Plain Ole not being a bankruptcy attorney I'm not qualified to comment on the info you put forth I'm sure it's accurate but this boom period from Reagan to the end of the Bush 43s run was fueled by eeeeasy credit. A huge portion which was never paid back. Not only is interest inflationary but someone receiving the earned income tax credit which is generally higher than what many people had withheld for federal income tax the government lost further revenue because lending institutions were allowed to write off these bad debts on their tax returns. Coupled with the mortgages that banks were forced to give thanks to bill Clinton led to the state of our economy now. So trumps little bankruptcy don't amount to much in the big picture besides it was legal..... On Apr 27, 2016 8:45 PM, "plainolamerican" <[email protected]> wrote:
> Secured creditors whose security interests survive the commencement of the > case may look to the property that is the subject of their security > interests, after obtaining permission from the court (in the form of relief > from the automatic stay). Security interests > <https://en.wikipedia.org/wiki/Security_interest>, created by what are > called secured transactions > <https://en.wikipedia.org/wiki/Secured_transactions_in_the_United_States>, > are liens <https://en.wikipedia.org/wiki/Lien>on the property of a debtor. > > Unsecured creditors are generally divided into two classes: unsecured > priority creditors and general unsecured creditors. Unsecured priority > creditors are further subdivided into classes as described in the law. In > some cases the assets of the estate are insufficient to pay all priority > unsecured creditors in full; in such cases the general unsecured creditors > receive nothing. > > Because of the priority and rank ordering feature of bankruptcy law, > debtors sometimes improperly collude with others (who may be related to the > debtor) to prefer them, by for example granting them a security interest > <https://en.wikipedia.org/wiki/Security_interest> in otherwised unpledged > assets. For this reason, the bankruptcy trustee > <https://en.wikipedia.org/wiki/Bankruptcy_trustee> is permitted to > reverse certain transactions of the debtor within period of time prior to > the date of bankruptcy filing. The time period varies depending on the > relationship of the parties to the debtor and the nature of the transaction. > > In Chapters 7, 12, and 13, creditors must file a "proof of claim" to get > paid. In a Chapter 11 case, a creditor is not required to file a proof of > claim (that is, a proof of claim is "deemed filed") if the creditor's claim > is listed on the debtor's bankruptcy schedules, unless the claim is > scheduled as "disputed, contingent, or unliquidated."[32] > <https://en.wikipedia.org/wiki/Bankruptcy_in_the_United_States#cite_note-32> > If > the creditor's claim is not listed on the schedules in a Chapter 11 case, > the creditor must file a proof of claim. > > On Wednesday, April 27, 2016 at 8:16:57 PM UTC-5, gtheist957 wrote: >> >> Does anybody realize how many people have filed bankrupcy? >> People who have run up debt irresponsibly and got to write the debt slate >> clean with the blessing of the federal courts. >> If a business venture goes belly up and no fraud is involved then tough >> shit people invested their money and are doing so at a risk knowingly. >> On Apr 27, 2016 6:52 PM, "Keith In Tampa" <[email protected]> wrote: >> >>> Not exactly Brine....If you do some digging, you'll find that everyone >>> involved in the Trump Organization's Bankruptcy Protection Chapter filings >>> all came out smelling like a rose! It was only Donald Trump who ever lost >>> anything..... >>> >>> >>> >>> On Wed, Apr 27, 2016 at 7:02 PM, Brian Bednarek <[email protected]> >>> wrote: >>> >>>> Loopholes in the legal system are how the one with the plane is allowed >>>> to fail at businesses and still come out richer!!! >>>> >>>> On Wed, Apr 27, 2016 at 9:53 AM, Travis <[email protected]> wrote: >>>> >>>>> >>>>> >>>>> >>>>> >>>>> >>>>> >>>>> >>>>> >>>>> >>>>> Think About It >>>>> >>>>> [image: IMG_4825.PNG]> >>>>> >>>>> >>>>> >>>>> __._,_.___ >>>>> ------------------------------ >>>>> Posted by: "Beowulf" <[email protected]> >>>>> ------------------------------ >>>>> >>>>> >>>>> Visit Your Group >>>>> <https://groups.yahoo.com/neo/groups/grendelreport/info;_ylc=X3oDMTJmZXEwcmdtBF9TAzk3MzU5NzE0BGdycElkAzIwMTk0ODA2BGdycHNwSWQDMTcwNTMyMzY2NwRzZWMDdnRsBHNsawN2Z2hwBHN0aW1lAzE0NjE3MTAzNzc-> >>>>> >>>>> - New Members >>>>> >>>>> <https://groups.yahoo.com/neo/groups/grendelreport/members/all;_ylc=X3oDMTJnYXRqbWxoBF9TAzk3MzU5NzE0BGdycElkAzIwMTk0ODA2BGdycHNwSWQDMTcwNTMyMzY2NwRzZWMDdnRsBHNsawN2bWJycwRzdGltZQMxNDYxNzEwMzc3> >>>>> 2 >>>>> >>>>> [image: Yahoo! 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