The repercussions from the <em>NYTimes</em> report that Donald Trump lost nearly a billion dollars are still molding the news, but one tidbit about his financial tailspin in 1990 seem to have been forgotten. As the <em>Times</em> reported at the time:
Wrapping up a hard-fought deal with bankers yesterday, Donald J. Trump narrowly avoided missing a payment deadline that could have led to personal bankruptcy.
But for the developer, who once seemed nearly invincible, the deal comes at a humbling cost: He has been forced to cede management control over his multibillion-dollar empire, at least temporarily, to the bankers who came to his rescue, and he must learn to live on $450,000 a month, and even less in future years.
Trump must learn to live on a mere $450,000 <em>a month</em>.
The poor dear. It’s really hard to imagine that those same banks were so gracious to homeowners they foreclosed on when the bubble burst on their credit default bubble.