A particular illiterate on this board, possibly two of them, redundantly chatters about that Donald Trump would make for a poor President because he's filed bankruptcy (which he hasn't ...ever). However, there have been Presidents that have, and you might be shocked at who:
1. Abraham Lincoln filed bankruptcy in 1834 after a business venture failed. When his partner died shortly after the business failed, Lincoln assumed the partner’s portion of the debt as well out of a sense of honor. His assets were seized and he spent years paying off the debt.
2. Thomas Jefferson: While a brilliant writer and a wealthy landowner, Jefferson didn’t have the best of luck financially. He was primarily a farmer and was subject to all the financial ups and downs that accompany that profession. He also lent out money and the payments made against those loans were unreliable. Additionally, he inherited debt from his father-in-law and from a friend for whom he cosigned a debt. Jefferson struggled with his own, expensive spending habits as well and died $107,000 in debt (roughly $1,000,000 to $2,000,000 in today’s money). Unlike today, he didn’t have the option to file bankruptcy except during a brief window from 1800 to 1803, which he did utilize. The struggles of our third president are an excellent illustration of how badly things can turn out when the option of bankruptcy isn’t available.
3. William McKinley: cosigned on a debt for a friend and that got him into financial trouble when the friend went bankrupt. To make matters worse, he was forced to declare bankruptcy while serving as the Governor of Ohio. Less than three years later, he was elected President of the United States, once again proving that bankruptcy isn’t The End some people make it out to be.
4. Ulysses S. Grant: After he left office, Grant invested heavily in Grant & Ward, a Wall-Street investment company set up by his son Buck and Buck’s friend Ferdinand Ward. Ward embezzled the funds the former President invested, eventually going to jail for it. However, President Grant was on the hook for hundreds of thousands of dollars of debt after Grant & Ward failed and he went bankrupt. The only way he was able to repay any of his creditors was through selling his Civil War memoirs which were published posthumously.
1. Considered by many as the greatest Presidemt to have ever served the country.
2. The Constitution of the United States.
3. Was assassinated.
4. Won the Civil War
Hmmmmmmmmmmm!!!!!!!
I've come to the conclusion that this chatter-box child simply is in need of attention and fails to understand what bankruptcy even is. It is my belief, from specializing in bankruptcy investments, that the majority of the population couldn't explain to you what a chapter eleven bankruptcy is. Par for the course, a loud mouth would rather hear the sound of his own voice rambling on than to conduct research, which takes effort.
I can guarantee one thing for certain -'there's no way that someone with such an adolescent mind could possibly fair well in the stock market, which begs the question: what is he doing here?
Evidence: he invested in a dark pink sheet (WOGO) that has a market cap of $60,000. Nobody with any average amount of money, say a minimum wage job, would invest in a company this small. I'm pretty sure several of us on this board could purchase the entire company. Not this guy. Maybe 22-23 tops. A punk.
Ignore the child.
1. Abraham Lincoln filed bankruptcy in 1834 after a business venture failed. When his partner died shortly after the business failed, Lincoln assumed the partner’s portion of the debt as well out of a sense of honor. His assets were seized and he spent years paying off the debt.
2. Thomas Jefferson: While a brilliant writer and a wealthy landowner, Jefferson didn’t have the best of luck financially. He was primarily a farmer and was subject to all the financial ups and downs that accompany that profession. He also lent out money and the payments made against those loans were unreliable. Additionally, he inherited debt from his father-in-law and from a friend for whom he cosigned a debt. Jefferson struggled with his own, expensive spending habits as well and died $107,000 in debt (roughly $1,000,000 to $2,000,000 in today’s money). Unlike today, he didn’t have the option to file bankruptcy except during a brief window from 1800 to 1803, which he did utilize. The struggles of our third president are an excellent illustration of how badly things can turn out when the option of bankruptcy isn’t available.
3. William McKinley: cosigned on a debt for a friend and that got him into financial trouble when the friend went bankrupt. To make matters worse, he was forced to declare bankruptcy while serving as the Governor of Ohio. Less than three years later, he was elected President of the United States, once again proving that bankruptcy isn’t The End some people make it out to be.
4. Ulysses S. Grant: After he left office, Grant invested heavily in Grant & Ward, a Wall-Street investment company set up by his son Buck and Buck’s friend Ferdinand Ward. Ward embezzled the funds the former President invested, eventually going to jail for it. However, President Grant was on the hook for hundreds of thousands of dollars of debt after Grant & Ward failed and he went bankrupt. The only way he was able to repay any of his creditors was through selling his Civil War memoirs which were published posthumously.
1. Considered by many as the greatest Presidemt to have ever served the country.
2. The Constitution of the United States.
3. Was assassinated.
4. Won the Civil War
Hmmmmmmmmmmm!!!!!!!
I've come to the conclusion that this chatter-box child simply is in need of attention and fails to understand what bankruptcy even is. It is my belief, from specializing in bankruptcy investments, that the majority of the population couldn't explain to you what a chapter eleven bankruptcy is. Par for the course, a loud mouth would rather hear the sound of his own voice rambling on than to conduct research, which takes effort.
I can guarantee one thing for certain -'there's no way that someone with such an adolescent mind could possibly fair well in the stock market, which begs the question: what is he doing here?
Evidence: he invested in a dark pink sheet (WOGO) that has a market cap of $60,000. Nobody with any average amount of money, say a minimum wage job, would invest in a company this small. I'm pretty sure several of us on this board could purchase the entire company. Not this guy. Maybe 22-23 tops. A punk.
Ignore the child.
"The more numerous any assembly may be, of whatever characters composed, the greater is known to be the ascendancy of passion over reason." - Federalist no. 58
