was a wonderful resort/casino for ENTERTAINMENT. I never visited it but many people who did, raved about it.
The bankruptcy of the Taj Majal was not Trumps fault. CRIME is what caused people to stop going to Atlantic City altogether. It is NOT just one casino that did poorly, ALL the casinos in Atlnatic City have done poorly. Tourists were too afraid to visit because of all the crime. How is that Trumps fault? Was he supposed to hire his own police force to clean up all of Atlantic City?
Trump is an excellent business man because he was diversified enough to where the fall of one of his businesses did not ruin him completely.
Lol. Almost same story but he is going to jail..
If Rump could Cheat & Lie to save himself, he did.
#SoundFamiliar
Soooooooo......in other words he's a con man , his words is not his bonds.
Trump 2024
wow, what a genius. after watching this video I'm no longer voting for Hillary, I'm voting for TRUMP!!!!
TRUMP 16!!!!
That's the only reason? Look at his track record, he is completely unqualified and helps only himself, Bernie Sanders helps people all the time and has been a very successful politician and he didn't receive a "small" loan of 1,000,000, Bernie had poor immigrant parents and has constantly worked to benefit humanity, he is still working to this day to stop racial inequality, why wouldn't you want him as president? He was known as one of the best mayors when he was mayor of Burlington, he had the city at an all time low with drug use and the percent of jobless people. berniesanders.com/about/
Bernie is a socialist
And? What is wrong with Socialism? The fact is, he is a Democratic Socialism, there is a major difference between Communism and Socialism, they are two very different things, the thing is, Communism is meant for good but when corrupt countries use it and have dictatorships, obviously it isn't going to work, that happens with any form of government when it is corrupt. Bernie used Socialism while he was a mayor and was in the Senate and people viewed him as one of the best mayors and Senators. Bernie Sanders understands the people and wants to make us happy, he did so in Burlington, Burlington was happier with Sanders than ever. Isn't that the goal in life, to be happy? Tell me, how would Trump benefit humanity, how will he make us happy if he only has the capacity to talk trash and pathologically lie? He bases his campaign and ideas that has no evidence to back it up other than lies and false stereotypes and assumptions.
COMMUNISM AND SOCIALISM IS BAD
john perez Explain
Rothchilds bail out .
cant stump the trump
Excellent video, not only do we like Donald Trump for president. We like to see the real good things people have done. Live life positive, keep positive people and things around. On a side note, this just made the debate staff look stupid for putting his bankruptcies in a negative vocation for all to see.
What is that on top of that guy's head?
+Easyandy100 Lol, I was talking about what's on top of Peter Grant's head. Looks like a dust mop or some kind of dead furry animal. His hair makes Trump's hair look good.
***** Peter Grant's hair does.
People and media have fought trump but that’s the brain we want ,
Dt's style of polished talk then turning around an stiffing people?,in 1960s or 70s his style would have ended with the welch in a trunk