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The title of this post is what the loss tells us about Trump.
It tells us that he's far, far, far from being as flawless as he says he is. It tells us he made some bad decisions at the wrong time (real estate market absolutely collapsed at the time). It was not a good time to be highly leveraged (as I assume he was) in the commercial real estate business. I know that Aetna, who I worked for after this period, lost well over $1.5 billion in real estate investments, that was exactly why Aetna sold half its business to Travelers in 1995. It was a major, major recession, and not everyone who got slammed was stupid or evil.
It also tells us very clearly, that if you keep trying, you can overcome loss and get back ahead. I don't know how he did it, I don't know if he cut corners or screwed people. I wouldn't bet my life against it, he's very capable of that.
This is not breaking news, it was fairly widely reported back then, that he was billions in the hole.
Do you judge a businessman on his worst years only? Or on his whole career?
The stock market went down Tuesday. Does that mean we're in the middle of a crash? Or was it one setback on a long road?
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