Donald Trump declares bankruptcy in Puerto Rico

Book - 12-10

 

More than once, Donald Trump has refused to support bankruptcy protection for Puerto Rico. Instead, he told CNN that Puerto Ricans “have too much debt” and “I would not bail them out.”

Trump called himself “The King of Debt” in this CNN interview, but another name is more appropriate…the Height of Hypocrisy. Because Donald Trump himself declared bankruptcy in Puerto Rico, just under two years ago.
 

Donald Trump and his bankrupt golf course in Puerto Rico

 
THE TRUMP INTERNATIONAL GOLF CLUB

Donald Trump was one of the principals in the Trump International Golf Club in Puerto Rico. It was an elegant resort, with a 46,000-square foot clubhouse and two 18-hole courses.

Unfortunately, Trump borrowed $26.4 million in municipal bonds for new construction. He defaulted on a payment of $119,814 to the bondholders in August 2014, then declared bankruptcy on July 13, 2015, due to “financial difficulties.”

http://fortune.com/2015/07/14/trump-puerto-rico-golf-bankruptcy/

http://therealdeal.com/miami/blog/2015/07/13/trump-golf-club-in-puerto-rico-files-for-bankruptcy/

http://www.washingtonpost.com/politics/how-donald-trump-can-make-money-even-when-trump-branded-properties-fail/2015/07/23/1ff64854-2ef1-11e5-8353-1215475949f4_story.html

In declaring this bankruptcy, Trump defaulted on municipal bonds that contained teacher pension funds from Puerto Rico.

In other words, Trump built a golf course for other rich Americans, using Puerto Rican land and Puerto Rican money. Then when the deal fell apart, Trump declared bankruptcy…and the people of Puerto Rico were left holding the empty bag, and paying for the Trump’s debt.

THE HYPOCRISY KICKS IN

Donald Trump skipped out on $26.4 million in municipal bond debt in Puerto Rico. He used the bankruptcy laws to avoid paying it.

But now, when Puerto Rico allegedly “owes money” to the US, the tune changes from “bankruptcy protection” To “Puerto Ricans have too much debt,” and “I will not bail them out.”  

http://www.nydailynews.com/news/election/trump-opposes-puerto-rico-bailout-island-nears-economic-ruin-article-1.2625921

http://www.nbcnews.com/news/latino/trump-would-not-bail-out-puerto-rico-if-elected-n568246

With brutal clarity, the bankruptcy of the Trump International Golf Club shows the hypocrisy of Donald Trump…and the entire relationship between the US and Puerto Rico.

When Wall Street ruins the entire US economy, and creates a nationwide mortgage crisis, the US provides them a TWO TRILLION DOLLAR BAILOUT.

PUERTO TRUMP

But Puerto Rico will not see a bailout, a bankruptcy procedure, an economic development plan, or a revocation of the Jones Act.

Puerto Rico sees a Financial Control Board.

For 118 years, Puerto Rico has been America’s ATM in the Caribbean.

For 118 years, the US eats dinner and Puerto Rico pays the bill.

For 118 years, Puerto Rico has been…Puerto Trump. 

 

For a history of the War Against All Puerto Ricans, read the book…

War Against All Puerto Ricans: Revolution and Terror in America’s ColonyBuy it Now

Si prefiere ver la página web en español por favor visite: http://www.guerracontratodoslospuertorriquenos.com

 

38 Comments on “Donald Trump declares bankruptcy in Puerto Rico

  1. Give me a break. Puerto Rico has been living of the USA for decades. The government of Puerto Rico is corrupt. Puerto Rico needs to get off its ass and pull its own weight. There are a lot of welfare cheaters in Puerto Rico. If I were President Trump, I would say: “You are now an independent country and you are on your own.” Let’s see what would happen then.

    Like

  2. Let’s be clear. This information about the financial situation in Puerto Rico has nothing to do with Trump. He has been presdent bearly 5 months. In all truth, Puerto Rico has been in financial ruin since the 1980s mostly due to the incompetence and the mismanagement of greedy (thiefvery) of politicians. Puerto Rico has continually been sold out by the same puertorricans. Yes, bankruptcy would have been less painful, but it would not avoid that in the future, a new generation of thieves would do the same to the Island. Hold those who made themselves rich on the backs of citizens of Puerto Rico ACCOUNTABLE. FIGHT FOR YOUR RIGHTS AND LEARN FROM THE PAST. LOYALTY TO A POLITICAL PARTY IS OVERRATED. VOTE FOR THE CHARACTER OF THE CANDIDATE AND HIS/HER VISION FOR PUERTO RICO.

