January 20, 2016

THE ART OF THE BAD DEAL:

Trump's bad bet (Robert O'Harrow Jr., January 18, 2016, Washington Post)

Determined to move forward, he turned to the very junk bonds he had derided in the hearing. He agreed to pay the bond lenders 14 percent interest, roughly 50 percent more than he had projected, to raise $675 million. It was the biggest gamble of his career. [....]

"I didn't want to have any personal liability, so I used junk bonds. I accept the blame for that, but I would do it again," he said. But Trump vehemently denied that the deal represented a personal failing or affected his personal wealth.

"This was not personal. This was a corporate deal," he said. "If you write this one, I'm suing you."

Posted by at January 20, 2016 11:13 AM

  

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