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Another Trump Co Bankruptcy Filing Imminent

Tyler Durden's picture




 

The man who spends 120% of his time between fixing his hair, discussing his presidential chances on CNBC and filing for bankruptcy has done it again.

  • TRUMP'S PANAMA OCEAN CLUB MISSES BOND INTEREST PAYMENT

It sure puts our commentary on the Donald's morning CNBC appearance into perspective.

 

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Wed, 11/16/2011 - 11:01 | 1882556 Comay Mierda
Comay Mierda's picture

whoever invests with this asshole deserves what they get

Wed, 11/16/2011 - 11:12 | 1882598 CPL
CPL's picture

I've often wondered how he's still operating considering his speckled past of poor post management on any of his deals.

 

Can anyone name a project of his that's lasted longer than a year...two years...that hasn't gone broke.  I know he was the "art of the deal" asshole in the 80's with NYC real estate.  What has he honestly done that has created any net benefit for anyone, including himself, in the last 25 years?

 

 

Wed, 11/16/2011 - 11:19 | 1882627 Potemkin Villag...
Potemkin Village Idiot's picture

What has he honestly done that has created any net benefit for anyone, including himself, in the last 25 years?

---

Perhaps he's singlehandedly responsible for men opting for baldness as a fashion style...

Wed, 11/16/2011 - 15:03 | 1883642 Hephasteus
Hephasteus's picture

+1 for my old friend Ralph. Who no matter what is not as ugly as donald stump.

Wed, 11/16/2011 - 11:37 | 1882659 Astute Investor
Astute Investor's picture

Trump keeps operating because he changed his MO after hitting the wall in the early '90s.  He now has neglible if any of his own equity in the majority of his ventures (e.g.  Trump International Hotel & Tower in Chicago), preferring to earn management and licensing fees while using OPM to fund development.  With no skin in the game, Trump is happy to roll the dice and lever his investments to absurd levels.  Trump has borrowed gizillions over the years from the public HY market and stiffed investors on numerous occasions.  You would have thought investors would have learned that once bitten, twice shy.

Wed, 11/16/2011 - 12:55 | 1883104 sgt_doom
sgt_doom's picture

But, CPL, you could be describing so many corporate "heroes" today, as well as all those flibbertigibbets who dare call themselves economists (at MIT, Harvard, Princeton and Yale) who have never gotten anything in their lives right or correct!

Feldstein at Harvard?  What a shill.

Ferguson at Harvard, another two-pence shill?

Two clowns from MIT who recently wrote one of those pre-financed Wall Street propagada drivel books, claiming the offshoring of jobs has had no effect on the job market, it's automation that's too blame?

(Evidently, arithmetic isn't their strong suit at MIT, especially judging by those previous clowns like Samuelson and Thurow.)

Peddling junk paper, offshoring jobs, importing foreign scab labor (shades of the historic animus to the Alien Contract Labor Act of long ago), doing leveraged buyout "pump-and-dumps" --- when was the last time you met or heard of an American CEO who knew anything whatsoever about business, production, innovation?  (And yes, Steve Jobs may have been a standout, but look at the lack of any real competition?)

Wed, 11/16/2011 - 11:22 | 1882645 Au_Ag_CuPbCu
Au_Ag_CuPbCu's picture

And if the "investor" just happens to be a TBTF bank, they deserve a bailout.  Fuck you Ben!

Wed, 11/16/2011 - 11:31 | 1882680 Freebird
Freebird's picture

Oceanclub $7K a square meter, boom times in little old Panama..what possibly could go wrong with local banks loaning now a maximum of 1200 a meter.....

Wed, 11/16/2011 - 13:07 | 1883151 Carlyle Groupie
Carlyle Groupie's picture

It was doomed from day one. Anyone in Panama City could have told you that, but The Donald prolly skimmed about $20 million off the top.

No wonder he joyfully accepted that little cunt Jared Kushner into his family.

http://en.wikipedia.org/wiki/Jared_Kushner

Jew it up Donny!

