Quote:
Originally Posted by Guest
I was with you until you got to the very good negotiator part - so good he had to declare bankruptcy 4 times.
Quite frankly, there is no way for any Con to beat Hillary.
There just aren't enough old white, racist, uneducated, klansmen left. David Duke and his boys in da hood can only do so much for you.
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Bankruptcy is little understood in the general public and it comes in many different formats .
Trump did not file for personal bankruptcy . Each of his real estate investments is structured as a separate company as is the practice in the
" Commercial Real Estate " business .
He used a Chapter of the Bankruptcy Code called a " Chapter 11 " which allows for a reorganization of the companies obligations ---- not a " forgiveness " of debt but in effect a " time out " let`s restructure the debts ie the payment schedule or interest rates .
It is a standard operating practice which occurs every day across America . He has formed hundreds of companies and as you pointed out he had to use a provision of the " Commercial Code " to restructure the obligations of 4 of his investments .
What you are missing is that no single person or institution failed to get their loans repaid . Also the Bankruptcy Code is not exactly something you can explain in a so called " debate " where you have all of 60 seconds before someone pushes a button in effect " gonging " you .
Finally the right of filing for various chapters of Bankruptcy was deemed so important to the promotion of Commerce that I founding Fathers wrote it into the US Constitution . You can as the saying goes " look it up " .