Wednesday, April 20, 2011

Mr. Obvious Headline of the Day

Josh Green's post on Donald Trump has the headline, "In Financial Circles, It's Pretty Well Known that Trump is a Deadbeat." 

No kidding.  Even amongst Western Ohio farmers that is pretty well known. I can't believe that he could run for President when the country is facing bankruptcy, unless we want somebody in there who knows about the process.  That dude has bombed more deals than we've bombed wedding receptions in Afghanistan.  Jeez.  From the story:
Last night, NBC News did a damning expose of Trump's record, which is replete with bankruptcies, lawsuits, and aggrieved former investors. But that only scratched the surface. Trump's hilarious, bombastic dismissal of Mitt Romney's business career, coupled with his heightened political profile and rampant egotism, suddenly seems to be rubbing Wall Street folks the wrong way. Financiers who chuckled about Trump, have become peeved and willing to share their thoughts on his business acumen.

Earlier this evening, I had the opportunity to get the unvarnished thoughts of a former Deutsche Bank employee familiar with Trump from this $640-million deal gone awry on the Trump International Hotel & Tower in Chicago. Trump was sued to collect on a $40-million personal guarantee that was part of the deal. Suffice it to say, the banker held a dim view of the Donald. "[The Chicago deal] was pretty minor given all the other things going on at the time. Real estate developers do default from time to time," he said. "But this guy has been doing it for 20 years, failing. Remember the Trump Shuttle? That's why he'll never run. His finances just won't hold up to scrutiny. It's pretty well known in financial circles that this guy is a deadbeat."
Why would anybody take this guy seriously?  My guess is that he's just a glorified con man, but the GOP always seems to fall for a flim-flam man.

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