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<blockquote data-quote="The Patriarchy" data-source="post: 17173" data-attributes="member: 162">Donald Trump&#039;s ventures in the casino industry, particularly in Atlantic City, bear notable parallels to narratives found in the Grand Theft Auto (GTA) series, especially concerning themes of ambition, financial turmoil, and organized crime.1. Ambitious Casino Ventures and Financial DownfallIn the late 1980s and early 1990s, Trump expanded his casino empire in Atlantic City, opening establishments like the Trump Plaza, Trump Castle, and the Trump Taj Mahal. Despite their grandeur, these casinos faced significant financial challenges, leading to multiple bankruptcies. For instance, the Trump Taj Mahal, once dubbed the &quot;eighth wonder of the world,&quot; filed for bankruptcy in 1991 due to overwhelming debt.<a href="https://www.newyorker.com/news/our-columnists/donald-trumps-business-failures-were-very-real" target="_blank">The New Yorker</a><h3>Key Instances of &quot;Cheating the Cheater&quot;</h3>
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<li data-xf-list-type="ol">Leveraging Bankruptcy to Retain Control<ul>
<li data-xf-list-type="ul">Trump’s Atlantic City casinos faced multiple bankruptcies, but each time he managed to retain some level of control. By leveraging bankruptcy protections, he limited personal financial losses and often negotiated restructuring deals that allowed him to keep his name and influence in the businesses, despite having owed creditors large sums. This maneuver essentially shifted the financial burden to creditors and investors while enabling him to remain in the casino business.</li>
</ul></li>
<li data-xf-list-type="ol">Junk Bond Financing at the Taj Mahal<ul>
<li data-xf-list-type="ul">Trump’s construction of the Trump Taj Mahal was funded primarily through high-interest junk bonds, which carried significant risk for the investors backing them. He managed to walk away relatively unscathed when the casino faced bankruptcy, with the financial fallout hitting bondholders the hardest. Many saw this as a tactic of &quot;cheating the system&quot; to avoid personal loss, leaving investors with the consequences.</li>
</ul></li>
<li data-xf-list-type="ol">Underpayment of Contractors<ul>
<li data-xf-list-type="ul">Trump was also known for underpaying or delaying payments to contractors involved in building and maintaining his casinos. This tactic, described by some as &quot;cheating the cheaters,&quot; exploited smaller businesses, which had little recourse due to the high legal costs of pursuing claims against a major player like Trump. This tactic allowed him to cut costs, effectively benefiting at their expense</li>
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[QUOTE="The Patriarchy, post: 17173, member: 162"] Donald Trump's ventures in the casino industry, particularly in Atlantic City, bear notable parallels to narratives found in the [I]Grand Theft Auto[/I] (GTA) series, especially concerning themes of ambition, financial turmoil, and organized crime. [B]1. Ambitious Casino Ventures and Financial Downfall[/B] In the late 1980s and early 1990s, Trump expanded his casino empire in Atlantic City, opening establishments like the Trump Plaza, Trump Castle, and the Trump Taj Mahal. Despite their grandeur, these casinos faced significant financial challenges, leading to multiple bankruptcies. For instance, the Trump Taj Mahal, once dubbed the "eighth wonder of the world," filed for bankruptcy in 1991 due to overwhelming debt. [URL='https://www.newyorker.com/news/our-columnists/donald-trumps-business-failures-were-very-real']The New Yorker[/URL] [HEADING=2]Key Instances of "Cheating the Cheater"[/HEADING] [LIST=1] [*][B]Leveraging Bankruptcy to Retain Control[/B] [LIST] [*]Trump’s Atlantic City casinos faced multiple bankruptcies, but each time he managed to retain some level of control. By leveraging bankruptcy protections, he limited personal financial losses and often negotiated restructuring deals that allowed him to keep his name and influence in the businesses, despite having owed creditors large sums. This maneuver essentially shifted the financial burden to creditors and investors while enabling him to remain in the casino business. [/LIST] [*][B]Junk Bond Financing at the Taj Mahal[/B] [LIST] [*]Trump’s construction of the Trump Taj Mahal was funded primarily through high-interest junk bonds, which carried significant risk for the investors backing them. He managed to walk away relatively unscathed when the casino faced bankruptcy, with the financial fallout hitting bondholders the hardest. Many saw this as a tactic of "cheating the system" to avoid personal loss, leaving investors with the consequences. [/LIST] [*][B]Underpayment of Contractors[/B] [LIST] [*]Trump was also known for underpaying or delaying payments to contractors involved in building and maintaining his casinos. This tactic, described by some as "cheating the cheaters," exploited smaller businesses, which had little recourse due to the high legal costs of pursuing claims against a major player like Trump. This tactic allowed him to cut costs, effectively benefiting at their expense [/LIST] [/LIST] [/QUOTE]

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