Donald Trump Trashes Ron Paul at CPAC: "Ron Paul cannot get elected, I’m sorry to tell you.”
It looks like Donald Trump wants to run for President because he viciously attacked Obama during his CPAC speech today and listed his creds for the job, but then cluelessly threw Ron Paul under the bus. Boos were showered upon him at the 10:30 mark. Trump fired off a series of tough talking points including declaring that “the world is treating us without respect,” we are “missing quality leadership” and that the “United States is the laughingstock of the world.” Additionally he had some harsh words for President Obama, who Trump declared “came out of nowhere” and didn’t even make an impression on any of his classmates when he went to school, because nobody ever heard of him. Most humorous was watching a large amount of supporters for Republican Congressman Ron Paul who chanted Paul’s name get smacked down by Trump who, with his trademark candor, broke the news to them that “Ron Paul cannot get elected, I’m sorry to tell you.” Instead, Trump was eager to inform everyone “if I ran and if I win, this country will be respected again.” He declared he was pro-life, against gun control, and would fight to end Obamacare and replace it with something that won’t bankrupt the country. I say clueless because if Trump had done his homework he would have known that Paul won CPAC’s straw poll just last year which was news to people who actually follow the news. Mr. Paul, a Republican Congressman from Texas who inspired an intense following for president in 2008, swept the 2012 presidential straw poll Saturday at the Conservative Political Action Conference . He won with 31 percent of the nearly 2,400 votes at the conference, edging out Mitt Romney , the former Massachusetts governor, who won the straw poll last year and who captured 22 percent of the vote. When Mr. Paul’s name was announced in the packed ballroom of a Washington hotel, it elicited hoots and boos along with applause. Although Mr. Romney won fewer votes, he seemed to draw stronger applause. As for The Hair, when he talks about going bankrupt, well that’s something he knows all too well. How Does Trump repeatedly file for Bankruptcy and still stay on top? And there’s this article: How Many Times Has Donald Trump Filed For Bankruptcy? For legendary tycoons, Donald Trump tops the list, but how many times has Donald Trump filed for bankruptcy? The 90’s recession wasn’t picky about who it affected. Donald Trump felt the pinch as well. His decision to use high interest bonds to finance the assembly of the Taj Mahal casino caused life to get very stressful for the tycoon. In 1991, unable to pay a $3.5 billion loan, he declared business bankruptcy. He also came close to filing personal ruin. At the time, his personal debt was estimated to be around $900 million. Due to the bankruptcy, banks and bondholders lost millions. They came to a compromise with Donald Trump. The banks gave him lower interest rates and a longer time frame to repay the debt and Donald Trump gave the investors half the ownership of the Taj Mahal. In mere months the casino was back in business. Not even a year later, Trump Plaza Hotel folded and Donald had to declare bankruptcy. Again, he worked out a deal where he’d give up 49 percent of the hotel to Citibank and the other lenders and he’d get more time to pay the loan back. It took him two years to repay most of his debt with many sacrifices. He had to give up the Trump Shuttle. The bankruptcy saga didn’t stop there. In 2004, Donald filed for bankruptcy protection and restructured his debt. He reduced his ownership of Trump Hotels & Casino Resorts to 27 percent and gave bondholders stocks to help lower his debt and then stepped down as CEO. In 2005, things settled down and Trump Hotels & Casino Resorts came out of bankruptcy with a new name, Trump Entertainment Resort Holdings. Unfortunately the reemergence didn’t last long. On February 17th 2009, Donald Trump filed for Chapter 11 bankruptcy with a debt ratio of $50 million in assets to his $500 million in debt. This filing made the third bankruptcy for Trump Enterprises. Trump had all the required right wing talking points down like hating on HCR, gun control and being pro-life, but as for CPAC goes, not so much.
Donald Trump Trashes Ron Paul at CPAC: "Ron Paul cannot get elected, I’m sorry to tell you.”
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on February 11, 2011. Filed under