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我們正在觀看川普第七次破產:政治破產
送交者: 純陽真仙 2020年10月13日14:04:17 於 [五 味 齋] 發送悄悄話

We’re watching Trump’s 7th bankruptcy unfold

Rick Newman
·Senior Columnist
·7 mins read

As a businessman, Donald Trump ran 6 businesses that declared bankruptcy because they couldn’t pay their bills. As the president running for a second term, Trump is repeating some of the mistakes he made as a businessman and risking the downfall of yet another venture: his own political operation.

In the 1980s, Trump was a swashbuckling real-estate investor who bet big on the rise of Atlantic City after New Jersey legalized gambling there. He acquired three casinos that by 1991 couldn’t pay their debts. The Taj Mahal declared bankruptcy in 1991, the Trump Plaza and the Trump Castle in 1992. Lenders restructured the debt rather than liquidate and Trump put his casino holdings into a new company that went bankrupt in 2004. The company that emerged from that restructuring declared bankruptcy in 2009. Trump’s 6th bankruptcy was the Plaza Hotel, which he bought in 1988. It went bankrupt by 1992.

Trump’s surprise victory in 2016 paralleled the arrival of the brash upstart in Atlantic City more than 30 years earlier. But in the fourth year of his presidency, the Trump operation is once again reeling. Voters give him poor marks for handling the coronavirus crisis, underscored by an outbreak at the White House that infected Trump himself. Democrat Joe Biden is beating Trump is most swing states and an Election Day blowout is possible. Trump has suggested he won’t leave office if he loses, threatening a constitutional crisis and his own political legacy.

The lessons of Trump’s bankruptcies explain much of the Trump campaign’s current tumult. Here are 5 similarities:


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