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Tue May 24, 2016, 04:03 PM

Hillary on Trump: "How can anybody lose money running a casino?"

http://www.politico.com/story/2016/05/donald-trump-hillary-clinton-casinos-bankrupt-223486

[font size="3"]
"What little we know of his economic policies would be running up our debt, starting trade wars, letting Wall Street run wild, all of that could cause another crash and devastate working families and our country," [/font]the Democratic candidate told an audience at the Service Employees International Union's annual convention in Detroit. [font size="3"]"Trump economics is a recipe for lower wages, fewer jobs, more debt. He could bankrupt America like he's bankrupted his companies. I mean, ask yourself, how can anybody lose money running a casino? Really. "[/font]

Clinton remarked that she hears from families "every day" about what a Trump presidency would mean for immigrants living and working in the United States, particularly those in mixed-status families where children were born in the country but parents are perhaps undocumented. "We're talking about real people," Clinton said.

[font size="3"]Hes talking about sending a deportation force to schools, workplaces and homes to round up moms, dads, grandparents, even children. When he talks about ending birthright citizenship, hes talking about kicking children who are born here out of the only country they know," [/font]she said, referring to Trump's remarks in an interview with MSNBC's "Morning Joe" last November.
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Arrow 19 replies Author Time Post
Reply Hillary on Trump: "How can anybody lose money running a casino?" (Original post)
Bill USA May 2016 OP
Downwinder May 2016 #1
puffy socks May 2016 #2
Downwinder May 2016 #8
puffy socks May 2016 #11
Downwinder May 2016 #14
Recursion May 2016 #19
Warren DeMontague May 2016 #3
Bill USA May 2016 #9
ffr May 2016 #4
Bill USA May 2016 #15
ffr May 2016 #18
Autumn May 2016 #5
JaneyVee May 2016 #6
closeupready May 2016 #7
vintx May 2016 #10
scscholar May 2016 #16
yawnmaster May 2016 #12
truedelphi May 2016 #13
Jim Lane May 2016 #17

Response to Bill USA (Original post)

Tue May 24, 2016, 04:07 PM

1. What is Wall Street?

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Response to Downwinder (Reply #1)

Tue May 24, 2016, 04:12 PM

2. A casino with hugely better odds for players than a Las Vegas style casino? nt

 

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Response to puffy socks (Reply #2)

Tue May 24, 2016, 04:18 PM

8. And no tax.

Lehman Brothers is gone, it is not a sure thing.

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Response to Downwinder (Reply #8)

Tue May 24, 2016, 04:25 PM

11. Yep, never a sure thing

 

but beats slots Keno Craps!

Lehman temporarily shuffled $50 billion of troubled assets off its books in the months before its collapse in September 2008 to conceal its dependence on leverage.
Lehman bros borrowed $18bn to cover their robbing Peter to pay Paul schemes.

Greed is not good.

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Response to puffy socks (Reply #11)

Tue May 24, 2016, 04:32 PM

14. Bank robbers never get as much cash as the banks lose

in the robbery.

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Response to Downwinder (Reply #1)

Wed May 25, 2016, 02:33 AM

19. A largely vacuous term people have used as a stand-in

for every aspect of the economy they don't like.

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Response to Bill USA (Original post)

Tue May 24, 2016, 04:13 PM

3. That's a good line.

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Response to Warren DeMontague (Reply #3)

Tue May 24, 2016, 04:20 PM

9. yeah! I'm hoping it keeps getting repeated throughout the campaign!

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Response to Bill USA (Original post)

Tue May 24, 2016, 04:14 PM

4. Time to make hay of anyone who supports Drumpf

How could anyone with an I.Q. above 10 support this guy? Fools. And dangerous fools at that!

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Response to ffr (Reply #4)

Tue May 24, 2016, 04:33 PM

15. the childishly vindictive could.(check out Ch Vind idiot comments on this thread)

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Response to Bill USA (Reply #15)

Wed May 25, 2016, 01:21 AM

18. It's a language that Dems don't understand

while talks to the soul of Reps. We ignore it. They are shamed by it.

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Response to Bill USA (Original post)

Tue May 24, 2016, 04:15 PM

5. Wall Street.

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Response to Bill USA (Original post)

Tue May 24, 2016, 04:17 PM

6. True. People literally hand them money for nothing in return.

 

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Response to Bill USA (Original post)

Tue May 24, 2016, 04:18 PM

7. Your players 'break the bank'.

 

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Response to Bill USA (Original post)

Tue May 24, 2016, 04:21 PM

10. Nice one!

 

Hope to hear that one often... great way to succinctly remind voters that he is NOT a 'successful businessman' he is a con man

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Response to vintx (Reply #10)

Tue May 24, 2016, 04:54 PM

16. This. Not successful!

 

Four different businesses had to declare bankruptcy.

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Response to Bill USA (Original post)

Tue May 24, 2016, 04:27 PM

12. Low cost rib-eye buffets? eom

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Response to Bill USA (Original post)

Tue May 24, 2016, 04:29 PM

13. Drumpf and Republicans are waking up.

Far better to run a Charity Foundation, or else get themselves a high up position at State.

No need to worry about the mob, and a person can end up with an amount just shy of one billion to play with.

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Response to Bill USA (Original post)

Tue May 24, 2016, 05:23 PM

17. It's not that clear-cut.

 

I think all or almost all of Trump's casinos have operated at a consistent profit if you examine only EBITDA (earnings before interest, taxes, depreciation, and amortization). They've shown a loss because Trump financed the acquisitions with high-interest junk bonds instead of putting his own money at risk. The interest payments tended to overwhelm the casinos' operating profits. In the ensuing bankruptcies, the biggest losers were generally the pigeons who'd been beguiled by the Trump name into buying the bonds.

Yes, Trump himself has had to accept some reductions in his percentage ownership of the companies, but he was also able to take money out of the companies before the bankruptcies. In some cases, he's received money or stock in exchange for allowing the continued use of his name even after he no longer had any other connection with the casino.

Trump personally has never declared bankruptcy. Is he, overall, a net gainer or a net loser from his casino involvements? I'll guess net gainer but it's just a guess. You'd probably need individual and corporate tax returns plus SEC filings plus casino regulatory authority filings plus a team of accountants and lawyers to say for sure.

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