How DT unloaded $1.7 billion of his personal debt onto shareholders of his publicly traded company,

[pnwmom]

Trump Casinos and Resorts, and counted it as a personal win when the corporation went bankrupt -- not him.

This is what he is aiming to do to the US, too -- pillage our assets for himself and his cronies, while driving us deeper into debt.

https://www.washingtonpost.com/business/economy/as-its-stock-collapsed-trumps-firm-gave-him-huge-bonuses-and-paid-for-his-jet/2016/06/12/58458918-2766-11e6-b989-4e5479715b54_story.html?utm_term=.4b7b72d30ea1

When it debuted that year on the New York Stock Exchange, Trump’s company raised $140 million from investors, at $14 a share, and said the money would go toward expanding the Plaza and developing a riverboat casino in Indiana.

But much of that money went to pay off tens of millions of dollars in loans Trump had personally guaranteed, filings show. Those loans were taken out before the company went public, but Trump’s private fortune could have been at risk if they went unpaid.

SNIP

The early success didn’t last long. In less than a year, the company paid premium prices for two of Trump’s deeply indebted, privately held casinos, the Trump Taj Mahal and the Trump Castle. In essence, he was both buyer and seller, able to set whatever price he wanted. The company bought his Castle for $100 million more than analysts said it was worth. Trump pocketed $880,000 in cash after arranging the deal, financial filings show.

By the end of 1996, shareholders who had bet on a rosy Trump future were now investors in a company with $1.7 billion of Trump’s old debt. The company was forced to spend hundreds of millions of dollars a year on interest payments, more than the casinos brought in, securities filings show. The unprofitable company couldn’t afford the upgrades it needed to compete with newer gambling rivals.

Spooked investors fled the company in 1996, sending its share price down to $12. As millions of dollars in shareholder value evaporated, the company gave Trump a $7 million pay package, including a 71 percent raise to his salary, financial filings show. Trump defended his compensation by telling the Wall Street Journal, “Other than the stock price, we’re doing great.”

SNIP

[Gothmog]

1. Trump raped that company and took advantage of its shareholders

[More_Cowbell]

2. And yet gullible voters think he's running businesses successfully

Instead of just laundering money through them.

[Doodley]

3. He is the worst businessman that America has ever seen. His business

career has been a vanity project that is worth less than his rich daddy's real estate holdings would be worth, and would be worth nothing were it not for these kind of corporate bailouts that kept him afloat. Other people have lost to prop up Trump, who never put his hand in his own pocket to personally pay for his own failings.

[Useless in FL]

4. OMIGOD

Why isn't this info being disseminated all over the networks????

We are in extreme danger. Somehow these trillionaires and billionaires need to be reigned in. We are being robbed when we worry about escalating credit card debt, insurance health care debt, robbing of savings and everything else. We need, somehow to UNITE and fight the theft of our hard earned wealth!

STOP THEM NOW!!!!!