Trump Drowned Atlantic City Casinos In Debt

Posted by | December 27, 2015 19:11 | Filed under: News Behaving Badly Politics

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Far from the brilliant businessman he portrays himself, The Donald has a history of debt and bankruptcies along with bitter memories of those he did business with in Atlantic City.

The real story of Trump’s rise and fall in Atlantic City is…complicated. His casinos were profitable early. As he expanded, though, Trump’s aggressive borrowing and go-go strategy left them laboring under high-interest debt. When he decided to leave, in 2009, the exit was far from smooth and graceful; he gave up after last-ditch battles with bondholders.

Today, some still love him here, even people who lost money. Others have bitter memories.

“He trampled everyone: the shareholders, the bondholders, the employees, the contractors,” said Sebastian Pignatello, who lives in Flushing, N.Y., near where Trump grew up. An investor who headed a stockholders’ committee that tried to recover losses in one Trump bankruptcy, Pignatello says many small businesses had to settle for “pennies on the dollar.”

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Copyright 2015 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.

13 responses to Trump Drowned Atlantic City Casinos In Debt

  1. Suzanne McFly December 27th, 2015 at 19:57

    I would like to know who loves him?

    • Larry Schmitt December 27th, 2015 at 23:39

      You mean besides him?

  2. amersham46 December 27th, 2015 at 20:21

    He made millions , and for him , who else matters

    • Ronald Woolever December 30th, 2015 at 15:45

      Yeah but the funny thing is if Donny had just stuck that million daddy gave him in a conservative money market account he would have today the * billion that he claims he has instead of the 2 billion he actually has. Not knocking 2 billion mind you, just pointing out he is not the business man he pretends to be.

  3. DogsRgoodpeople December 27th, 2015 at 22:23

    small businesses had to settle for “pennies on the dollar.”

    But the Donald considers bankruptcy a tool …………………..a reusable tool.

    • Larry Schmitt December 27th, 2015 at 23:39

      Just like he is.

  4. FatRat December 27th, 2015 at 22:24

    https://www.youtube.com/watch?v=ZPtjyqgZAUk

  5. jybarz December 27th, 2015 at 22:28

    A true serial bankrupt who leaves investors broke. How’s that ‘making the country great again’ going? Sounds like a promise to make the country go bankrupt like him again.

    • allison1050 December 28th, 2015 at 05:15

      He’s got a history of this with his golf courses and I could never understand why people continue to “invest” since he is a serial bankrupter as you said. He’s always been a snake oil conman who mainly just sales his name.

  6. mrbigstuff December 28th, 2015 at 06:34

    That’s exactly his plan if he becomes President to bankrupt America to make it great again and his rubes will cheer him on

  7. granpa.usthai December 28th, 2015 at 09:38

    make a good campaign ad – even for republiKon Kandidates.

  8. chungasrevenge December 28th, 2015 at 15:50

    some get the money, some get the schlong.

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