Fox News Moderator Chris Wallace questioned if Trump can be trusted to handle the American economy in light of the fact Trump-related businesses have filed, four times, for corporate bankruptcy since 1991.
“In 2011, you told Forbes Magazine this: ‘I’ve used the laws of the country to my advantage.’ But at the same time, financial experts involved in those bankruptcies say that lenders to your companies lost billions of dollars,” Wallace said to Trump. “Question sir: With that record, why should we trust you to run the nation’s business?” Trump, who stressed that he has never personally gone bankrupt, suggested he merely used legal procedures to his companies’ advantage. “Out of hundreds of deals that I’ve done — hundreds! — on four occasions, I’ve taken advantage of the laws of this country like other people. I’m not going to name their names because I’m not going to embarrass them. But virtually every person that you read about on the front page of the business sections, they’ve used the law,” Trump said. He continued: “The difference is when somebody else uses those laws, nobody writes about it. When I use it, they say, ‘Oh, Trump. Trump. Trump.’ The fact is I built a net worth of more than $10 billion. I have a great, great company. I employ thousands of people. And I’m very proud of the job I did. Again Chris: hundreds and hundreds of deals, four times I’ve taken advantage of the laws. And frankly so has everybody else in my position.”
Trump went on to argue, as he has in the past, that he was prescient to pull out of his Taj Mahal casino in Atlantic City, New Jersey. He concluded by suggesting his experience with debt makes him ideally suited to confront the challenges with the American economy. “By the way, this country, right now, owes $19 trillion and they need somebody like me to straighten out that mess,” he added…….
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