Wed, 11/16/2011 - 15:24 | 1883745 JungleJim
JungleJim's picture

I agree with you completely, except I think we should show a lot more respect if not reverence for "cunts".

   Just one mans opinion ....

Wed, 11/16/2011 - 11:36 | 1882693 YesWeKahn
YesWeKahn's picture

you forgot "sleep with call girls"

Wed, 11/16/2011 - 11:40 | 1882718 Freewheelin Franklin
Freewheelin Franklin's picture

...and any one who contracts with this asshole. I personally know several contractors in South Jersey who lost their businesses because of Trump.

 

Let him try to declare bankruptcy in Dubai, and see what the Arabs do to his ass.

Wed, 11/16/2011 - 11:54 | 1882783 covert
covert's picture

this has always been part of his strategy, but, most people didn't notice it. newyorkers understand it much better.

http://expose2.wordpress.com

 

Wed, 11/16/2011 - 12:11 | 1882863 SteveNYC
SteveNYC's picture

Truth. Possibly the biggest con-man/empty suit/promoter/bullshit artist of all time.

Wed, 11/16/2011 - 14:32 | 1883475 Bollixed
Bollixed's picture

Which makes him the PERFECT Presidential candidate. He's almost over-qualified.

Wed, 11/16/2011 - 15:18 | 1883714 JungleJim
JungleJim's picture

Make that F****king asshole .....

Wed, 11/16/2011 - 11:01 | 1882557 GeneMarchbanks
GeneMarchbanks's picture

You meant "hair"

Wed, 11/16/2011 - 11:22 | 1882612 kaiserhoff
kaiserhoff's picture

Hey, a little respect...  He paid good money for that muskrat.

Next, you'll be complaining about his girlfriend's store bought titties.

Wed, 11/16/2011 - 11:49 | 1882757 SilverIsKing
SilverIsKing's picture

No complaints here.

Wed, 11/16/2011 - 11:01 | 1882560 Ancona
Ancona's picture

Anyone who invests with this douche deserves to lose their money. How many bankruptcies idoes this make?

Wed, 11/16/2011 - 11:12 | 1882601 CPL
CPL's picture

Countless by my memory.

Wed, 11/16/2011 - 15:06 | 1883655 Hephasteus
Hephasteus's picture

He's sold more junk bonds on himself than enron.

Wed, 11/16/2011 - 11:01 | 1882561 HD
HD's picture

What is this number five?

Wed, 11/16/2011 - 11:25 | 1882657 disabledvet
disabledvet's picture

Same number that my sister had husbands. She keeps "getting the House" as well. Perhaps she and the Donald are connected somehow?

Wed, 11/16/2011 - 11:02 | 1882562 holdbuysell
holdbuysell's picture

You just can't make this stuff up. And yes, CNBC, get that guy back on.

He's got some 'splainin' to do.

Someone cut this guy off.

Wed, 11/16/2011 - 11:02 | 1882563 The Axe
The Axe's picture

I agree with that scary clown dude....

Wed, 11/16/2011 - 11:03 | 1882565 GMadScientist
GMadScientist's picture

Gimme a 'T'

Gimme an 'R'

Gimme a 'U'

Gimme an 'M'

Gimme a 'P'

What's that spell?

BROKE!

Perhaps he was better qualified for modern government than I had originally anticipated.

Wed, 11/16/2011 - 11:03 | 1882566 lizzy36
lizzy36's picture

Trump missing a coupon payment. Quelle surprise.

Wed, 11/16/2011 - 11:13 | 1882607 Potemkin Villag...
Potemkin Village Idiot's picture

He's FIRED!

Wed, 11/16/2011 - 11:27 | 1882662 disabledvet
disabledvet's picture

But did he get a Groupon payment? He did recommend a bank stock a few weeks back...

Wed, 11/16/2011 - 13:48 | 1883312 slewie the pi-rat
slewie the pi-rat's picture

say, could you pass the grey poupon, please?

trump just loves to give bald guys haircuts, too!

Wed, 11/16/2011 - 11:03 | 1882568 Stuck on Zero
Stuck on Zero's picture

But, but ...  he's a celebrity!

