https://edition.cnn.com/2020/10/28/politics/donald-trump-loans-debt-new-york-times/index.html
How do you get a bank to forgive almost $300 million in loans for a failed real estate project? You act like Donald Trump.
This, from The New York Times about a Chicago skyscraper built by Trump that led to him to incur $287 million in unpaid debt by 2010, is remarkable:
"When
the project encountered problems, he tried to walk away from his huge
debts. For most individuals or businesses, that would have been a recipe
for ruin. But tax-return data, other records and interviews show that
rather than warring with a notoriously litigious and headline-seeking
client, lenders cut Mr. Trump slack — exactly what he seemed to have
been counting on."
Which means this: Donald Trump was such a public bully that the lenders preferred to work to eat the debt (or a large portion of it) rather than risk a fight with him because, well, they had made the calculation it simply wasn't worth it.
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