Ross: Trump Taj Mahal's $800M Mortgage Bond Never Paid a Single Coupon
Wilbur Ross · A Conversation with Wall Street Legend & U.S. Commerce Secretary Wilbur Ross · Joe Lonsdale · Aug 30, 2024 · at 8:05
Turnaround investor Wilbur Ross recounts representing bondholders in the bankruptcy restructuring of Donald Trump's Taj Mahal Casino in Atlantic City.
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“Merrill Lynch and Bear Stearns underwrote an eight hundred million dollar mortgage bond for a company that was a startup. Trump had a couple million dollars in it, and that was about it. Well, it never paid one coupon. As you know, the coupons were every six months. Never paid one.”
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