Donald Tump deja vu - bankrupt again
Donalds Selling Steaks in 2007
In yet another sign that the economy is need of a respirator stat - Donald Trump’s business interests have gone bust again, with 9 companies associated with Trump Entertainment filing for bankruptcy protection. The big names include - Trump Taj Mahal Associates, Trump Marina Associates, and Trump Plaza Associates. Trump has been arguing (apparently unsuccessfully) with one of his major creditors Deutsche Bank, whether the current recession qualifies as an act of God which frees him at least temporarily from payment obligations.
Last time Trump’s development businesses went bankrupt was in 1992 on the heels of the 1987 market crash and real estate recession, then restructuring for a few years and falling into insolvency again with the next Chapter 11 bankruptcy filing in 2004.
No need to shed tears for the Donald, unlike a lot of employees he can retire to his mansion, TV show or even go back to selling “super premium Trump Steaks” at Sharper Image or affordable luxury office chairs “that use stain resistant, heavy duty rated fabrics and leathers and have an 11-step scuff resistant wood finish” at Staples as he did in 2007.