Wed, 11/16/2011 - 11:05 | 1882575 Gringo Viejo
Gringo Viejo's picture

Ya gotta love this guy. A scammer's scammer.

Wed, 11/16/2011 - 11:13 | 1882604 WonderDawg
WonderDawg's picture

Yep, the con man that other con men strive to be.

Chased a gringo last night through a field...

http://www.youtube.com/watch?v=bzQApZWlxgw

 

Wed, 11/16/2011 - 11:05 | 1882576 DaveyJones
DaveyJones's picture

did u post this just to make us feel better?

Wed, 11/16/2011 - 11:06 | 1882577 Tsar Pointless
Tsar Pointless's picture

Donald Trump is the poster child for why there should be higher inheritance taxes in the USofA.

Wed, 11/16/2011 - 12:31 | 1882958 NotApplicable
NotApplicable's picture

He lost all of that money years ago!

Gotta give him credit for his ability to work all of his ties with unions, governments, mafia, contractors, etc...

He's like the PT Barnum of the high-end real estate world.

Wed, 11/16/2011 - 11:07 | 1882585 TeamDepends
TeamDepends's picture

Does this mean he can't be President?  Dang.

Wed, 11/16/2011 - 11:08 | 1882587 Fish Gone Bad
Fish Gone Bad's picture

Perhaps it is better to look good, than to feel good.

Wed, 11/16/2011 - 11:12 | 1882592 vast-dom
vast-dom's picture

Good. Trump has the taste of a bedouin whore and the wig of a homeless person. He has pissed all over the city with gold and obsidian kklahhsiness.

Wed, 11/16/2011 - 11:11 | 1882594 drivenZ
drivenZ's picture

My comment on Zh from three months ago...

The Donald knows how to game the system...the real estate, bankruptcy, B list celebrity system that he operates in. Wearing that roadkill on his head can't shield him from a good old fashioned market drubbing.  Sorry Donald stick to your go-to(runnning businesses into the ground and reality TV, Hey Jim Cramer and Glenn Beck are doing just fine!) 

 

good to see he's getting back to his bread and butter. 

Wed, 11/16/2011 - 11:11 | 1882596 jcaz
jcaz's picture

Oh no, it's just a "tactical business decision, he meant to miss that payment";

He's never filed for bankruptcy- just ask him.

Dad must be so proud-  Trump turned his silver spoon to tin, brags about it.....

Wed, 11/16/2011 - 11:12 | 1882599 Jalarupa
Jalarupa's picture

Guess who's getting fired now fuckface...?

Wed, 11/16/2011 - 11:12 | 1882600 marcusfenix
marcusfenix's picture

was this another casino? how the hell do you run a casino into the ground? that shouldn't even be possible...it's a casino, the house wins what, 90% of the time on these games? I mean people walk in the door, throwing down large sums of money knowing already that they are most likely going to leave with less than they started.

It's the one place where people go to lose money for the fun of it...how do you mismanage that idea so badly that you have to file chapter 11?

this guy would have been perfect for 2012...

Wed, 11/16/2011 - 11:13 | 1882605 Bruin4
Bruin4's picture

The bigger question is why did anyone ever buy this mans bullshit? 

Wed, 11/16/2011 - 11:15 | 1882606 Mae Kadoodie
Mae Kadoodie's picture

This is a phenominal opportunity to own Panamanian real estate gold.

Wed, 11/16/2011 - 11:15 | 1882615 TheBadgersSett
TheBadgersSett's picture

This guys finances have had more hits than the Beatles

Wed, 11/16/2011 - 11:15 | 1882616 hivekiller
hivekiller's picture

He's a member of the too big to fail club.

Wed, 11/16/2011 - 11:16 | 1882619 badgerman67
badgerman67's picture

Not a big fan of Trump but get your facts straight before posting.  Doubt he even had much of an equity stake.  As for the debt probably not at all.  Pretty much marketing only for Trump on most deals partlcularly out of the US.  This Tyler might want to do a little due dili to confirm Trump is on the note.  

Back to your worthless discussions on gold or oligarchs.

