Donald Trump is a liar
Virginia Trois thinks that Donald Trump “cares about America,” according to her May 12 letter to the editor.
He “cared” about Atlantic City, too. When Trump wanted permission from the New Jersey Casino Commission to complete the troubled Taj Mahal casino, he spun a fine tale for them about how he’d never have to use junk bonds, because banks were anxious to lend him money.
That turned out not to be true. He had to finance it with junk bonds, which have a high rate of interest because the borrower is considered risky. When they came due, he couldn’t service the debt, that is, pay the interest, and that was the first of his four bankruptcies.
People holding the bonds not only didn’t get their interest, but they also had to settle for something less than the face value of the bonds, because he had defaulted. That’s what bankruptcy is: a default.
He thinks it would be acceptable for the nation’s debt. America has never defaulted on its debts, and is doing pretty well, all things considered.
Atlantic City, far from benefiting from his adventure, was worse off than it had been, and so were the tradesmen, contractors, and others to whom his corporation owed money. Trump has bragged that he “made out fine.”
Furthermore, Trump is facing fraud cases in court, both in New York and California, because of Trump University. He has repeatedly said that those cases were settled. They were not; they are pending.
Trump is a liar who has accumulated many “pinocchios” from fact-checking organizations. Anyone who takes him at “face value” is going to learn just what “inflation” means.
Carole McIntyre
Waynesburg