"And Frankly, That's What General Motors Should Be Doing Instead Of Asking For Money"
Published: February 19th, 2009
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More by Edward Niedermeyer
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I'm no Trump fan, but when he removes the ego and vulgarity, there's a smart businessman still in there somewhere. Trump's statements explaining the mortgage meltdown and bankruptcy were the most sense he's made in years.
The reason why Trump still is filthy rich while his schemes always seem to fail is because he doesn't invest his own money in them. He puts someone elses money in them and runs them into the ground. All while paying himself a large salary to run the scheme.
Trump is wrong. Why declare bakruptcy when the government will supply a seemingly unlimited amount of money to pay the bills? Why pay your mortgage when the government will pay it for you?
Guys (and gals), watch the video. Trump's name is on the casino, but he no longer owns it or manages it. He took the gaming part of his business public and then cashed out. There is a reason why Trump has a bunch of money. He's figured out when to exit a losing business. GM, unfortunately, hasn't learned that lesson yet. -ted