# Professor Edward Altman on Donald Trump's history of bankruptcies

1 Faculty News July 30, 2015 ![Politico logo](/sites/default/files/styles/246w/public/assets/images/con_031428.jpg?itok=o8EDTRWD)>

Excerpt from [Politico](http://www.politico.com/magazine/story/2015/07/donald-trump-debt-120830.html#.Vbt7HfmMBUk) -- "'There’s nothing in the code that says you can’t stay in business, but the code also says that a company should not be permitted to emerge from bankruptcy if there is a substantial likelihood they will need to file again or will need restructuring,' says [Altman](http://www.stern.nyu.edu/faculty/bio/edward-altman). That makes Trump 'the great Houdini,' he says. 'No matter how poorly the companies perform he always manages to resurface and do it again.'"

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