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Saturday, April 23, 2011

And this is the teabaggers' choice for the Republican presidential nomination
Posted by Jill | 9:43 AM
Remember that video I posted the other day, in which one vapid, slack-jawed mouthbreathing teabagger after another said that they liked Trump for president? Here's the business genius they're supporting:
Trump has built an American empire from Las Vegas to New York with towering hotels and sparkling casinos. Forbes estimates he's worth $2.7 billion. But not all of Trump's business ventures have been constant money-makers. In 1991, 1992, 2004, and again in 2009, Trump branded companies or properties have sought Chapter 11 protection.

"I've used the laws of this country to pare debt. ... We'll have the company. We'll throw it into a chapter. We'll negotiate with the banks. We'll make a fantastic deal. You know, it's like on 'The Apprentice.' It's not personal. It's just business," Trump told ABC's George Stephanopoulos last Thursday.

A business declaring bankruptcy is nothing new in corporate America, where bankruptcy is often sugar-coated as "restructuring debt." But it might seem alarming to everyday Americans who can't get a bank to restructure their home loans. If you want to get Donald Trump hot under the collar, accuse him of declaring bankruptcy.

Read the whole sordid story here. It's as much about how the laws are rigged so that people like Donald Trump never have to accept the consequences of their own folly as it is about Trump's own multiple bankruptcies. So here we have a bunch of idiots, many of whom are probably underwater on their own houses if they haven't lost them already, whose own retirement accounts have lost much of their value, supporting a guy who's been able to game the system over and over again for his own advantage.

And they don't even see any irony in this.

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Blogger Barry said...
I will *never* understand the Trump boomlet, never.

Blogger Bartender Cabbie said...
Bankruptcy is a business tactic when playing in the big leagues. At least the man understands how the real world works. I wouldn't worry though. I find it doubtful that The Donald is really serious about a run.

Blogger Southern Beale said...
No, is feature not bug.

Because when a conservative acquaintance told me he found a Trump candidacy interesting and I mentioned the bankruptcy stuff he said the exact same thing: "It wasn't really a bankruptcy, it was more of a reorganization."

I mean they have to be getting these talking points somewhere. Maybe it was Fox News or something.

Blogger Ema Nymton said...

It never fails to amaze one that 'a bunch of idiots, ... supporting a guy who's been able to game the system over and over again for his own advantage.' These idiots know they are being lied to, chested, and stolen from through a rigged game. They know it!

Yet, the 'idiots' are totally willing to say things like, "Bankruptcy is a business tactic when playing in the big leagues. At least the man understands how the real world works."?!? And to top it all off, then they b!tch, snivel, and blame the leftists for everything being fouled up.

Ema Nymton

Blogger mileslarboy said...
The link doesn't work which I think is really ridiculous (on the part of ABC) because you just put it there for godssakes.

Blogger Nan said...
Trump is great at putting up a front andjuggling debts (which might actually make him qualified for politics, in a perverse way), but it's all front and no substance.

Odd, how when a billionaire declares bankruptcy because his speculations didn't pan out the way he thought they would it's a "reorganization," but when an average person declares bankruptcy due to crushing medical bills, it's a sign you don't know how to handle money.