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Trump = Dishonest Dufus

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December 01, 2008 – Comments (6)

This guy is an amazing fraud. Craters company after company, hosing shareholders and debtholders alike, and welches on his personal obligations too, crying "economy."

Last month, Trump filed suit against Deutsche Bank in New York State Supreme Court in Queens, seeking to excuse a repayment of more than $330 million due Nov. 7 and extend the construction loan for an unknown period of time because the global economic crisis was a "once-in-a-lifetime credit tsunami." Trump also seeks $3 billion in damages. On Wednesday, Deutsche moved to have that case dismissed.

This latest suit, filed by Deutsche, calls for Trump to make good on the personal payment guarantee he signed in February 2005 for the building if he didn't make the loan payments on time. The suit alleges that Trump did not pay the more than $330 million due Nov. 7, a date that already had been extended, and that on Nov. 10, Deutsche made written demands for the outstanding loan payment and the $40 million guarantee.

6 Comments – Post Your Own

#1) On December 01, 2008 at 3:33 PM, GNUBEE (24.85) wrote:

Trump:

When perception matters over reality. This guy should be remembered as one of the greats. He consistently manages to convince people that his stuff don't stink.

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#2) On December 01, 2008 at 7:20 PM, chk999 (99.97) wrote:

For some really good humor, read Trump's "Art Of The Deal" now. It was written before he blew up the first time and before he divorced Ivana. You can't buy comedy like that.

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#3) On December 01, 2008 at 7:41 PM, vtBrunson (46.52) wrote:

Looks like Deutsche Bank has secured the services of Mr. Steven Austin as the collections agent. Look out Mr. Trump 

 

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#4) On December 02, 2008 at 5:13 AM, abitarePERFECT (29.12) wrote:

FYI -
FIN 101: Spotting Gurus, Paid Liars, Fools and Cheerleaders (Part 2): Donald Trump on Oil May 22, 2008

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#5) On December 02, 2008 at 2:36 PM, jester112358 (28.83) wrote:

He is the poster boy for the "borrow yourself to wealth" philosphy.  Sure beats hard work and ingenuity any day.  Too bad they don't still have debtor prison.  I guess he's still a "billionair" though if you use absolute value to compute wealth.

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#6) On December 02, 2008 at 5:14 PM, TMFAleph1 (95.13) wrote:

Donald Trump is the P.T. Barnum of our age. However, one can learn a thing or two from him about branding.

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