Could it be? Is the Donald about to fire bankruptcy? That’s what our totally unfounded (and usually spot on) sources claim. I have to say, looking at that monstrosity of a tower on the river in Chicago, I am unsurprised. (Let’s not even start on the Atlantic City casinos). We’d love to say Donald is everything that’s wrong with this country, but at least the guy tries to pay off his debts in bankruptcy (all of which so far have been limited to corporate bankruptcy though he had a close shave in the ’90s) and he’s certainly had a lot of experience in the field, so things are looking up for his creditors (maybe). So really, when you think about it, it’s actually Donald’s hair that is everything that is wrong with this country.
The son of Donald Trump is also called Donald Trump, and now he is following his father’s footsteps by attaching his name to a financial company that will speculate on real estate. Two years ago, Donald Trump launched a mortgage company that would focus on luxury properties. It failed dramatically when the housing market crashed. Now Bloomberg is reporting that Junior Trump is planning on launching a “hedge fund” that will invest in property in India.
Trump mortgage turned out to be a company that was run by a shifty chief executive and had very little to do with anyone called Trump. The Donald Senior had licensed his name out to the company but had little role in management–a fact that no-one knew until it failed.
So will The Little Donald be running a hedge or just attaching his name to it? It’s not clear right now. What is clear is that he intends for the fund to invest money in the same way that Trump Mortgage did–specializing in high end properties. Others who are looking to invest in real estate in India? Oh, right. Those real estate savvy folks over at Lehman Brothers.
Trump Jr. Plans $1 Billion Fund for Indian Property [Bloomberg]