    Like

  3. Donald Trump he doesn’t know how to run his business
    Now he wants to run the United States
    What a joke.J

    Like

  4. IPuerto Rico is paying taxes.11.2cent I just went out there, an ask why so much? Not even.in NY were I lived all my life,now living in FL. Puerto Rican Government issued that to try to pay there debt! Hello so before u say Puerto Rican don’t pay taxes do ur research I love that Island an contemplating to go back why not?an crimes n lowlifes come in every color an shapes OK.That Island is not a man made Swamp!!We still got good humble,smart,polite,sincere,simple humans! Just saying!

    Like

  5. You obviously know nothing of business and government debt. A business is there to produce revenue for stakeholders and if it does not work, it has the ability by law to declare bancruptcy; but the government of Puerto Rico, and all governments, do not produce anything, only take from producers. Consequently, the government MUST be careful not to overspend the people’s money. The government of Puerto Rico thinks everything belongs to them lime all socialist, communist and fascists. You reap what you sow…
    __________________________________________________________________________________________

    Hector,

    You, on the other hand, are all-knowing.

    Like

  6. I lived there in the nineties and left for good in 2000 when I attempted to start a small business to provide training and employment for people on government benefits. Every politician I spoke to told me they would approve and help promote the project provided I made “donations” to their political campaign funds. It would have been a total of $45,000
    in bribes to get a $100,000 SBA loan. I really hate to see the Yanquis move in and take over our land like they have done in Hawaii, but the fault of this situation rests fully on the laps of the population who thought that getting their party elected was an open door to the Nation’s coffers, and not thinking of where the money was coming from and WHO was going to have to pay it back.

    Liked by 1 person

  7. PR is full of corruption and it had NOTHING to do with the outside US government. Try stopping our own politicians from stealing and maybe we would have more to give to our people and pay our bills. Hmmmm

    Like

  8. Thing is America doesn’t want to help PR they want to choke out the people so they leave their homes and the island that’s all it’s about.

    Like

  9. Donald Trump is not an example of a good citizen or representation of the american people. He is nothing but a lying, manipulating bully who “played” Puerto Rico. I for one, am ashamed he calls the United States home. I am from Austin, Texas….where the truly, real americans live…and we like pig done well over the coals.

    Like

  10. Donald Trump never declared personal bankruptcy. Just because he’s had businesses that he filed for bankruptcy doesn’t mean that he himself declared bankruptcy.

    Like

  11. Now what? A 40-foot high wall between Puerto Rico and Florida?

    Like

  12. Trump stated that the United States should default (declare bankruptcy) a few weeks ago. This would send the United States into a depression and send the world economy into a tailspin. Trump is not only an ignorant hypocrite, he is DANGEROUS!!

    Like

  13. We all know the Puerto Rico is a common wealth and yes it is US territory Our government, yes Congress, need to do what is right for our island of Puerto Rico that is to protect it. We all know Puerto Rico is a moneymaking machine for the United States of America. The system allowed Donald trump, to declare bankruptcy in Puerto Rico over a deal that backfired on a golf course. What giving God gives him the right to enter Puerto Rico and Delare bankruptcy and now to stop Puerto Rico from doing the same. It is a shame how this country has change for the money not the compassion of the people Taxes are also manipulated.

    Like

  14. Oh please …. Is has helped PR for many, many yrs. I’m puertorican and I worked all my life and my family and I am proud of it and there is no complains here about it. But in PR , lots of the people not all but a considerable high percentage , are disabled getting checks from the SS and lots of women living “LA DULCE VITA” collecting from the Goverment because they have kids outside of marriage. Everybody is taking and no one wants to put back… I don’t want socialism in our island. If we don’t do something soon internally in our way of life there is not going to be an island to go to.
    Blame also the corruption in the PR Goverment . A bunch of delinquents with license to steal.
    Empresas Diaz was the owner of that Gulf place and yes Trump took a loan and yes Trump didn’t paid back 119, thousands dollars, but he was one of many investors…
    I’m not a Trump sympathizer but I see clearly what’s going on. Let’s not blame other entities when the problem is at home.
    Please excuse my grammar

    Liked by 1 person

  15. Why does Puerto Rico think they should be able to use US taxdollars when they pay no taxes and always vote not to be a state.

    Liked by 1 person

  16. Trump never loses money in any of his bankruptcies because he always designs his enterprises in such a way that he is personally protected. He loses other people’s money. What do you think he’d do to the US?

    Liked by 1 person

  17. Pingback: Episode 33: The Language of the Election Season | The Common Errors in English Usage Podcast

  18. Just to clarify information in this article. Teacher pension funds were drained by local government, and the massive debt here was created by them as well. All you have to do is look at history to see this is not one persons fault. Politically motivated much?

