New Yorker: on Budget & Economy


Donald Trump: Brush with bankruptcy: $700M loss in debt restructuring

A story in the Times contained a reference to his past "brush with bankruptcy," and Trump took umbrage. He "never went bankrupt," he wrote in a letter to the editor nor did he "ever, at any time, come close." In fact, a debt restructuring began in the spring of 1990 and continued for several years. In the process, six hundred or seven hundred or perhaps eight hundred million of his creditors' dollars vaporized and drifted wherever lost money goes.
Source: Mark Singer in New Yorker magazine, "Trump Solo" May 12, 1997

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