One of Donald Trump’s dream projects was to erect the Trump Tower. He bought the land which was the site of the Bonwit Teller store, an architecturally renowned building which had catered to fashionable women since 1929. The Bonwit’s twelve story façade was embellished with a pair of stunning bas-relief panels which often reflected itself as the priceless examples of the Art Deco era. The Art Deco style was characterised by excess ornamental design, smooth lines, geometric shapes, streamlined forms and bright, garish colours. It was, to sum it up, generously decorative. Therefore it was expected to cause panic in the art community when trump took over the reins. Trump tried to brush away the concern by assuring that he would donate the architectural
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He made profit from real estate deals and through greenmailing. Yet he was unable to pay the contractors on his new Trump Taj Mahal building. Surprisingly the man who self-proclaimed to have 3 billion dollar net worth, found himself lacking resources to pay his bills. His inability to pay his debts had put him at risk of losing his casinos. The casino control commission could, if required cancel his license due to the increase in number of unpaid bills. It also raised the glaring question at the ignorance of the regulators that had led to this situation, their inability arising due to Trump’s hold in the government. Often the regulators remained wilfully blind at his actions. But as more and more news reports surfaced against Trump, the regulators found it tough to keep their blinders on. They started acting against him. Trump, desperately trying to avoid bankruptcy, issued a statement declaring his net worth at 1.5 billion dollars. But an independent evaluation by a private firm listed his net worth at negative 295 million dollars. This was an unprecedented situation for Trump. Yet, He had the presence of mind to realize that he would be swept into the dustbin of history if the regulators pressed charges against him. At last Trump was forced to face his most dreaded term – “bankruptcy”. But he did not want to publicly declare himself as bankrupt due to the traction that news would bring. Trump being an avid manipulator of media understood that admitting bankruptcy would be disastrous for his public image. So, with the lawyer’s subtle language, Trump avoided the “B” word but made clear that it might happen in the future. Four of the five regulatory commissioners used their power to take Trump’s side. They argued for him, essentially forming a deal which allowed Trump to pay back , less than what he owed, and at the same time advance him money to
He made profit from real estate deals and through greenmailing. Yet he was unable to pay the contractors on his new Trump Taj Mahal building. Surprisingly the man who self-proclaimed to have 3 billion dollar net worth, found himself lacking resources to pay his bills. His inability to pay his debts had put him at risk of losing his casinos. The casino control commission could, if required cancel his license due to the increase in number of unpaid bills. It also raised the glaring question at the ignorance of the regulators that had led to this situation, their inability arising due to Trump’s hold in the government. Often the regulators remained wilfully blind at his actions. But as more and more news reports surfaced against Trump, the regulators found it tough to keep their blinders on. They started acting against him. Trump, desperately trying to avoid bankruptcy, issued a statement declaring his net worth at 1.5 billion dollars. But an independent evaluation by a private firm listed his net worth at negative 295 million dollars. This was an unprecedented situation for Trump. Yet, He had the presence of mind to realize that he would be swept into the dustbin of history if the regulators pressed charges against him. At last Trump was forced to face his most dreaded term – “bankruptcy”. But he did not want to publicly declare himself as bankrupt due to the traction that news would bring. Trump being an avid manipulator of media understood that admitting bankruptcy would be disastrous for his public image. So, with the lawyer’s subtle language, Trump avoided the “B” word but made clear that it might happen in the future. Four of the five regulatory commissioners used their power to take Trump’s side. They argued for him, essentially forming a deal which allowed Trump to pay back , less than what he owed, and at the same time advance him money to