    Liked by 1 person

  19. Funny, KOA, you say he did not have a stake in the property then why did he take out a $26.4 million loan? Trump borrowed $26.4 million in municipal bonds for new construction. He defaulted on a payment of $119,814 to the bondholders in August 2014, then declared bankruptcy on July 13, 2015, due to “financial difficulties.” If Trump who says he is worth 10 billion dollars all of a sudden can not pay his loan back, this is fraud! What difficulties does a man who has 10 billion dollars have that he cannot make a $119,814.00 loan payment? Out and out fraud! This is a man who should be in jail he is the king of ponzi schemes! He borrows and never repays then goes bankrupt! This is not the first time he has done this he has done this all over the world! He borrows money then declares bankruptcy. He has judges and politicians in his pocket, he is just as bad as any mafia guy, I bet he even has some bodies buried in his construction sites. You don’t get this big in the construction industry without help from the mob. This is what he will do to the USA, he will take us to the cleaners and laugh!

    Liked by 1 person

  20. Donald Trump does not own the club, it is owned by Empresas Diaz which is a local PR developer. Trump licensed his name only and the developer is in default with Trump as well. The claim that Trump filed bankruptcy is an outright lie. This sets the tone for the entire book (which I would not waste my time reading).

    There is no war against Puerto Rico. The Puerto Rican Government has to take responsibility for the years of overspending and out of control corruption. Granted, the US has implemented laws that have not helped such as the minimum wage and federal welfare programs which take away the incentive to work but the island is run by Puerto Ricans. There will never be a solution to the problem unless all accept the reality of the situation.

    Liked by 1 person

  21. Trump did not own the golf course but according to Eric Trump , they managed the golf course…. So it is just as bad….they even bankrupt other peoples companies.

    Like

  22. Anyone voting Drumof is as racist as he is. he is not the King Of Debt. He is the King of utter and complete stupidity, violence, bigotry, misogyny, and wants to date his daughter.

    Like

  23. The fault for the colapse of the golf course should rest on the shoulders of the politicians that took the bribes to get Drumpf approval on his loan from the PEOPLE OF PUERTO RICO. A Puerto Rican made money on this deal…look at who had the authority to approve the loan in order to find some of the money stolen from the people of P.R.

    Liked by 1 person

  24. A private corporation going bankrupt is not the same thing as a government going under. I want to see Trump win, he is a perfect example of how the system has gone wrong.

    Liked by 1 person

  25. I’m going by what the original text read !! I didn’t make anything up or assume his position in this drama !!! READ THIS ARTICLE !! THIS IS WHAT I DID !!!

    Like

  26. He is a disgusting hypocrite. Vote for any other candidate Please!! If voted in would destroy P.R!!

    Like

  27. You may want to look deeper into what you wrote From what I have read and understand,Donald Trump did not own or have a stake in the actual property. What he did was “lease”his name to the company who owned the golf course. The company paid him to use his name for the golf club. That’s about as far as his interest in this goes. Many celebrities and companies do the same thing. I could be wrong. But I am basing this on news accounts I read last year.

    Liked by 1 person

  28. As an interesting observation: There are Sika virus outbreak in Brazil but there is a “Summer Olympic 2016” to be held there and no one seems to be cancelling their trip!! That I know off!!!
    A baseball team just cancel their trip to Puerto Rico (because of Zika) but are going to Florida??? There have been Sika out breaks in Florida Also!!!
    We always get s###**d in Puerto Rico!!
    They really are out to destroyed us as a people!
    They want the CAGE NOT THE BIRD!
    Have any of you watch the documentary
    “La Operacion”, in youtube. We all should! as a reminder of the abuses done to us!!!
    In the documentary you see Lawyer Juan Mari Bras addressing the United Nations concerning the abuses done to our women to stop these illegal operations.
    We seem to have a short span memory!!
    As a reminder to all, it was The US Military Governors placed in Puerto Rico that experimented with our people!!

    Liked by 1 person

  29. I live on a island where education is virtually free yet including university yet the graduation rate is abysmal.

    I live on am island that more monuments to stupidity have been built than any other place I have been.

    __________________________________________________________________________________________________________

    You live on an island which you fail to appreciate. Perhaps you should leave.

    Liked by 2 people

  30. This is called total disregard for a people and total disrespect for an island. Demand congress to revoke the Jone’s act and let my people go. Why do they keep drawing blood out of a rock? The US has already made a point in destroying people of many other cultures. What gives? When is this empire going to stop being abusive?

    Liked by 1 person

  31. Reblogged this on It Is What It Is and commented:
    More than hypocrisy, this is immoral and unethical!
    “For 118 years, Puerto Rico has been America’s ATM in the Caribbean.
    For 118 years, the US eats dinner and Puerto Rico pays the bill.
    For 118 years, Puerto Rico has been…Puerto Trump.”
    But who cares? “It’s only Chinatown” … NAD!!

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: