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2016 Postmortem
Related: About this forumTrump's campaign is running on a $45M deficit
Can a campaign file for Chapter 11?
Will Trumps Campaign Drown in Debt?
For a rich man, Donald Trump is suspiciously familiar with bankruptcy court. Oh, but never for himself, hell rush to explain. Those were companies he put into a chapterpresumably Chapter 11and the times he used the laws of the country to cut deals with creditors and avoid financial ruin. Trump has sought bankruptcy protection for some of his biggest investments, including the Trump Taj Mahal, Trump Castle, and the Plaza Hotel.
Trump is heading in a similar direction with his campaign. As of May 31, it had only $1.3 million in cash, and a whopping $45.7 million in debt. Campaigns cant really go bankrupt, as theyre pretty light on assets. But as the adage goes, campaigns dont endthey run out of money. Trump has staved off that eventuality for now by shouldering a heavy load of loans.
....
Trump owed far more to creditors in April than any other federal campaign committee, according to FEC records. While aggregate statistics arent yet available for May, hes probably still at least toward the top of the list. No other major presidential campaign in the last eight years has saved so little or gone so deeply into debt. Hillary Clinton has more than $30 million in the bank and carries only $600,000 in loans; Bernie Sanders, he of the $27 donation, is debt-free and holds about $5 million in reserves.
Even Ted Cruz has more money than Trump: $6.8 million, almost three times the billionaires campaign savings. Trumps debt is unprecedented in recent history, blowing away even John McCain, whose money problems in early 2008 threatened his bid.
....
The Atlantic
For a rich man, Donald Trump is suspiciously familiar with bankruptcy court. Oh, but never for himself, hell rush to explain. Those were companies he put into a chapterpresumably Chapter 11and the times he used the laws of the country to cut deals with creditors and avoid financial ruin. Trump has sought bankruptcy protection for some of his biggest investments, including the Trump Taj Mahal, Trump Castle, and the Plaza Hotel.
Trump is heading in a similar direction with his campaign. As of May 31, it had only $1.3 million in cash, and a whopping $45.7 million in debt. Campaigns cant really go bankrupt, as theyre pretty light on assets. But as the adage goes, campaigns dont endthey run out of money. Trump has staved off that eventuality for now by shouldering a heavy load of loans.
....
Trump owed far more to creditors in April than any other federal campaign committee, according to FEC records. While aggregate statistics arent yet available for May, hes probably still at least toward the top of the list. No other major presidential campaign in the last eight years has saved so little or gone so deeply into debt. Hillary Clinton has more than $30 million in the bank and carries only $600,000 in loans; Bernie Sanders, he of the $27 donation, is debt-free and holds about $5 million in reserves.
Even Ted Cruz has more money than Trump: $6.8 million, almost three times the billionaires campaign savings. Trumps debt is unprecedented in recent history, blowing away even John McCain, whose money problems in early 2008 threatened his bid.
....
The Atlantic
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Trump's campaign is running on a $45M deficit (Original Post)
Capt. Obvious
Jun 2016
OP
randr
(12,409 posts)1. It won't be long before he applies to the Federal Elections Commission
for his rebate on campaign expenses. The scam will have run its course by then.
Ilsa
(61,690 posts)2. I'm looking forward to campaign creditors, esp. mom & pop companies,
Coming out to blast trump for not paying for services provided to his campaign. They'll be the face of trump's economic plan: screw the little guy.
mucifer
(23,470 posts)3. I wonder how many people are gonna send in money and get duped.
He is doing a grovel email. He might get more money than Bernie did this way. Lots of stupid people out there.