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marylandblue

(12,344 posts)

12. I think he never declared personal bankruptcy.

Reply to unblock (Reply #5)

Wed May 15, 2019, 04:59 PM

May 2019

He was taking money of his businesses for salary and personal expenses while he was driving his businesses into the ground. His banks out a limit on how much he could take out so the businesses could remain solvent.

The news reported it as if they were personal bankruptcies, but whatever they were, it was clearly a sham because he always had plenty of money after each bankruptcy. I assumed he hid it all in a Swiss bank account, but apparently he was just hiding it a complex financial web.

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24 replies

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Highlight:

"How Did Trump Live So Large While Reporting Such Huge Losses?" [View all] Honeycombe8 May 2019 OP

Not to argue with the article but, he didn't have his business apart from himself? underpants May 2019 #1

You'll have to take that up with the four tax experts and real estate tax specialists in the art. Honeycombe8 May 2019 #2

Mostly they are limited liability corporations. marylandblue May 2019 #13

Yes, there are those. And corporate ventures. And everything else that exists... Honeycombe8 May 2019 #16

not sure i understand the question. unblock May 2019 #5

Ok you're right. I skipped a step. underpants May 2019 #6

I think he never declared personal bankruptcy. marylandblue May 2019 #12

Catch Me If You Can Cary May 2019 #3

He has been running one of the most Wellstone ruled May 2019 #4

Remember John Gotti the Teflon don? slater71 May 2019 #7

Money laundering Russian loans I guess. ananda May 2019 #8

+ struggle4progress May 2019 #20

I asked myself that question back in the 1990s. Tommy_Carcetti May 2019 #9

Trump claims that Herbert Ross arranged 450,000 a MONTH income for him dixiegrrrrl May 2019 #10

Source? Totally Tunsie May 2019 #15

same guy.... dixiegrrrrl May 2019 #18

Thanks! Those are interesting reads. Totally Tunsie May 2019 #19

I've gotten a lot of information thru searches dixiegrrrrl May 2019 #21

People love a con. sarabelle May 2019 #11

Living off the cash in the business treestar May 2019 #14

Only if he could fix it so the cash is under the table. Honeycombe8 May 2019 #17

There is no other answer than he is owned and worth nothing, someone else's money. sunonmars May 2019 #22

Living off his father's inheritance DeminPennswoods May 2019 #23

Because he's a standard American deadbeat misanthrope May 2019 #24