Trump's bankruptcies predated the downfall of AC, and they weren't caused by the Democrat policies - they were due to his own ineptness.
His first problem was that he had four casinos within walking distance of each other, all competing against each other for the same customers. There were a finite number of people going to AC to gamble - it wasn't like you could open a new casino and - POOF! - suddenly there are more gamblers. The casinos were poaching each other for customers - and Trump had four of them, trying to poach customers from each other. What competent businessman would do that?
The second and bigger problem was the construction costs. Trump's Taj Mahal cost a ridiculous amount of money to build, and there was no way it was going to make the million dollars a day+ figure he needed to repay the interest on the loans. In the process of trying to pay off the bank loans, he stiffed contractors and drove some of them into bankruptcy. All four casinos went bankrupt, and hundreds lost their jobs.
The Democrats had nothing to do with his failure - he just didn't know what he was doing. The guy he had working for him who DID know the casino business died in a helicopter crash before the casinos opened, so Trump thought he would just have to figure it out on his own. He couldn't.
None of this is my opinion - it's all documented in multiple books and articles. |
