Author:  Chris Hedges
Viewed: 25 - Published at: 10 years ago

Johnston wrote how by 1990, "Trump's inability to pay his debts had put him at risk of losing his casinos."64 The rules of the New Jersey Casino Control Commission required casino owners to have enough liquidity to pay their bills or see their ownership license revoked. Trump would either get a government rescue package or declare bankruptcy. Casino regulators, Johnston wrote, documented that Trump was down to his last $1.6 million.65 He had obligations to make payments on more than $1 billion worth of bonds every ninety days on his three casinos in Atlantic City. Johnston wrote: Trump's obvious difficulty complying with the financial stability requirements of the Casino Control Act raised a glaring question: Had regulators been monitoring Trump's finances since he got his casino license in 1982? The answer was no. The regulators had been too busy with work they deemed more important. There was, for example, the predawn arrest of a cocktail waitress named Diane Pussehl, who was pulled from bed and charged with a felony for picking up a $500 chip on the floor of Harrah's casino. A judge tossed the case out, so the casino regulators filed a misdemeanor charge. It also was tossed. Then they went after Pussehl's license, arguing she was morally unfit to work in a casino. Pussehl kept her license.66

( Chris Hedges )
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