chimera
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Australian Politics
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Genius at work.
"Based on Internal Revenue Service transcripts of Trump’s tax returns from 1985 to 1994, the Times report said that Trump’s core businesses racked up losses of more than a billion dollars in a ten-year period. During 1990 and 1991, the story said, Trump’s losses were so large that they “were more than double those of the nearest taxpayers in the I.R.S. information for those years.” Some of the dozens of banks that had lent money to Trump were threatening to foreclose on their loans, which could have caused a cascading chain of bankruptcies, including one for Trump personally.Rather than allowing this, which would have forced them to recognize large losses on the loans they had extended to Trump, the banks eventually agreed to keep him afloat by extending another sixty-five million dollars in credit.
“Wrapping up a hard-fought deal with bankers yesterday, Donald J. Trump narrowly avoided missing a payment deadline that could have led to personal bankruptcy,” the Times reported, on June 27, 1990. “But for the developer, who once seemed nearly invincible, the deal comes at a humbling cost: He has been forced to cede management control over his multibillion-dollar empire, at least temporarily, to the bankers who came to his rescue."_New Yorker.
same story here.
https://www.newcastleherald.com.au/story/5230073/bankrupt-nathan-tinkler-living-large-in-135-million-mansion/
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