Have you ever been persuaded to believe something that is not true? You have the ability to investigate but you don't take the time. Factmonster.com provides information on many business leaders. Here's the site's blurb on "The Donald."
A self-promoting and flamboyant dealmaker, he was able to secure loans with minimal collateral in the free-wheeling '80s and created an empire in real estate, casinos, sports, and transportation. By 1990, however, the effects of recession had left him unable to meet loan payments. Although he shored up his businesses with additional loans and postponed interest payments, mounting debt brought Trump to business bankruptcy and the brink of personal bankruptcy. Banks and bondholders lost hundreds of millions of dollars but opted to restructure his debt to avoid risking losing even more in a court fight. By 1994, Trump had eliminated a huge portion of his $900 million personal debt and reduced substantially his nearly $3.5 billion in business debt. Forced to relinquish the Trump Shuttle (bought in 1989), he retained Trump Tower in New York City and control of his three casinos in Atlantic City.