great company to me over the years, but it's a very small portion of my net worth, less than 2 percent.” MASON: “And you don't mind having the word 'bankruptcy' attached to your name?” TRUMP: “Well, I don't love it, but I feel that this is a great deal.” [CBS Evening News, CBS, 8/10/04] Trump Bragged About Taking Personal Advantage Of The Bankruptcy Laws. Washington Post on the first 2015 GOP debate: “That appeared to be the case on Thursday. Trump committed no major mistakes. If he was overbearing at times, well, that has been part of his appeal. If he was impolitic at other times — bragging about buying access to politicians or taking personal advantage of the bankruptcy laws — he has done that before” [Washington Post, 8/6/15] Donald Trump Bragged About Taking Companies With Bad Records, Chaptering Them, And Ending Up With “A Nice Little Asset.” “I’ve inherited a lot of bad contracts over the years, you know, where I buy a company cheap. Because the poor guy didn’t know what he was doing and he made a bad deal. So you buy it cheap, you throw it into a chapter, you beat up everybody, and you have a nice little asset. Right. You know. You do it. I do it professionally. There’s always a clause.” [Donald Trump Rally, Sparks, NV, 10/29/15] Trump’s Predictions On The 2007 Downturn Were Wildly Off 3/19/07: Donald Trump Said The 2007 Real Estate Collapse Would Be “Very Minor” And That He Was Poised To Take Advantage Of Falling Real Estate Values. “Donald Trump almost lost his shirt 15 years ago when the North American real estate bubble burst. The 2007 version of that disaster will be much more benign, the real estate magnate predicts, although there is softness in some urban markets, such as Toronto and San Francisco. ‘We're talking very minor [problems] compared with the depression of the early 1990s,’ Mr. Trump said yesterday in a phone interview from Los Angeles. Mr. Trump said he is poised to invest in depressed property as the downturn moves through individual cities. ‘People have been talking about the end of the cycle for 12 years, and I'm excited if it is,’ he said. ‘I've always made more money in bad markets than in good markets.’” [Globe and Mail, 3/20/07] 3/19/07: Donald Trump Advised Investors To Purchase Subprime Mortgages And Repossessed Houses At Low Prices. “Mr. Trump shrugged off concerns that a crisis in U.S. subprime mortgage lending, which caters to poor credit risks, would spread to the wider property market, including Mr. Trump's luxury buildings. "I don't see the subprime problems affecting the higher-end stuff," he said. In fact, he is advising investors that there are now great deals in buying subprime mortgages at a discount and repossessed houses at low prices.” [Globe and Mail, 3/20/07] TRUMP HAS REPEATEDLY PROVEN TO BE CLUELESS ON KEY FOREIGN POLICY ISSUES DURING A DEBATE, TRUMP DID NOT UNDERSTAND THE PRINCIPLE OF THE “NUCLEAR TRIAD” Confidential Page 33
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