Art of the spin: Trump bankers question his portrayal of financial comeback

[Rob L 3,811]

TOP NEWS

Sun Jul 17, 2016 | 8:07 AM EDT

Art of the spin: Trump bankers question his portrayal of financial comeback

Republican presidential candidate Donald Trump attends a press event in New York July 16, 2016. REUTERS/Eduardo Munoz

Republican presidential candidate Donald Trump attends a press event in New York July 16, 2016.

REUTERS/EDUARDO MUNOZ

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By Emily Flitter | NEW YORK

(Reuters) - Donald Trump, who often says he only likes winners, tells one grand tale of loss: In 1990, he nearly went bankrupt and was forced to ask dozens of banks to whom he owed money to change the terms on their loans and forgive some of his debts.

It was, the real estate developer admits in his 1997 book "The Art of the Comeback," the darkest period of his professional life. In his telling, it's a story of redemption, of resilience, and proof of his exceptional negotiating skills and shrewd thinking.

Six people who participated in the loan workout negotiations have a different recollection, raising questions about a key part of the personal narrative that many of Trump's supporters have found compelling as he campaigns to be the next president of the United States on Nov. 8. On the campaign trail he has portrayed himself as a survivor and a master negotiator.

Trump says his comeback began when he recognized a downturn in the real estate market and quickly asked banks to renegotiate his loans. "That decision was perhaps the smartest thing I did," he wrote.

The six bankers and lawyers involved in the talks say the bailout wasn't based on any overture Trump initiated with the banks - and the terms of the deal were dictated by what was best for the banks, not Trump.

Three of the participants say Trump didn't acknowledge he had a problem until his lenders reviewed his books, realized he was on the brink of collapse, and summoned him for debt restructuring talks.

While much has been written about Trump's financial troubles at the time, there has been little examination of his description of the bank negotiations in "The Art of the Comeback," including his assertion that he chose to initiate those talks.

Trump's spokeswoman, Hope Hicks, declined to comment for this story

[Jacque67 7,328]

With the current lawsuit I doubt she'd have anything to say.

# nunberg

[Rob L 3,811]

With the current lawsuit I doubt she'd have anything to say.

# nunberg

SHE=Hope?

[Jacque67 7,328]

SHE=Hope?

Ha ha. Well there are rumours but... Yeah Hope.

As you know the nunberg case is going down but trump wants to distract.

A shame he could not garner political points over the Nice tragedy.

[Voice of Reason 10,298]

Compared to allowing murder to happen, lying to the entire USA, and having classified documents floating around in cyberspace, I'd say Trump is doing pretty well for himself.

#bankruptcy

#nobigdeal

#happenseveryday

#republicairlines

[The Nature Boy 7,659]

All the powerful people on both sides of the aisles that have been lying to and screwing America for over 40 years hate Trump. There is your sign.

[John Miller 761]

People that care about this country hate Trump. Take that as your sign. Trump will take this place down like his Atlantic City casino. And the main creditors of this nation is all of us. Trump won't give two hoots. Believe me.

Edited July 18, 2016 by TBoneTX
to edit a non-family-friendly plural noun

[Voice of Reason 10,298]

Naw, not so much. Those that "hate" (technically not possible), that fear him, are those that fear the positive change that he represents, the shifting of the powers back to what they were a few years back. Trump is a savvy businessman, and while I think it will be VERY difficult to reverse the direction of our current national debt, if anyone can at least slow down it's headlong race into implosion, it would be Donald.

He's not great, don't get me wrong. When I first heard he was running, I couldn't believe it, and rolled my eyes. But today, I feel he's the best candidate running. I'd rather gnaw my own arm off at the elbow than have Hillary leading us. Believe me.

People that care about this country hate Trump. Take that as your sign. Trump will take this place down like his Atlantic City casino. And the main creditors of this nation is all of us. Trump won't give two hoots. Believe me.

Edited July 18, 2016 by TBoneTX
to edit the quoted material per above

[Jacque67 7,328]

Naw, not so much. Those that "hate" (technically not possible), that fear him, are those that fear the positive change that he represents, the shifting of the powers back to what they were a few years back. Trump is a savvy businessman, and while I think it will be VERY difficult to reverse the direction of our current national debt, if anyone can at least slow down it's headlong race into implosion, it would be Donald.

He's not great, don't get me wrong. When I first heard he was running, I couldn't believe it, and rolled my eyes. But today, I feel he's the best candidate running. I'd rather gnaw my own arm off at the elbow than have Hillary leading us. Believe me.

]

Quite the image, sport.

[John Miller 761]

Naw, not so much. Those that "hate" (technically not possible), that fear him, are those that fear the positive change that he represents, the shifting of the powers back to what they were a few years back. Trump is a savvy businessman, and while I think it will be VERY difficult to reverse the direction of our current national debt, if anyone can at least slow down it's headlong race into implosion, it would be Donald.

He's not great, don't get me wrong. When I first heard he was running, I couldn't believe it, and rolled my eyes. But today, I feel he's the best candidate running. I'd rather gnaw my own arm off at the elbow than have Hillary leading us. Believe me.

]

You're in for a few rough years then. Get them teeth in shape...

[Voice of Reason 10,298]

I may, but after the last 8, I'll take my chances.

You're in for a few rough years then. Get them teeth in shape...

[The Nature Boy 7,659]

Oddly enough some other people who filed bankruptcy.

Abe Lincoln

Thomas Jefferson

Ulysses Grant