Answers please

I just read an interview with a woman from Pennsylvania who's voting for Trump because he's a business man and will get the economy in shape.

My question is this... He's been bankrupt 11 times, he even lost money operating a casino.

In what disconnected world does she see him as being successful.

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easterniowegin · 51-55, M

Correction: Trump has filed for Chapter 11 business bankruptcy four times. Trump Taj Mahal 1991, Trump Plaza Hotel 1992, Trump Hotels and Casinos Resort 2004, and Trump Entertainment Resort 2009.

Business reorganization, not personal bankruptcy.

Convivial · 26-30, F

@easterniowegin did those let him escape paying what he owed?

nudistsueaz · 61-69, F

@easterniowegin How many banks filed for the same thing?

Heartlander · 80-89, M

@Convivial it’s not the same as personal bankruptcies. The entities were not people but corporations or some other legal entity. What often happens is that for whatever reason a lender recalls the loan and the business can’t survive without the loan, so the owner gets relief via chapter 11 and stops the bank from pulling their loan. The reason for the bank wanting its money back now may have nothing to do with the business, and everything to do with the bank itself. The role of the receiver appointed by the court is to protect the business for the owner, and once reorganized returns the business to the owners. If it can’t be reorganized it may move to liquidation.