Trump in business

On first reading of Mr Hollis’ letter in Monday’s Herald I thought he was giving a tongue-in-cheek view of Trump. However, I think he is serious. I disagree with his sentiments. Trump inherited his property business from his father and went on to make many ill-considered judgements in property development and New Jersey casinos.

In the early 1990s he filed for Chapter 11 bankruptcy for many of the companies to allow him to reorganise and return to the fray. I have had some experience in this aspect of the US bankruptcy laws. The company I represented lost legitimately owed funds because companies hid behind this legislation. I believe this protection offered to failing companies can allow them to rise from the ashes at the expense of their creditors.

The hubris shown by Trump at that time and since has left many construction and other servicing companies in ruins. If that is what Mr Hollis admires about Trump, who is contemptuous of the normal and proper way of doing business, I suggest he do some research.

To give Trump credit for the present bull market is credulous. He has been President for 18 months. The regulations and leadership shown after the 2008 recession are primarily responsible for giving the finance industry a new start which has led to the US economy being where it is today. Peter Burn, Gulf Harbour.