Donald Trump’s Creditors Could Have Forced Him Into Bankruptcy But Chose Not To Because They Were Reluctant To Face Him In Bankruptcy Court. “After a decade of profligate borrowing, Trump lacked the cash to make his loan payments. Although he owned hotels, skyscrapers, casinos and an airline, his debts exceeded the value of his properties by hundreds of millions of dollars. Trump's lenders could have forced him into personal bankruptcy and stripped him of almost every-thing. But that didn't happen. Instead, the bankers and investors to whom Trump owed money made a series of deals that left him wealthy. They let him keep some properties and took control of others, and they reduced Trump's personal debt by about $ 750 million, more than four-fifths of the total. They didn't do it out of charity. Rather, the lenders were reluctant to confront Trump in bankruptcy court, where they would face years of delay and massive legal expenses. In the end, lenders said, they feared they would recover less money in bankruptcy than they could get by striking compromises with Trump.” [Washington Post, 11/29/92] Donald Trump Was On The Brink Of Bankruptcy Following The 1990 Real Estate Collapse But Was Able To Avoid Personal Bankruptcy By Selling Off Some Of His Cherished Possessions. ZAHN: “If the 1980s were the greed is good era, then Donald Trump was the decade's poster boy. But by 1990, the real estate mogul nearly lost it all due to a collapsing real estate market. He was on the brink of bankruptcy. To make matters worse, Trump was going through a personal crisis. His marriage was falling apart. … With a failed marriage behind him, Trump now focused on trying to rebuild his business. He was able to avoid bankruptcy by selling off some of his cherished possessions.” [CNN People In The News, CNN, 5/21/05] Donald Trump Appeared Upbeat During Negotiations With His Creditors But Was Personally Worried About Avoiding Bankruptcy. “Donald managed to weather the slings and arrows of doubters during these lean years and hunkered down with his bankers and with his debts. As the negotiations progressed, Donald's bankers looked for every alternative they could find to bankruptcy, because none of the banks wanted to contend with the mess that would ensue if the talks collapsed. And the Trumpster kept singing a happy tune. ‘He was always upbeat,’ recalled Harvey Miller, a lawyer representing Citibank. ‘One thing I'll say about Donald, he was never depressed.’ Unbeknownst to his creditors, Donald was just as worried about a bankruptcy as they were. He later told me that he wanted to avoid bankruptcy at all costs because he felt that it would permanently taint him as a failure or a quitter.” [New York Times, 10/23/05] PERSONAL HEALTH TRUMP CLAIMED TO HAVE NEVER SMOKED A CIGARETTE, DONE DRUGS, HAD A DRINK OF ALCOHOL, OR A CUP OF COFFEE Trump Said He Had Never Smoked A Cigarette Or Had A Drink Of Alcohol. ZAHN: “Trump rebounded personally as well. He married Marla Maples in 1993 and soon after she gave birth to Donald's fourth child. The couple would divorce only four years later. Despite a life lived out in the tabloids, Donald Trump has always worked hard and lived clean. He says he's never smoked a cigarette. Never even had a drink.” TRUMP: “I've seen people that I have great respect for and then they end up drunk one night. I could know them for five years, they end up drunk Confidential Page 213