Wed, 11/16/2011 - 13:48 | 1883313 Commander Cody
Commander Cody's picture

I personally don't know the facts regarding this investment in Panama and I don't care what the hell they are.  I hope he got a good retainer for lending his name to the enterprise though.  Is it all show?  Oh, by the way, what are the facts for those who might care?

Wed, 11/16/2011 - 14:19 | 1883403 tickhound
tickhound's picture

yeah, if only Trump could catch a break... And we followed Gordon Brown's priceless move a decade ago.

Wed, 11/16/2011 - 11:17 | 1882622 vegas
vegas's picture

dtrump@you'refired.com

 

The Donald,

You're fired! Nothing personal, it's just business. By the way, love your hair.

regards,

-vegas

 

 

http://vegasxau.blogspot.com

Wed, 11/16/2011 - 11:18 | 1882624 azzhatter
azzhatter's picture

CNBS is the station for criminals. They currently have several on staff and have had a long running affair with the Trumpster, Stanford, Corzine, and others. They did a s[pecial on that little weasel Tim Blixseth once before he went tits up. The station is a comedy including their very own assclown, Cramer

Wed, 11/16/2011 - 11:18 | 1882625 optionswriter
optionswriter's picture

In all fairness, Trump doesn't own the property.  He merely leased out his name.  He doesn't have any financial stake in the property.  I've been there and looked at it.  So I have some firsthand knowledge of it.

Wed, 11/16/2011 - 11:20 | 1882634 holycrooks
holycrooks's picture

hooray, trump gets it:

start a company, financing up to nose, pocket the cash, go bankcrupt, screw the stupid bond holder.

Wed, 11/16/2011 - 11:20 | 1882640 undercover brother
undercover brother's picture

it occurs to me he's got a particular method of doing business that seems to have worked for many years.   the constant self promotion and tough talk blind his bond holders to his true lack of abililty.   clearly he's been able to enrich himself with this act.   too bad there are new suckers born every minute.

Wed, 11/16/2011 - 11:22 | 1882649 NEOSERF
NEOSERF's picture

Trump is a genius...long ago he realized what the Fed and politicians are just coming to grips with.  That is that you come up with grand schemes with huge ROIs...get banks and investors to load up, build the thing, go bankrupt, wipe off the dept and keep a minority holding...onto the next project....if you or I tried this we would be living with the cats under the Atlantic City boardwalk but not this guy...

Wed, 11/16/2011 - 11:23 | 1882651 Taint Boil
Taint Boil's picture

 

 

Funny how this guy screws over the system and he is burned at the stake (read some of the comments). But oh, Trump does it and he is patted on the back as a shrewed businessman.

Wed, 11/16/2011 - 11:27 | 1882661 midgetrannyporn
midgetrannyporn's picture

#WINNING!

Wed, 11/16/2011 - 11:30 | 1882669 prains
prains's picture

poster boy for fuck wits anonymous

Wed, 11/16/2011 - 11:30 | 1882673 riley martini
riley martini's picture

No congressional insider theft account at risk . No bailout for you . Panama has the best beaches .

Wed, 11/16/2011 - 11:34 | 1882686 hannah
hannah's picture

my old bond class professor absolutely hated trump and this was 25 years ago. he said trump always ended a project with a bnk or a threat of bnk to redo the deal......

Wed, 11/16/2011 - 12:42 | 1883019 Larry Dallas
Larry Dallas's picture

When I worked at an investment bank we would never do business with Trump. To quote my boss "there wasn't an indenture that could contain him".

Wed, 11/16/2011 - 11:37 | 1882700 Zola
Zola's picture

Dont forget that when debt is defaulted on it is THE SAVERS that lose, the responsible people who have deferred consumption in the hopes of future gratification, the BEDROCK of Capitalism. When credit is so misallocated and given in huge quantities to these clowns like trump and all these real estate "magnates" who just had access to the huge credit amounts to buy up all this real estate crap , this is sickening. Time for major changes.

Wed, 11/16/2011 - 11:42 | 1882726 Dogfather
Dogfather's picture

Well he certainly appears to be qualified to be President.  In what country was he born?  Is Hell a country?

