>>WE’VE GOT A NEW SEGMENT FOR
YOU GUYS ON THE YOUNG TURKS, WE WILL DO ONE OF THESE A DAY —
DIFFERENT FACTS AS TO WHY DONALD TRUMP IS A LOSER. TRUST ME, WE
WILL HAVE PLENTY. I KNOW WE’VE GOT THREE MONTHS TO GO TO THE
ELECTION, WE WILL NOT RUN OUT. WHAT WE WANT YOU TO DO IS TO
TAKE THESE VIDEOS AND SPREAD THEM FAR AND WIDE, AND MAKE SURE
THAT PEOPLE UNDERSTAND WHO DONALD TRUMP REALLY IS. WHEREVER
YOU ARE, YOUTUBE, FACEBOOK, TWITTER, SHARE IT, LIKE IT, SEND
IT TO SOMEONE, BECAUSE WE ARE GIVING YOU FACTS, AND THE
AMERICAN PEOPLE NEED TO KNOW THIS BEFORE WE VOTE. FACT NUMBER
ONE, TODAY IS THE FIRST DAY, WE TALK ABOUT DONALD TRUMP’S FIRST
BANKRUPTCY. IF YOU DON’T KNOW, HE HAS HAD SIX. I DIDN’T KNOW
UNTIL RECENTLY, I THOUGHT HE HAD FOUR, POLITIFACT CHECKED INTO
IT, HE HAS BANKRUPTED SIX DIFFERENT COMPANIES. WHAT AN
UNBELIEVABLE LOSER. AND THEN HE GOES AROUND SAYING IT WAS A
SAVVY BUSINESS MOVED TO GO BANKRUPT. YOU KNOW WHAT IS A
MORE SAVVY BUSINESS MOVE? MAKING A PROFIT. I WENT TO THE SAME
BUSINESS SCHOOL IS DONALD TRUMP, I DON’T REMEMBER CLASSES ON
BANKRUPTCY. YOU WANT TO MAKE A LOT OF MONEY? GO GET BANKRUPT. WE DID NOT LEARN THAT, FOR GOOD REASON. HIS FIRST BANKRUPTCY WAS
THE TAJ MAHAL, IT OPENED IN 1990, IT WAS A GRAND CASINO IN
ATLANTIC CITY, HE BOUGHT IT FROM MERV GRIFFIN IN A COMPLICATED
DEAL, AND IT WENT BANKRUPT IN 1991, ONE YEAR LATER. LET’S JUST
NOTE THAT IT’S A CASINO — WHO IS STUPID ENOUGH TO LOSE MONEY
RUNNING A CASINO? THERE IS A SAYING, THE HOUSE ALWAYS WINS. THEY NOW HAVE TO AMEND THAT SAYING — THE HOUSE ALWAYS WINS
UNLESS THE HOUSE IS RUN LIKE A SCHMUCK LIKE DONALD TRUMP. WHY
DID HE LOSE MONEY? THE COST OF THE TAJ MAHAL WAS $1 BILLION,
AND HE FINANCED THAT THROUGH JUNK BONDS WHICH HAD AN INTEREST
RATE OF 14%. SO THE DEBT FOR THE TAJ MAHAL WAS $3 BILLION. LET’S
PAUSE HERE, LET ME EXPAND A LITTLE BIT YOU GUYS. ANYTIME YOU
FINANCE SOMETHING WHETHER IT IS A HOUSE OR A BUILDING OR A
CASINO, YOU WILL HAVE SOME INTEREST RATE ON IT BECAUSE YOU
WILL BORROW MOST OF THE MONEY, NOT A LOT OF PEOPLE HAVE $1
BILLION LYING AROUND TO BUILD A CASINO, NOT EVEN DONALD TRUMP,
EVEN WITH ALL THE MONEY HIS DADDY LEFT HIM. SO WHEN YOU GO
DO THAT, YOU HAVE TO BE REALLY CAREFUL WHAT INTEREST RATE YOU
PAY, OTHERWISE YOUR BILLS WILL START TO PILE UP AND YOU WON’T
BE ABLE TO AFFORD IT. THE HUBRIS AND THE STUPIDITY OF PAYING A
14% INTEREST RATE IS REMARKABLE. WHO THINKS, I’VE GOT THIS, 14%
INTEREST RATE ON JUNK BONDS, NO PROBLEM? AND THE FOOL LASTED
ONLY ONE YEAR. HE WALKS IN, I’VE GOT THIS — OH NO, WHAT IS THIS? YOU ARE TELLING ME 14% ACCRUES TO THIS MUCH MONEY? SO HE GOES
INTO CHAPTER 11. AT THAT TIME HE PUT A LOT OF HIS OWN MONEY ON
THE LINE, HE USED IT AS COLLATERAL FOR SOME OF THE
DEBTS. SO HIS PERSONAL LIABILITIES WERE UP TO $900
BILLION ON THE TAJ MAHAL. HE LEARNED FROM THAT LESSON, FROM
THEN ON HE VOWED TO NEVER PUT HIS OWN PERSONAL PROPERTY ON THE
LINE, SO THE FIVE OTHER TIMES HE WENT BANKRUPT, HE JUST WENT, HA
HA, IDIOTS, YOU LET ME ALL THAT MONEY, I ALREADY WENT BANKRUPT. SO WHEN YOU ARE $900 MILLION IN THE HOLE YOU HAVE TO SELL A LOT
OF THINGS AND IT BECOMES A PROBLEM. HE SOLD THE TRUMP
PRINCESS YACHT, HE HAD A YACHT HE BOUGHT FROM THE SULTAN OF
BRUNEI — OH NO, I HAVE TO SELL IT BECAUSE I COULDN’T FIGURE OUT
INTEREST RATES OR HOW TO RUN A CASINO. HE ALSO SOLD THE AIRLINE
— REMEMBER TRUMP AIRLINES? NOT A LOT OF PEOPLE DO EITHER, IT
WAS IMMEDIATELY SOLD OFF. THIS WAS THE SAVVY BUSINESSMAN? HIS
DADDY LEFT HIM $200 MILLION AND HE HAS BEEN BUNGLING IT EVER
SINCE. BY THE WAY, THE REPORTING PARTY — GEORGE W. BUSH LOST
MONEY IN OIL, TRUMP LOST MONEY IN CASINOS. IF YOU BASE A PARTY
IN IGNORANCE THIS IS WHAT YOU GET. I JUST WANT TO ADD ONE
OTHER WONDERFULLY DEMEANING FACT ABOUT THIS — ON TOP OF HAVING
TO SELL OFF HIS YACHTS AND PLANES AND OTHER THINGS, HE ALSO
AGREED TO A BANK-SET LIMIT ON HIS PERSONAL SPENDING. THAT IS
WONDERFUL. THEY HAD TO TREAT HIM LIKE A CHILD. THE BANK THAT HE
OWED MONEY TO WAS LIKE, HERE IS YOUR ALLOWANCE, LITTLE TRUMP JR. I KNOW YOU ARE PLAYING WITH DADDY’S MONEY BUT YOU WILL HAVE
TO HAVE AN ALLOWANCE. I ALWAYS WIN — YEAH, EXCEPT FOR ALL THE
TIMES YOU LOST, AND LOST HUGE.