Trump bankers question his portrayal of comeback

[struggle4progress]

Sun Jul 17, 2016 4:22pm EDT
NEW YORK | BY EMILY FLITTER

... In 1990, he nearly went bankrupt and was forced to ask dozens of banks to whom he owed money to change the terms on their loans and forgive some of his debts.

... In his telling, it's a story of redemption, of resilience, and proof of his exceptional negotiating skills and shrewd thinking.

Trump says his comeback began when he recognized a downturn in the real estate market and quickly asked banks to renegotiate his loans ...

The six bankers and lawyers involved in the talks say the bailout wasn't based on any overture Trump initiated with the banks - and the terms of the deal were dictated by what was best for the banks, not Trump ...

http://www.reuters.com/article/us-usa-election-trump-bankruptcies-insig-idUSKCN0ZX0GP

[TreasonousBastard]

1. I remember that, and...

I had heard that the banks had hired a retired CFO from GE to run his checkbook. He came back because they wouldn't let him spend any money without their approval.

If he went properly bankrupt, they would have lost far more than they did, but they were fools in the first place to let the idiot borrow all that money.