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How Trump manoeuvred his way out of trouble in Chicago

By David Enrich, Russ Buettner, Mike McIntire and Susanne Craig
New York Times·
15 mins to read

When his skyscraper proved a disappointment, Donald Trump defaulted on his loans, sued his bank, got much of the debt forgiven — and largely avoided paying taxes on it.

The financial crisis was in full swing when Donald Trump travelled to Chicago in late September 2008 to mark the near-completion of his 92-floor skyscraper.

The fortunes of big companies, small businesses and millions of Americans — including the Trumps — were in peril. But the family patriarch was jubilant as

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