I get a lot of Facebook posts from former U.S. Labor Secretary Robert Reich, who’s teaching these days at the University of California, but who remains dialed in to what’s happening politically.
Here is his latest rant … about The Donald.
“This morning I heard an apologist for Donald Trump say ‘at least he’s a brilliant businessman.’
“Baloney. Trump companies have filed for corporate bankruptcy four separate times. If you or I went bankrupt, all our assets would be used to repay our debts. If you’re a former student who can’t pay your student debt, or an underwater homeowner who can’t make a mortgage payment, you can’t even file for bankruptcy. But Trump has used bankruptcy and corporate laws to shield his personal fortune, allowing him to amass huge debts with little or no downside risk while enjoying all the upside gains.
“Trump also made his fortune by squeezing employees. As Bloomberg Business reports today, Trump operates one of the stingiest 401(k) plans in America. You can’t even join it until you spend a year as an employee, and Trump’s contribution doesn’t kick in for six years – the slowest vesting schedule allowed under U.S. law. Between March 2009 and June 2012, Trump suspended all contributions.
“He’s no brilliant businessman. He typifies the modern corporate CEO who’s rigged the rules, reaped giant personal rewards, and left communities and employees stranded.”
I think in Reich’s view, Donald Trump is a legend in his own mind.
Come to think of it, that’s my view as well.