I was talking to my liberal Union hack friend last night. He brought something up and when I try to find any articles it immediately goes to CNN, NPR, NBC and all the usual characters. The articles say verbatim what he was saying.
I am sure there is way more to this.
He hates Trump because and I quote, "I don't like what he did by bankrupting companies and defaulting on loans". Then he went on some diatribe about he knows someone who knows someone who is a high ranking member of PNC bank who said PNC will never loan money to Trump. Trump made money by bankruptcy companies and defaulted on loans.
My answer to him was tell me how many mom and pop stores were bankrupted by Unions?
He looked and said I know.
Typical DEMONrat hypocrisy.
There's a difference between defaulting on a loan and renegotiating a loan. There is truth behind what your friend says, but it is misrepresented. If a company is drowning in debt, what is the best outcome?
A. Liquidate so the lenders can recover whatever they can, usually a small fraction of the principal.
B. Restructure the loans so the lenders get less than the face value, but more than they would from liquidation, while allowing the company to keep operating and to grow?
Option B is clearly better for the company, the employees, the company's customers, and even for the lenders, not to mention society as a whole. But to achieve that outcome the company usually goes through bankruptcy as part of the process. That's what Donald Trump has done many times, and he's completely up front about it. Then he makes sure management doesn't get into debt trouble in the future, and that it grows and thrives. That's exactly what I expect he'll do for the country.
If your friend wants to see predatory bankers rewarded at the cost of working men and women, he's not much of a union rep.
Thank you.