Is Donald Trump electable? Should he run?
On February 14 CNN interview Donald Trump, estate mogul, looking to elevate his his political profile said that "Rep. Ron Paul is an "unelectable" candidate for president.
Though Donald Trump is worth billions. He did not receive his fortune with out the risk and lost of other peoples money to get it.
Along the way of investing he was not all that perfect in getting things done with some of his techniques. Unlike Obama of not putting the country in bankrucy, Mr trump has filed three bankruptcy with respect to his casino operations of bad decisions.
1. According to Wikipedia, By 1989 Trump financed the construction of his third casino, the $1 billion Taj Mahal, primarily with high-interest junk bonds. Although he shored up his businesses with additional loans and postponed interest payments, by 1991 increasing debt brought Trump to business bankruptcy and the brink of personal bankruptcy. Banks and bond holders had lost hundreds of millions of dollars.
2. On November 2, 1992, the Trump Plaza Hotel was forced to file a prepackaged Chapter 11 Bankruptcy protection plan after being unable to make its debt payments. Under the plan, Trump agreed to give up a 49 % stake in the luxury hotel to Citibank and five other lenders. In return Trump would receive more favorable terms on the remaining $550+ million owed to the lenders and retain his position as chief executive, though he would not be paid and would not have a role in day-to-day operations.
By 1994, Trump had eliminated a large portion of his $900 million personal debt and reduced significantly his nearly $3.5 billion in business debt
Donald Trump has been known not to want to pay off his debts. Trump has been caught in the 2008 financial crisis as sales for his Trump International Hotel and Tower in Chicago have been lagging and he failed to pay a $40m loan to Deutsche Bank in December. Arguing that the crisis is an Act of God, he evoked a clause in the contract to not pay the loan and initiated a countersuit asserting his image has been damaged. Deutsche Bank has in turn noted in court that 'Trump is no stranger to overdue debt' and that he has twice previously filed for bankruptcy with respect to his casino operations.
3. On February 17, 2009 Trump Entertainment Resorts filed for Chapter 11 Bankruptcy, Mr Trump having stated on February 13 that he would resign from the board. Trump Entertainment Resorts has three properties in Atlantic City.
Donald Trump has filed for bankruptcy no later than 2009. Yet he's telling us he's the man to cut our debts. Though he may have accomplished a lot in his life, it is the big mistakes he has made that ended up in bankruptcy.
Your desire to lead such a big country is too scary. We can't afford bankruptcy not one time.
Besides, If he had so much experience in fixing this country why didn't he do it during George Bushes Administration? And the other question is, what didn't he help save our country in 2009 to 2010.
Mr.Trump said Ron Paul is unelectable. I think you are to!