To the Editor,
There are tens of thousands of business bankruptcies and hundreds of thousands of personal bankruptcies in the U.S. every year. There have been over a million bankruptcies for many years during recessions.
There were 1.5 million bankruptcies in 1991 and 1992 when President Trump declared bankruptcies on four of his establishments. There were 1.3 million total bankruptcies including 55,000 business bankruptcies in 2009 when President Trump declared another. Unlike the Automakers and Banks President Trump didn’t have the Federal Government and U.S. taxpayers to bail him out. The business world is very competitive and many American Business Icons have gone under such as: Eastern Airlines, Pan Am, Woolworth, Montgomery Ward, Circuit City, Levitz Furniture, Radio Shack, Borders, Blockbusters, and etc.
To my knowledge Sears-Kmart now has less than 1000 stores out of an original 3,500 and is in serious trouble. Even the Sears Hometown Store in Banning is closing. Only a fool would go completely broke trying to keep operating businesses or establishments that are continually losing money. There is nothing unusual about President Trump’s bankruptcies and it is no discredit to him.
It is estimated that over 40 million lawsuits are filed every year in the U.S.. 5,000 lawsuits are filed against Walmart alone each year.
It is not surprising that there are so many lawsuits against President Trump as it appears that every politically motivated liberal Democrat and gold digger in the U.S. is after his jugular vein. I doubt if there is any real substance or merit to almost all of the lawsuits and it is no discredit to President Trump.
Ira Pray, Beaumont