Originally Posted by stu64:
“Racist, sexist, homophobic. Just a few things to start! Also nearly all of the Republican party also hate him. The man is vile, a bully and also not even that good at being a businessman. He has gone bankrupt 4 times.”
I'm not a trump supporter but he didn't actually go bankrupt 4 times, not in the sense that we associate bankruptcy. 4 of his companies applied for chapter 11 reorganisations.
Quote:
“Trump’s four bankruptcies were Chapter 11 reorganizations (named for its location in federal bankruptcy code), which are designed to restructure businesses without shutting them down completely. The purpose is to "save" the business, as opposed to other forms of bankruptcy which would liquidate the company, said Michael Venditto, a partner at the ReedSmith law firm who has extensive experience with Chapter 11.”