This story will probably get half the play that the taco bowl thing did… That’s what really sucks.
17 Likes
Not only dumber than we imagine, but dumber than we CAN imagine.
7 Likes
But again, he, and the Republican Party, oppose the right of Puerto Rico to be treated like US States and Municipalities in terms of being able to seek Bankruptcy Reorganization for THEIR debt. One of the biggest supporters of the Republican Party has spent the past 10 years in Federal Court insisting that Argentina be denied the right to renegotiate their Bond Debt and pay HIS “vulture fund” 100 pct on the dollar what he picked up on discount. They are ignorant AND intentionally hypocritical.
10 Likes
Maybe. Adelman is backing him.
3 Likes
Trump’s idea is not “nutso” at all. Default is a cornerstone of modern conservative economic policy. Mitch McConnell, Paul Ryan, John Boehner and conservative think tanks and intellectuals such as Jim DeMint, Newt Gingrich, Tom Delay and the Heritage Foundation all undertook repeated government shutdowns towards this conservative policy objective. Donald Trump is merely articulating this conservative approach.
Regardless of whether you are conservative or liberal, borrowing and lending should never be risk free for borrower or lender. It is central to maintaining moral hazard and market equilibria. The global financial meltdown and the housing crisis was a direct result of George Bush the Dumb Torturer’s conservative policies of deregulation, support for MERS, interest free loans/welfare for banks and the packaging of mortgages into derivatives that insulated lenders.
6 Likes
Don’t forget Piyushistan, A.K.A. Louisiana.
4 Likes
Anybody who understands the credit markets realizes this is a complete disqualifier. The problem is most Trump voters think the the credit market is what rate they can get on a doublewide.
6 Likes
I’m sure she believes Trump destroying the financial credibility of the nation will simply usher in an era of selfless communal spirit.
7 Likes
The whole bankruptcy concept doesn’t even work. You can have your discharge in bankruptcy blocked for defrauding the court and creditors on your sworn financial statements, which are supposed to show all assets and sources of income available to pay of the debt. Not only does the Constitution provide that the full faith and credit of the US shall never be questioned but it provides the Taxing and Spending Clause, which says:
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence[note 1] and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
No court is going to allow a discharge in bankruptcy when it easily lies within the petitioner’s power to generate the income necessary to pay his debts, just because he doesn’t feel like exercising that power. You don’t get to file bankruptcy and then quit your job to avoid having to go on a payment plan. The whole fucking discussion is fucking nonsense.
8 Likes
His favorite terms are “treated badly” or “unfairly.”
We need to keep a running tab on how many times he claims this.
1 Like
There’s even more. DId you see Rachel Maddow Thursday night revealing Trump’s finance guy is a predator bankster who used the feds to bail out his overextended bank, come back under a new name and proceed to forclose on 35,000 homeowners on the west coast? The finance guy is far more of a crook than Trump ever was. Need to read up on the people Trump intends to surround himself with. The guy thinks he’s the freakin GODFATHER!
14 Likes
OK, Israel, do you want what’s in the box? Or!!! Do want what’s behind the curtain???
1 Like
This is not a “nutso” “kooky” or “wacky” idea. It’s the stupid idea of a very stupid person who is dangerously unprepared to make national and international economic policy. Any student at the Wharton School who answered an exam question about how to deal with the national debt giving this answer would fail miserably.
Trump thinks he is smart. He should be panned far and wide for being an idiot when it comes to basic financial policy. Rub it in his face. Over and over and over.
12 Likes
Can you imagine what a Clinton running mate Warren could do with this.
2 Likes
Well, the guy is a hedge fund manager. He can short-sell before having Trump make god-awful dangerous comments that send the markets down. \s
4 Likes
He later added that is unless it Puerto Rico, because even though he serves Bacardi at Trump tower and love the Puerto Rican’s that doesn’t count.
3 Likes
This list is exactly how the anti-Trump ads should be done. Dont over analyze. Dont try complex explanations. Everyone will understand the list.
2 Likes
What George W had that Trump does not is this: GW Bush had been in and around the White House when his dad was veep to Reagan and when GHW was himself POTUS. Also GW had been a governor. When GW was in office he had his dad to go to for advice. Trump hasn’t got ANY governing experience AT ALL. Not even a scintilla. He’s been a CEO, a businessman. He’s used to giving orders and expecting them to happen. That’s not the way as POTUS. Trump missed civics 101. Just read his statements, listen to his interviews. Businessmen make shitty politicians because they don’t understand governing. They understand ruling…like a Caudillo rules. But that’s not the American way.
10 Likes
Mnuchin: “Obviously…” Good Lord.
1 Like
I still can’t wrap my mind around the fact the guy is a Wharton alum. Perhaps the admission policy may have been different back then? I don’t know. Those people I know from Penn are, needless to say, all smart, intelligent minds.
And this response pattern is not limited to questions about economic policies, but for every single economic/financial question his answers are all about himself. He’s a great negotiator, he is a savvy deal maker, he’s a smart borrower that takes advantage of bankruptcy, and he’s very very rich. Totally clueless, unfit, unqualified and dangerous.
This is not the time for the contested convention bullshit. The guy is one election away from presidency and we should be terrified about that possibility.
8 Likes