Wed, 11/16/2011 - 11:45 | 1882741 kaiserhoff
kaiserhoff's picture

Not sure it's a country, but I'll bet it's less ugly than Queens.

Wed, 11/16/2011 - 12:26 | 1882936 writingsonthewall
writingsonthewall's picture

So greece and italy cannot default - but Trump can make a habit of it?

 

Where are the calls for an end to the 'socialist hairpiece' or the demands to curtail the "excessive Trump pension" - or perhaps the calls to insist that "debtors should be FORCED to pay" and when will we see an Italian dictator imposed on Trump to extract the wealth for his creditors?

 

Either Capitalism works for all - or it doesn't work.

 

People should consider the differences between these two defaults - and why the Trump is allowed to walk away but nations cannot.

 

We will be handing 'Trump islands' over to the creditor? or will this all have been pre-seperated into neat little limited losses for Trump?

Just like that awful American show I saw the other day - these 'rich' plead poverty - but they have no idea what it is.

Wed, 11/16/2011 - 12:41 | 1883012 NotApplicable
NotApplicable's picture

Why? Because a sovereign default would undermine confidence in the criminals in charge, leading to widespread chaos (something they'd rather dish out piecemeal over time in certain places).

It's all about maintaining the facade. Eventually, things will get so bad, that people will demand a different facade, and (un)fortunately??? they will get it.

As for Trump, anyone who still "invests" with him, gets what they deserve.

Wed, 11/16/2011 - 12:39 | 1883002 Ted Baker
Ted Baker's picture

YEAH THE SUCKER WHO ALSO BOUGHT DEAD BANKRUPT BANK OF AMERICA SHARES

Wed, 11/16/2011 - 12:53 | 1883089 Shizzmoney
Shizzmoney's picture

Lawrence O'Donnell called out this fraud on his show a few weeks ago, he's nothing more than a actor who plays a millionaire on television.

http://www.youtube.com/watch?v=6RPX5EIVOTs

(I'd bang the shit out of his daughter, though.  But I'm obv not in her price range.  Of course, she's married to some meritocratic NYSE banker.)

Wed, 11/16/2011 - 13:17 | 1883197 Smokey1
Smokey1's picture

In business matters, Donald Trump's confidence exceeds his ability in every conceivable way.

 

The Donald eats shit.

Wed, 11/16/2011 - 13:54 | 1883286 mliu_01
mliu_01's picture

No worry, Trump will come out telling people his is a Billionair.

Oh can someone do a hitler hear trump file bk again piece? LOL that should be easy to do and should be funny like hell.

 

BTW, donald should start a new reality show "Sleeping with stars". I bet he will make billions of it. Totally will beat girls gone wild.

Wed, 11/16/2011 - 13:40 | 1883287 mliu_01
mliu_01's picture

No worry, Trump will come out telling people his is a Billionair.

Oh can someone do a hitler hear trump file bk again piece? LOL that should be easy to do and should be funny like hell.

Wed, 11/16/2011 - 14:46 | 1883570 Charles Bishop ...
Charles Bishop Weyland's picture

 fascinating.

 "At least THEY don't screw each other over', to quote one of my more switched-on former employees...

 <iframe width="560" height="315" src="http://www.youtube.com/embed/2s1MspmfEwg" frameborder="0" allowfullscreen></iframe>

  I wonder what ever happened to that girl. She had some fairly strong views on bad investments--for a new hire.

Wed, 11/16/2011 - 14:50 | 1883587 JW n FL
JW n FL's picture

 

 

It is only one portion of the deal, the latest.. if memory serves and it is Trump only in name..

 

Trump sold his name for branding purposes.. as much as he is hated here in America.. the Mexican's / other.. all Love him.. he is just thier style!

 

So? who wants to buy some defaulting paper in Panama @ 14%??? LULZ!!

 

VIVA EL Trump"O"!

Wed, 11/16/2011 - 14:53 | 1883601 omi
omi's picture

With little equity in his businesses, I'm sure Mr. Trump makes most of his money shorting the bonds his companies emit.

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