What Trump Didn’t Say About His Four Bankruptcies
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Donald Trump didn’t tell the whole truth at the debate about the four times his companies went bankrupt.
…Trump was exaggerating, experts said, when he said that virtually every business leader has filed bankruptcy. An estimated 5 percent of the 500 biggest U.S. companies have filed for bankruptcy in the past two decades, Georgetown law professor Adam Levitin said…
Some of the debt Trump’s businesses took on was through bonds sold to the public, meaning bondholders who trusted and invested in the Trump name were left holding the bag. But the self-styled master businessman did not deal directly with small investors and said during the debate that the banks, hedge funds and financiers who have backed his projects “are not the nice, sweet little people that you think.”
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