Here Is Another Example Of Trump The Chump Screwing The Little Guy Or Gal

[DemocratSinceBirth]

I had had been at Trump magazine for only four months when my first paycheck bounced.
We’d heard rumors of the company’s financial troubles, but I had no idea how bad it really was until my landlord called me one afternoon to tell me that my rent check hadn’t cleared. I logged into my online banking account and saw, to my amazement, that the magazine I worked for—the one with the billionaire’s name on the cover—had stiffed me. Although it was a stressful moment, the irony was not lost on me. It felt like I was living in an Onion article: “Luxury Lifestyle Magazine Can’t Pay Its Own Employees.”

http://www.politico.com/magazine/story/2016/08/donald-trump-magazine-employee-confessional-bankrupt-2016-214155#ixzz4HK0NzgbD

[MineralMan]

1. And what happens when checks from the United States Treasury bounce?

Trump doesn't care. Trump's business strategy is to bankrupt his companies and force creditors to settle for a fraction of what is owed to them. Why would he approach being President any differently.

Picture millions of Social Security automatic deposits not being made some month in the future.

[progree]

3. Treasury checks bouncing? At first I thought you'd gone loony tunes on us. Then I remembered this

article:

A Trump proposal for national debt would send rates soaring, AP, 5/6/16
https://www.yahoo.com/news/trump-proposal-national-debt-send-184432030.html

In the event that the U.S. economy crashed, Donald Trump has floated a recovery plan based on his own experience with corporate bankruptcy: Pay America’s creditors less than full value on the U.S. Treasurys they hold.

The presumptive Republican presidential nominee suggested in a phone interview Thursday with CNBC that he would stimulate growth through borrowing. If trouble arose, he added, he could get investors to accept reduced payments for their Treasury holdings.

...“I would borrow, knowing that if the economy crashed, you could make a deal,” Trump told CNBC.

...Trump has touted his acumen for restructuring four of his companies under bankruptcy laws. When Trump Hotels & Casinos finished a 2004 bankruptcy reorganization, it cut $500 million off $1.8 billion in debt and reduced the interest rate to 8 percent from 15 percent.

“I don’t think it’s a failure’ it’s a success,” Trump told The Associated Press at the time.

[MineralMan]

5. If you want to know how Trump would govern, just

look at how he has run his businesses. He will bring that philosophy into the White House, I guarantee.

He has stiffed many, many people to whom he owned money, or forced them to accept a fraction of what was owed.

That is part of his strategy in business.

[SunSeeker]

9. Yep. That's why American banks will no longer lend Trump money.

Hence his reliance on cash from Russian oligarchs.

[uponit7771]

12. +1

[Ilsa]

18. Our credit rating would be ruined. Our interest rates

and discount rates would go sky high if US debt is no longer a safe investment.

[MiniMe]

19. The biggest creditor is Social Security

That would be a major disaster

[Shrike47]

2. Link didn't work. Typical Trump, of course.

[perdita9]

4. Rich People Don't Pay their Bills

I saw this firsthand when I worked at a Vet's office in a high-income town. Unlike most places, we billed for services, you didn't have to pay at the time of your appointment.

The middle class people paid right away, the poor people tried to pay something when their dog needed care and then there were the families who drove luxury cars and wore fur coats. They carried balances of thousands of dollars and we'd have to bill them multiple times in hope of even getting a partial payment.

[PatSeg]

8. They tend to be lousy tippers too

I've found that working class people are often more generous and helpful in the long run. I can easily see rich people not paying their bills.

[perdita9]

10. Agreed!

I always tip even though I wish the owners would just pay their employees a decent wage.

[PatSeg]

11. I've worked for tips

so I always err on the side of too much.

Also we've noticed that if you're ever stranded on the side of the road with a flat tire or dead battery, it will almost always be ordinary working people who will stop and help.

[TheBlackAdder]

6. If Trump's a Chump, what are the people who open themselves to be taken advantage of him called?

[bettyellen]

13. Defending Trump and blaming the victims? Lovely.

[TheBlackAdder]

14. That's not what I did, but run with it.

.


Trump has a paper trail, much like Disney World does.

Yet, lawyer after lawyer will take a Disney case on the false thought that they will have some sort of in with the company. Meanwhile, FL law prevents a lawyer from suiting a former client. Disney does this to eliminate the available lawyers in the state and when the lawyer only gets one piddly case, they are somehow surprised that they do not get anymore. When in reality, there are years of reports of this behavior that went ignored.

Now, Trump has the same paper trail, which goes ignored by many small businesses who are the ones who should perform due diligence in vetting their customers. But, in the trek for profits, in the hopes of scoring a long-term client, or because of some perception they have of this enterprises, they go into business with him. Proper business dictates not to take on a venture that you cannot absorb a catastrophic loss on, but reality is that many people need money and enter in with those risks known.

Trump has done a wonder job building a facade that is sold to people, who invest in his ventures, and are the ones most hurt when they collapse. Time and again, people will place their whole nest egg in one of his projects only to lose it during bankruptcy. There is enough blame to go around, and we've all been victims of scams at one time or another. To pretend that most of the people hurt are not partially responsible is legitimizing the event.


.

[bettyellen]

15. Most of the people hurt are "partially responsible"? Nope/ it's on Trump.

Workers should not be expected to take the blame when companies refuse to pay them. Just no.

[TheBlackAdder]

16. I should have read the initial OP fully, I assumed it was a business to business venture.

.


You are correct, average people looking for work should not get screwed over.

How would they know? The businesses and investors should do dilligence before tying up money.


.

[progree]

7. "BUBBLE? WHAT BUBBLE? Real Estate Tips From Trump U."

That one from the left-side-most magazine cover in the OP says it all

[Liberal_in_LA]

17. A Magazine with his kids all over the covers, he moves on when it tanks, leaving unpaid

debts. typical