Trump Believes in Bankruptcy

Donald Trump has openly advocated for using Chapter 11 bankruptcy as a legitimate business tool, rather than a sign of failure, to restructure debt and protect assets. While he has never personally declared personal bankruptcy, his companies filed for Chapter 11 bankruptcy protection four to six times between 1991 and 2009, specifically targeting Atlantic City casino properties and hotels.

Key Aspects of Trump’s Views on Bankruptcy:

• Strategic Tool: Trump has stated he uses "the laws of the country to my benefit". He has argued that many top business people use bankruptcy to restructure, and it is a "smart thing".
• "King of Debt": Trump has described himself as the "king of debt" who loves playing with it, noting that if a business, such as a hotel or casino, doesn't work out, he can renegotiate and "make a deal".
• Context of Filings: The bankruptcies involved entities like the Trump Taj Mahal (1991), Trump Plaza Hotel (1992), and Trump Hotels and Casino Resorts (2004), allowing him to shed significant debt.
• Distinction: He distinguishes these corporate restructuring events from personal bankruptcy, arguing his personal finances remained intact while his businesses used legal frameworks to handle debt. 

Critics have often pointed to these bankruptcies to suggest a pattern of risky financial behavior, while supporters often view it as savvy business navigation.

So what does he have in mind for the nation?